667 Lincoln Rd Miami Beach, FL 33139

Property Details for 667 Lincoln Rd

Year built

1935

Property size

1,089 SF

Zone code

6600:COMMERCIAL,LIBERAL

Property type

Retail space

APN

02-3234-219-0030

APU

232342190030

Description

This exceptional investment opportunity presents a thriving Pizza Tua restaurant located at 667 Lincoln Road in Miami Beach, Florida, 33139. The property, a Class B retail space, boasts a prime location and a strong financial performance. The 2,500 square foot restaurant operates under a Net lease with a corporate guarantee, ensuring consistent income. Currently enjoying 100% occupancy, the business generated a Net Operating Income (NOI) of $178,041 in the last year, representing a remarkable 25% capitalization rate. The lease commenced January 15, 2023, and extends for a total of nine years, with two five-year renewal options. Built in 1935, the restaurant offers significant potential for revenue growth through the addition of breakfast service, delivery options, and a liquor license. The sale includes all equipment and inventory, making this a truly turnkey operation. The asking price is $1,700,000. The seller is motivated and open to exploring seller financing options. This is a rare opportunity to acquire a profitable, established restaurant in a high-demand location with a long-term lease and significant upside potential. Annual sales exceed $3 million. Rent bumps are included in the lease agreement. The property is privately owned.