537 Española Way
Miami Beach, FL 33139
Specialty Property For Sale
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1,672 SF
INVESTMENT HIGHLIGHTS
- High Profile Urban Potential Restaurant Location on Historic Espanola Way
- Strong Demographic Base with Constant Demand for Restaurant
- Heavily Trafficked Pedestrian Neighborhood Frequented by Locals and Tourists
- Prime Value-Add Site in Path of Redevelopment
- Recent Neighborhood Improvements in Area
- ALSO AVAILABLE - ABUTTING PROPERTY AT 1445 PENNSYLVANIA AVENUE
PROPERTY FACTS
ABOUT 537 ESPAÑOLA WAY , MIAMI BEACH, FL 33139
Espanola Way just experienced an infusion of $2.7 million in beautification and infrastructure improvements which included making the street pedestrian only, from Washington Avenue to Drexel Avenue. South Beach has long been a major destination for alfresco shopping and dining. Areas such as Lincoln Road and Ocean Drive experienced their own revitalizations at the latter part of the 20th century. A shift in interest and redevelopment is now on north-south commercial arterials such as Alton Road and Washington Avenue. In the area just south of Espanola Way, Washington Avenue recently enhanced zoning and a newly envisioned business district is now the focus of municipal and developer interest. Numerous capital improvement projects, redevelopment and new construction are currently underway in the area. Washington Avenue has several new hotel projects in various stages of completion. A number of slick, new, highly-anticipated properties will deliver a considerable number of new hotel rooms to the immediate area, further increasing the demand for a variety of commercial, retail and restaurant space over the near-term future.
PROPERTY TAXES
| Parcel Number | 02-3234-015-0050 | Improvements Assessment | $1,000 |
| Land Assessment | $682,500 | Total Assessment | $683,500 |
