1558 Alton Rd, Miami Beach FL 33139

Description

Prime South Beach commercial opportunity on the west side of Alton Road, one of the area’s most visible and heavily trafficked corridors. 4-unit building totaling approx. 7,762 SF on a 7,500 SF lot as well as on-site parking for tenants. Currently 50% occupied with a ±1,400 SF frame shop paying $6,000/month and a ±2,800 SF language school paying $5,000/month. Current leases are below market. Two additional ground-floor spaces are vacant: a ±1,400 SF Alton Road–fronting retail unit and a ±2,100 SF rear space (formerly a flower shop). Pro-forma gross income approx. $367,500 annually; at market rents, income supports an attractive projected cap rate above 7% at stabilization, and incredible find in Miami Beach. CD-2 zoning allows future redevelopment up to ±15,522 SF and 60’ height.

This retail home located at 1558 Alton Rd, Miami Beach FL 33139 is currently for sale and has been available on Brickellsold for 139 days. This property is listed at $5M. It has N/A beds, N/A bathrooms, and is N/A square feet. It was built in 1925. 1558 Alton Rd, Miami Beach FL 33139 is in Miami Beach county Miami-Dade County.