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$ 4,900,000
Est. payment | /mo
6,518 SqFt
$ 4,900,000
Est. payment | /mo
6,518 SqFt
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 6,518 sqft
Price per Sqft $751
MLS Listing ID A12069920
HOA Y/N No
Year Built 1953
Lot Size 0.263 Acres
Property Sub-Type Retail
Property Description
Prime North Beach Commercial Opportunity – Income-Producing Property with Redevelopment Potential. Located in the heart of North Beach, this exceptional commercial property is surrounded by ongoing new business activity, luxury condominium developments, and high-end construction throughout the Beach/Collins and North Bay Village. Strategically positioned between these thriving areas, the property benefits from strong visibility, traffic, and continued neighborhood growth. The existing shopping center is currently home to 9 established businesses, providing immediate income-producing potential for a new owner. Each of the 9 suites has its own individual FPL electric and water/sewer setup, offering flexibility and ease of management. All current tenants are secured under 2-year leases with options to renew, creating stability and an attractive opportunity for an investor seeking existing cash flow. The property currently offers the potential for approximately a 5.5% capitalization rate while maintaining the existing configuration. For investors and developers looking beyond the existing income stream, the property also offers significant redevelopment potential. Create approximately 14,350sqf of under air. The additional space could accommodate a wide range of uses, including, Schools and educational facilities, Professional and corporate offices, Medical and wellness offices, recording studios, Creative and entertainment businesses, Retail and service-oriented businesses
Location
State FL
County Miami-dade
Area 31
Exterior
Private Pool Yes
Others
Tax ID 02-32-10-013-1200
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12069920
Listed by One Sotheby's International Realty
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