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Urban-High Street

South Beach Two-Tenant Retail Property

1019 5th St, Miami Beach, FL 33139

Listing Price: $6,086,589

Cap Rate
5.00%
Gross SF
7,053
Rentable SF
7,053
Price/Gross SF
$862.98
Lot Size
0.16 acres
Year Built
1937

Investment Overview

Marcus & Millichap is proud to exclusively market for sale the Fifth Street Retail Property, a 7,053 square foot two-tenant strip center located on the north side of Fifth Street, just east of Lenox Avenue in the heart of the South Beach submarket of Miami Beach, FL. The property is anchored by Naughty Rooster which is the largest and most well know adult store on Miami Beach. The other tenant is the world famous 5th Street Boxing Gym, which was established in 1950 by Chris & Angelo Dundee. Both tenants have over six years remaining on the base term of their leases with aggressive three percent annual base rental increases. The 100% occupied property sits sits just east of two large retail developments both of which have public parking lots that can be used by the customers for the building. The property has excellent visibility along Fifth Street which is the major east west traffic corridor entering and leaving South Beach from the mainland along MacArthur Causeway (I-395). Major retailers in the immediate area include Target, Publix Supermarket, Best Buy, TJ Maxx, Petco and Ross Dress For Less.

Investment Highlights

  • 100% occupied South Beach retail property
  • Seller installed brand new roof on the Property in 2019
  • Both tenants have over 6 years remaining on their base lease
  • Aggressive 3% annual base rental increases
  • Both tenants have long history of operation on Miami Beach

Exclusively Listed By

Urban-High Street

South Beach Two-Tenant Retail Property

Listing Price: $6,086,589

Cap Rate
5.00%
Gross SF
7,053
Rentable SF
7,053
Price/Gross SF
$862.98
Lot Size
0.16 acres
Year Built
1937

Investment Highlights

  • 100% occupied South Beach retail property
  • Seller installed brand new roof on the Property in 2019
  • Both tenants have over 6 years remaining on their base lease
  • Aggressive 3% annual base rental increases
  • Both tenants have long history of operation on Miami Beach

Investment Overview

Marcus & Millichap is proud to exclusively market for sale the Fifth Street Retail Property, a 7,053 square foot two-tenant strip center located on the north side of Fifth Street, just east of Lenox Avenue in the heart of the South Beach submarket of Miami Beach, FL. The property is anchored by Naughty Rooster which is the largest and most well know adult store on Miami Beach. The other tenant is the world famous 5th Street Boxing Gym, which was established in 1950 by Chris & Angelo Dundee. Both tenants have over six years remaining on the base term of their leases with aggressive three percent annual base rental increases. The 100% occupied property sits sits just east of two large retail developments both of which have public parking lots that can be used by the customers for the building. The property has excellent visibility along Fifth Street which is the major east west traffic corridor entering and leaving South Beach from the mainland along MacArthur Causeway (I-395). Major retailers in the immediate area include Target, Publix Supermarket, Best Buy, TJ Maxx, Petco and Ross Dress For Less.

Exclusively Listed By

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