Miami Beach Retail 3-Tenant Retail with Residential Suite

  • $3,900,000
1417, Washington Avenue, South Beach, Miami Beach, Miami-Dade County, Florida, 33139, United States of America

Miami Beach Retail 3-Tenant Retail with Residential Suite

1417, Washington Avenue, South Beach, Miami Beach, Miami-Dade County, Florida, 33139, United States of America
  • $3,900,000

Overview

Property ID: 18566
  • Property Type
  • Retail Properties
  • 6500
  • sqft

Description

Marcus & Millichap has been selected to exclusively market for sale 1417 Washington Avenue, a 6,261-square foot, multi-tenant retail center situated on a 6,500-square foot lot. Located on 14th Street and Washington Avenue, steps away from Española Way and Lincoln Road, the subject property is ideally situated in the heart of world famous South Beach. Washington Avenue is a major north/south corridor, flanked by Collins Avenue to the east and Alton Road to the west. A push to initiate an urban transformation for Washington Avenue is in the works. The Miami Beach Convention Center, located on Washington Avenue and 19th Street has plans to expand into a world class facility. The plans call for a massive redesign of the facility that accommodates world class events like the Boat Show and Art Basel. In addition, there has been an increase in approved and proposed hotel redevelopments on Washington Avenue. Washington Avenue is poised to undergo a major transformation, designed to increase pedestrian foot traffic from Collins Avenue, Lincoln Road, Española Way and the convention center This unique property affords investors the opportunity to purchase into a high barrier-of-entry market with significant short and long term upside

■Below Market Rents

■Leases Include Landlord Termination Clause

■Strong Up-Lease Potential

■Located in High Barrier of Entry Market

Details

Updated on April 13, 2020 at 12:53 pm
  • Price: $3,900,000
  • Property Size: 6500 sqft
  • Property Type: Retail Properties
  • Property Status: Available
  • Cap Rate: 2.99%
  • Lease Expiration: N/A
  • NOI: $116,775
  • Tenant: Washington Avenue
  • Address 1417, Washington Avenue, South Beach, Miami Beach, Miami-Dade County, Florida, 33139, United States of America
  • City Miami Beach
  • State/county Miami-Dade County
  • Zip/Postal Code 33139

Contact Information

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Ronnie Issenberg
  • Ronnie Issenberg

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