1335 Drexel Ave
Miami Beach, FL 33139
Property For Lease · 4,824 SF

An exceptional commercial opportunity awaits on Drexel Ave with this 2-story, 8-unit apartment building, strategically located just two blocks from the beach and within walking distance to high-traffic shops and vibrant activity centers. Offering a unique blend of flexibility and potential, this property is 100% occupied with month-to-month leases with residential tenants ready to vacate and zoned CD-2 Commercial Medium Intensity, making it primed for repositioning. Comprised of four 1-bedroom and four junior 1-bedroom units, this fully occupied building delivers immediate cash flow with significant upside in conversion. The flexible CD-2 zoning allows for a multitude of commercial uses, including apartment, hotel, and various other commercial ventures. Additionally, the property is zoned to capitalize on the short-term rental market. Owner would prefer a hospitality tenant. Sitting on a 5,000 square foot lot with 5,360 square feet under air, this property has undergone recent roof maintenance, ensuring stability for future ownership. Available for sale or master lease for the first time in 50 years, this asset is ideal for investors seeking a high-value opportunity in the heart of Miami Beach’s dynamic commercial landscape. Owner prefers to lease the whole building, but will hear offers to buy as well.