1671 Alton Rd Miami Beach, FL 33139-2427

This 7,500-square-foot storefront, built in 1936 and renovated in 2022, is located at 1671 Alton Rd, Miami Beach, FL 33139. The property boasts a desirable location on a main artery, offering easy access to surrounding retail, restaurants, hotels, and entertainment venues. Its proximity to Lincoln Road, Sunset Harbor, and West Avenue ensures high visibility and foot traffic. The building features a newly created outdoor patio, perfect for various uses. The property is zoned CD-2 and includes 0.41 parking spaces per 1,000 square feet. The asking price is $6,950,000, representing a price per square foot of $1,066.67 and a 5.30% cap rate. Currently at 20% occupancy, this multi-tenant property presents a significant investment opportunity. The area is experiencing a resurgence with new developments, including a mixed-use medical center and a Trader Joe's, further enhancing the property's value and potential. Seller financing is available with 70% LTV and a 6% interest rate. The property's strategic location within a thriving neighborhood, combined with its recent renovations and the ongoing development in the area, makes it an attractive investment prospect. The single-story building sits on a 7,500-square-foot lot.