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1558 Alton Rd 7,762 SF 82% Leased Office Building Miami Beach, FL 33139 $5,000,000 ($644.16/SF) 7.35% Cap Rate
Executive Summary
Prime South Beach commercial opportunity on the west side of Alton Road, one of the area’s most visible and heavily trafficked corridors. 4-unit building totaling approx. 7,762 SF on a 7,500 SF lot, including on-site parking for tenants. Currently 50% occupied with a ±1,400 SF frame shop paying $6,000/month and a ±2,800 SF language school paying $5,000/month. Current leases are below market. Two additional ground-floor spaces are vacant: a ±1,400 SF Alton Road–fronting retail unit and a ±2,100 SF rear space (formerly a flower shop). Pro-forma gross income approx. $367,500 annually; at market rents, income supports an attractive projected cap rate above 7% at stabilization, and incredible find in Miami Beach. CD-2 zoning allows future redevelopment up to ±15,522 SF and 60’ height.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
7,762 SF
Building Class
C
Year Built
1956
Price
$5,000,000
Price Per SF
$644.16
Cap Rate
7.35%
NOI
$367,500
Percent Leased
82%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,000 SF
Building FAR
1.05
Lot Size
0.17 AC
Zoning
CD-2 - The site is zoned CD-2 (Commercial Medium Intensity),
allowing redevelopment up to approximately 15,522 square feet and 60 feet in
height.
Parking
4 Spaces (0.67 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Wholesaler
- -
- -
- -
At Frames ToGo Art & More, our goal is to help you become the person you inspire to be. Traditional, like Gothic or Art Decor? We’ll guide you through the decisions, provide fresh options for your custom framing needs. We pull it all together into a home or office design that is beautiful, functional and uniquely yours. Frames To Go Art & More supervises the entire project til its finish. Frames to Go in Miami is the place to be for picture framing, custom picture framing in Doral, custom picture frames.
- Sol Group Of Schools, Llc
- Educational Services
- -
- -
- -
- Sol Schools Of Miami Beach
- Educational Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Wholesaler | - | - | - | ||
| Sol Group Of Schools, Llc | Educational Services | - | - | - | ||
| Sol Schools Of Miami Beach | Educational Services | - | - | - |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Vacant Retail space fronting Alton Rd. Approximately 1400 SF, identical space to Frames To Go next door.
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 1,400 SF | Retail | Partial Build-Out | Now |
1st Floor
| Size |
| 1,400 SF |
| Space Use |
| Retail |
| Build-Out |
| Partial Build-Out |
| Available |
| Now |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Floor
| Size | 1,400 SF |
| Space Use | Retail |
| Build-Out | Partial Build-Out |
| Available | Now |
Vacant Retail space fronting Alton Rd. Approximately 1400 SF, identical space to Frames To Go next door.
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Exceptionally walkable
90/100
Moderately drivable
70/100
Some public transit
50/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 02-3234-018-0510 | Improvements Assessment | $701,018 |
| Land Assessment | $2,250,000 | Total Assessment | $2,951,018 |
Property Taxes
Parcel Number
02-3234-018-0510
Land Assessment
$2,250,000
Improvements Assessment
$701,018
Total Assessment
$2,951,018
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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