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1215 West Ave - Abae Hotel 5,174 SF Retail Condo Unit Offered at $5,000,000 in Miami Beach, FL 33139
INVESTMENT HIGHLIGHTS
- Two fully leased retail condos beneath ABAE Hotel.
- Prime South Beach corner surrounded by 40,000+ residents and 12M+ annual tourists.
- Surrounded by new luxury condo developments (Monad Terrace, Five Park, Flamingo Point).
- NN lease structures with strong annual rent escalations.
- Steps from Lincoln Road, Alton Rd, and Biscayne Bay.
EXECUTIVE SUMMARY
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PROPERTY FACTS
| Total Building Size | 55,963 SF | Floors | 6 |
| Property Type | Hospitality (Condo) | Typical Floor Size | 9,327 SF |
| Property Subtype | Hotel | Year Built | 2016 |
| Building Class | B | Lot Size | 0.41 AC |
| Zoning | RM-2 - Residential | ||
| Total Building Size | 55,963 SF |
| Property Type | Hospitality (Condo) |
| Property Subtype | Hotel |
| Building Class | B |
| Floors | 6 |
| Typical Floor Size | 9,327 SF |
| Year Built | 2016 |
| Lot Size | 0.41 AC |
| Zoning | RM-2 - Residential |
AMENITIES
- 24 Hour Access
- Balcony
- Corner Lot
- Pool
- Restaurant
- Signage
- On-Site Retail
- High Speed Internet Access
- Storage Space
- Patio
- Air Conditioning
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 43 | $265.00 | - |
1 UNIT AVAILABLE
Unit 1
| Unit Size | 5,174 SF | Sale Type | Investment or Owner User |
| Price | $5,000,000 | Cap Rate | 5.15% |
| Price Per SF | $966.37 | NOI | $257,413 |
| Condo Use | Retail | No. Parking Spaces | 59 |
| Unit Size | 5,174 SF |
| Price | $5,000,000 |
| Price Per SF | $966.37 |
| Condo Use | Retail |
| Sale Type | Investment or Owner User |
| Cap Rate | 5.15% |
| NOI | $257,413 |
| No. Parking Spaces | 59 |
DESCRIPTION
RISE Realty is pleased to present this 5,174 SQ FT TRIPLE NET NNN RETAIL CONDO in the heart of Miami Beach, FL.
Ocean Drive and the historic Art Deco District are less than a mile away from the subject location.
SALE NOTES
Prime investment opportunity: Two fully leased NNN retail condos at 1215 West Ave in Miami Beach. Anchored by international brand Joe & The Juice and luxury salon Muse Beauty, generating a combined NOI of $257,413 with 3% annual increases. Offered at $5,000,000, reflecting a 5.12% cap rate. Strategic location beneath the ABAE Hotel with exceptional visibility and strong long-term upside.
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1215 West Ave - Abae Hotel
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