Seafood Restaurant with
New
For Sale
$450,000
1228 Collins Avenue, Miami Beach, FL 33139
A 2025 renovation refreshed the dining space, which operates under a 2COP beer-and-wine license.
Property Size5,133 SF
Price / SF$250
Days on Market3
Property Features for 1228 Collins Avenue
General Information
Standard status
Active
Size
5,133 SF
Property subtype
Business Opportunity
Zoning
6501
Additional Details
Furnished
Yes
Business Included
Yes
Patio
Yes
Building Details
Building Size
5,133 SF
Year Built
1931
Year Renovated
2025
Listing Agency:
COSMORE Florida Corp.
Listed By:
Piero Ruggeri · License #3530106
(305) 450-2097
Source:
Laerrealty
Added: Oct 19
Last Checked: Oct 20 at 6:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COSMORE Florida Corp.
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Investment Insights
Based on property information with market context.
This Mediterranean seafood restaurant occupies approximately 1,800 SF on Collins Avenue in Miami Beach’s South Beach and Art Deco District. The dining room seats 66, with additional seating on a terrace. Renovation work was completed in 2025, and the business holds a 2COP beer-and-wine license.
Nine trained employees are willing to stay. Furniture, recipes, the website, and social media accounts are included with the business. The lease has 7 years remaining, a 10-year option, and annual increases of 4%.
Nine trained employees are willing to stay. Furniture, recipes, the website, and social media accounts are included with the business. The lease has 7 years remaining, a 10-year option, and annual increases of 4%.
Key Highlights
- Approx. 1,800 SF
- 66 seats plus terrace
- 2COP beer and wine license
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,652
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,040
$693.0K
Cap Rate 7%
$495,029
$495.0K
Cap Rate 9%
$385,022
$385.0K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$49.7K $27.60/SF
− Vacancy
−$3.5K −$1.93/SF
EGI
$46.2K $25.67/SF
− OpEx
−$11.6K −$6.42/SF
NOI
$34.7K $19.25/SF
Area
Miami-Dade County, FL
Vacancy
7.00%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,040
Cap Rate 7%
$495,029
Cap Rate 9%
$385,022
Alternative Uses
Best Use
Specialty Retail
$495.0K
$433.2K – $577.5K
NOI $34,652 @ 7.0% cap · market cap 7.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$913.2K
$799.1K – $1.07M
NOI $63,925 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
6,840
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33139, FL
36,286
Population
30,166
Households
1.2
Avg Household Size
43
Median Age
53%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
12,959
Density / Sq Mi
$63,368
Median Household Income
$48,608
Median Earnings
$1,745
Median Rent
$480,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A 2025 renovation refreshed the dining space, which operates under a 2COP beer-and-wine license.
Where is this conventional restaurant located?
The property is located at 1228 Collins Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Approx. 1,800 SF; 66 seats plus terrace; 2COP beer and wine license
