1428 Alton Rd Miami Beach, FL 33139-3828
- Turn key restaurants
- 7,038 SF
- 0.34 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 1428 Alton Rd
- Year built
- 1940
- Construction
- CONCRETE
- Lot size
- 0.34 lot acres
- Property size
- 7,038 SF
- Zone code
- 6400:COMMERCIAL,CENTRAL
- Property type
- Turn key restaurants
- APN
- 02-3234-018-0700
- APU
- 232340180700
Description
This exceptional investment opportunity presents a 7,344 square foot, single-tenant retail property located at 1428 Alton Road, Miami Beach, Florida. The property is currently 100% occupied by Sunburn Cannabis under a Net Lease agreement with a remaining term of 9.1 years, expiring December 31, 2033. The lease commenced August 23, 2018, and features attractive 5% annual rent bumps, providing excellent inflation protection. The asking price is $15,000,000, representing a compelling Cap Rate of 7.22% and a price per square foot of $2,042.48. The property boasts a substantial Net Operating Income (NOI) of $1,082,435. Built in 1940 and renovated in 2024, this single-story building sits on a sizable 15,000 square foot lot with 18 parking spaces, offering ample parking for customers and staff. The property benefits from excellent visibility and access due to its oversized corner lot location, providing 250 linear feet of frontage on Alton Road and 14th Court. The CD-2 zoning designation presents significant future development potential. The property is a fee-simple ownership and includes two five-year lease options. This is a rare opportunity to acquire a high-performing cannabis dispensary in a highly desirable Miami Beach location with strong long-term growth prospects.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami Beach
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.1415
- Latitude
- 25.7865
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
