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Miami Beach NNN Market 1510 Washington Ave 1,320 SF Retail Building Miami Beach, FL 33139 $1,953,000 ($1,479.55/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Washington Avenue Net Leased Retail Condominium Market with Excellent Frontage and Recent Lease Renewal
- Tenant has Occupied the Space Since 2017, Lease Requires Tenant to Reimburse for All Expenses
- Located One Block North of World Famous Espanola Way Restaurant District and Just South of Courtyard By Marriot Hotel
- New Five Year Lease Term Includes 5% Annual Base Rental Increases
- The Subject Property is Ideally Located Next Door to Multiple Residential and Hotel Properties Providing Constant Daytime
- Rare Rectangular Configuration with the Long Side Facing Washington Avenue Offers Frontage of Over 50 Feet with Excellent Visibility and Signage
EXECUTIVE SUMMARY
Marcus & Millichap is proud to present for sale, Miami Beach NNN Market in Miami Beach, Florida. Please contact listing team at 786-522-7086 for more information on this opportunity.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
1,320 SF
Building Class
B
Year Built/Renovated
1924/2006
Price
$1,953,000
Price Per SF
$1,479.55
Cap Rate
6%
NOI
$117,180
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.19 AC
Zoning
CD-2 - Commercial
Parking
6 Spaces (4.55 Spaces per 1,000 SF Leased)
Frontage
64’ on Washington Ave.
AMENITIES
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- MB Market
- Retailer
- 1,320 SF
- $88.77
- Triple Net
- Nov 2029
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| MB Market | Retailer | 1,320 SF | $88.77 | Triple Net | Nov 2029 |
Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (80)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 02-3234-006-0090 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $885,000 |
PROPERTY TAXES
Parcel Number
02-3234-006-0090
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$885,000
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Miami Beach NNN Market | 1510 Washington Ave
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