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

Miami Beach Retail 3-Tenant Retail with Residential Suite

1417 Washington Avenue, Miami Beach, FL 33139
$3,900,000

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

  • Address: 1417 Washington Avenue
  • City: Miami Beach
  • State/county: Florida
  • Zip/Postal Code: 33139
  • Country: United States

Detail

  • Price: $3,900,000

Additional details

  • CAP Rate: 2.99%
  • NOI: $116,775