• An Award Winning Net Lease & Retail Commercial Real Estate Group

Description

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale this 12 unit Apartment Building located at 600 12th Street in Miami Beach, Florida. This two-story, well landscaped,12 – unit apartment building is situated on a 7,000 square foot corner lot located in the heart of South Beach and is listed for sale at $3,000,000. . This magnificently managed and kept apartment building is located on the southwest corner of Pennsylvania Avenue and 12th Street, just one block west of Washington Avenue, one of South Beach’s busiest north / south retail corridor and just three blocks west of world class beaches, minutes from the Miami Beach Convention Center, Lincoln Road and some of South Beaches most iconic resorts, such as, The W South Beach, The Faena, Fontainebleau, The Ritz-Carlton, Loews, and The Delano . The Lincoln Road Mall is a world-famous promenade and major tourist destination with some of the best shopping, dining and entertainment in Miami, Lincoln Road stretches a full mile in length between West and Washington Avenues, and features a wide array of restaurants, bars, cafes, art galleries, more than 100 retail stores, As such, the Lincoln Road Mall is a major employment center within South Beach . The Miami Beach Convention Center currently undergoing renovations and expansions of a $615 million project, being completed by mid 2018 will attract new national and international events and conventions. The center hosts the annual South Florida Auto Show, Art Basel, Florida Supercon, Forgiato Fest, Sporting events, and many other popular conventions.

■ AAA LOCATION IN THE HEART OF SOUTH BEACH
■ PRIME, 7,000 SQUARE FOOT CORNER LOT
■ RARE TWO ON SITE PARKING SPACES
■ ALL UNITS HAVE WASHER AND DRYERS
■ LOCATED BLOCKS FROM MIAMI BEACH BOTANICAL GARDEN & MIAMI
BEACH GOLF CLUB™
■ SHORT WALK TO THE BEACH & MIAMI BEACH CONVENTION CENTER
■ MINUTES FROM LINCOLN ROAD, WASHINGTON & COLLINS AVENUES AND
OCEAN DRIVE
■ COMPLETE UP GRADED PGT HURRICANE IMPACT WINDOWS AND
THRESHOLD DOORS
■ ELECTRICITY HAS BEEN COMPLETELY UPGRADED
■ THREE STUDIOS AND ONE – ONE BEDROOM UNIT HAVE BEEN
COMPLETELY RENOVATED, INCLUDING ALL STAINLESS STEEL,
APPLIANCES, FLOORING, CABINETS AND BATHROOMS

Property Documents

  • 600-12th-multifamily-om-package
  • City: Miami Beach
  • State/county: Florida
  • Country: United States

Detail

  • Price: $2,600,000

Additional details

  • CAP Rate: 3.83%
  • CAP Rate - Pro Forma: 5.48%
  • NOI: $99,811.00

Features

Video