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    Property profile & analytics
    FOR LEASE
    Commercial land

    1685 Lenox Ave, Miami Beach, FL 33139

    3,518 SF 0.18 ac lot Built 1954
    Entity Owned 15-yr Hold Free & Clear
    Property ID
    US19-0492847
    Property summary
    AI-generated overview

    This exceptional redevelopment opportunity presents 50,000 square feet of vacant space on a 16,000 square foot lot ideally situated in Miami Beach's vibrant Lincoln Road submarket cluster. Located at 1685 Lenox Avenue, at the intersection of Lenox Avenue and 17th Street in Miami-Dade County, Florida (zip code 33139), this multiple-tenancy retail site offers unparalleled potential for a variety of uses. The property's prime location within a thriving commercial district ensures high visibility and accessibility, making it an attractive proposition for businesses seeking a strong foothold in a high-traffic area. The substantial vacant space allows for a build-to-suit project tailored to specific needs, offering flexibility in design and functionality. This presents a unique chance to create a landmark retail destination in one of Miami Beach's most sought-after locations. The property's size and location make it particularly well-suited for restaurants, health clubs, home furnishings stores, or other retail establishments seeking a prominent presence in this dynamic market. This is a rare chance to acquire a significant retail property in a highly desirable area of Miami Beach. The property is zoned for retail use.

    Property profile
    Verified
    Property type Commercial land
    Use group VACANT COMMERCIAL LAND
    Year built 1954
    Construction CONCRETE
    Total area 3,518 SF
    Lot 0.18 ac (8,000 SF)
    Zoning code 6600:COMMERCIAL,LIBERAL
    APN 02-3234-004-0790
    UPID US19-0492847
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $475k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $565k
    Blend (final) Blend
    $660k
    Owner & transaction history
    Mac Alton LLC · 15 yrs held
    Mac Alton LLC
    since 2011
    2 recorded transactions
    2011
    $3.3M
    2005
    $3.1M
    Zoning & alternative use
    6600:COMMERCIAL,LIBERAL · Miami Beach, FL
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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