Mexican Restaurant with 82
New
For Sale
$550,000
1238 Collins Avenue, Miami Beach, FL 33139
Established ground-floor restaurant includes a 4COP liquor license, equipment, furniture, and a long-term lease.
Property Size17,934 SF
Price / SF$229.17
Days on Market7
Property Features for 1238 Collins Avenue
General Information
Standard status
Active
Size
17,934 SF
Property subtype
COMMERCIAL
Space & Availability
Floor
Ground
Furnished
Yes
Restaurant
Seating Capacity
82
Equipment Included
Yes
Liquor License
Yes
Additional Details
Business Included
Yes
Building Details
Building Size
17,934 SF
Year Built
1924
Listing Agency:
COSMORE Florida Corp.
Listed By:
Piero Ruggeri · License #3530106
(305) 450-2097
Source:
Silverleafrealtygroup
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 19 at 10:01AM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A Mexican restaurant occupies approximately 2,400 square feet on the ground floor of the La Flora building, constructed in 1924. The space accommodates 82 seats and includes a 4COP liquor license, restaurant equipment, and furniture. The business also includes its recipes, website, and social media accounts. A 10-year lease has a 10-year renewal option, with no rent increases during the first 2 years.
The restaurant is located at 1238 Collins Ave in Miami Beach’s Art Deco District, steps from the beach. It operates daily for lunch and dinner. A two-month seller transition is included, and current staff may remain.
The restaurant is located at 1238 Collins Ave in Miami Beach’s Art Deco District, steps from the beach. It operates daily for lunch and dinner. A two-month seller transition is included, and current staff may remain.
Key Highlights
- Approximately 2,400 SF on the ground floor of the La Flora building, built in 1924
- Restaurant seating for 82 with a 4COP liquor license
- 10‑year lease plus a 10‑year renewal option; no rent increases for the first 2 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,202
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$924,040
$924.0K
Cap Rate 7%
$660,029
$660.0K
Cap Rate 9%
$513,356
$513.4K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$66.2K $27.60/SF
− Vacancy
−$4.6K −$1.93/SF
EGI
$61.6K $25.67/SF
− OpEx
−$15.4K −$6.42/SF
NOI
$46.2K $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%
$924,040
Cap Rate 7%
$660,029
Cap Rate 9%
$513,356
Alternative Uses
Best Use
Specialty Retail
$660.0K
$577.5K – $770.0K
NOI $46,202 @ 7.0% cap · market cap 8.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,233 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
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
Check the figures for this property
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 - Established ground-floor restaurant includes a 4COP liquor license, equipment, furniture, and a long-term lease.
Where is this conventional restaurant located?
The property is located at 1238 Collins Avenue Miami Beach, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately 2,400 SF on the ground floor of the La Flora building, built in 1924; Restaurant seating for 82 with a 4COP liquor license; 10‑year lease plus a 10‑year renewal option; no rent increases for the first 2 years
