1 E 49th St
Hialeah, FL 33013
Bank of America Hialeah · Retail Property For Sale

Bank of America Hialeah has been exceptionally maintained and provides professional curb appeal, ample parking, and excellent visibility. The tenant has occupied the building since 2003 and has six years remaining on the lease term. Additionally, the tenant has five five-year renewal options that extend up to 2048. The building also has seven drive through lanes. The property is also zoned B-1 (Highly Restricted Retail District), which allows for the development of office and retail. The zoning allows for a maximum height of four stories or 50 feet. The owner can also rezone the property to C-2 (Liberal Retail Commercial) subject to a conditional use permit (CUP) that would be considered by the city of Hialeah. C-2 allows for hotel usage, and all B-1 uses. The height limit for C-2 is six stories or 70 feet. The property consists of 130,574 square feet (3 acres) of land. This asset is extremely easy to manage and is ideal for any investor due to the excellent redevelopment opportunity, location, convenience, and overall condition of the property. Marcus & Millichap is proud to present Bank of America Hialeah, a net leased bank located in Hialeah, Florida. This building is 100% occupied by Bank of America and consists of 10,768 rentable square feet. The property is located on a hard signalized corner of East 49th Street and Palm Avenue, which provides high traffic counts of over 62,000 vehicles per day (VPD). This location provides easy access to the Palmetto Expressway (SR-826) and the Miami International Airport (MIA). Just west of the property is the Palm Springs Mile, which is a mile-long super-regional retail destination located directly on 49th Street in between Red Road and Ludlam Road. The strip covers an area of about 1,200,000 square feet and has about 150 retail stores, which includes some national tenants such as Chipotle Mexican Grill, Walmart, Starbucks, Office Depot, LA Fitness and more. The building is located about half a mile east of the heart of Hialeah.