Trophy Miami Beach TD Bank (3-Tenant) Retail Center

1570 Alton Rd, Miami Beach, FL 33139, USA
$8,983,600

Description

Marcus & Millichap is pleased to present for sale this Trophy, Net Leased, multitenant strip center located in the heart of world-famous South Beach, Florida. The subject property is comprised of 4,200 square feet of retail space and situated in one of the most desirable locations in Miami Beach.
Anchored by corporate guaranteed TD Bank, this fully occupied strip center has two additional bays occupied by successful local food concepts; Lucky Thai Food and Toasted Bagelry & Deli. Strategically located on the hard-signalized intersection of Alton Road and 16th Street, the property benefits from an ideal location which is easily accessible from a number of vantage points throughout Miami Beach. Alton Road is one of South Beach’s busiest North-South corridors, providing incredible visibility which brings about high traffic counts and foot traffic. The property is also minutes from the newly renovated State of the Art Miami Beach Convention Center, Lincoln Road, and some of South Beach’s most iconic resorts.
South Beach, also nicknamed SoBe, has experienced years of a booming economic development, and is the go-to destination to millions of visitors yearly who come to enjoy its beaches and the glamorous scene around its happening nightspots and celebrity-chef eateries. In 2019, Miami and its Beaches hosted a record breaking 16.5 million overnight visitors, along with 6.8-millionday
trippers, for a total visitor number in excess of 23 million who spent an estimated $28 billion. The 200+ hotels, pedestrian shopping, deco architecture, and incredible year-round weather make it an ideal destination to visit. The Miami Beach Convention Center, which recently completed a $620 million renovation and expansion, 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. Additionally, there are numerous new and existing developments currently underway within the immediate area inclusive of the recently completed three-in-one concept Firestone Garage from David Grutman’s Groot Hospitality. The new development, which just recently opened for business, features: Sushi Fly Chicken; a restaurant, bar, and lounge inspired by Tokyo’s underground nightlife scene, Tooth Fairy; a retro-modern bakery with a unique take on an ice cream parlor and bakery, and Winker’s Diner; an upscale version of the Woolworth lunch counters of the 1950s serving comfort food.
This is a rare opportunity for an investor to acquire a trophy asset in one of the most desirable corners in South Beach.

  • Trophy South Beach Real Estate | Located on a Highly Visible Signalized Hard Corner
  • High Barrier-to-Entry Market
  • Fee Simple Allowing for Depreciation
  • World Class Tourist Destination | 23 Million Annual Visitors
  • Minutes from Newly Renovated $620 Million, State of the Art Convention Center
  • World Renown & Iconic Tourist Attraction/Location
  • Rare Corner South Beach Mutli-Tenant Retail Property

Property Documents

  • TDbank-3Tenant-Center-Miami-Beach-FL-om-ib
  • City: Miami Beach
  • State/county: Florida
  • Zip/Postal Code: 33139
  • Country: United States

Detail

  • Price: $8,983,600
  • Year Built: 1998

Additional details

  • CAP RATE: 4.00%
  • NOI: $359,345

Features

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