200 Pointe Dr Miami Beach, FL 33139-7475

Property Details for 200 Pointe Dr

Year built

2014

Construction

WOOD

Lot size

0.41 lot acres

Property size

15,197 SF

Zone code

3004:MULTI-FAMILY

Property type

Turn key restaurants

APN

02-4210-000-0134

APU

242100000134

Description

This exceptional Class A retail and hospitality property presents a rare opportunity to acquire the renowned CATCH Miami Beach restaurant. Located at 200 South Pointe Drive in the highly desirable "South of Fifth" neighborhood, this 20,630-square-foot, single-tenant property boasts a 15-year lease (commencing June 12, 2023, and expiring June 12, 2038) with three 5-year extension options. The current tenant, CATCH, a highly successful hospitality group, invested approximately $20 million in renovations completed in 2024. The property features both indoor and open-air rooftop dining spaces, designed by Rockwell Group, reflecting a sophisticated Mediterranean Art Deco style. The lease is a NNN lease with a 2% annual rent increase and a percentage rent component based on gross sales exceeding $25 million. The current Net Operating Income (NOI) is $1,500,000. Built in 2014 on a 0.41-acre lot, this freestanding restaurant is situated in a prime location amongst other high-performing restaurants and luxury residential buildings, including the Continuum Towers. This offering represents a unique chance to own a trophy asset in a thriving Miami Beach market with significant long-term income potential. The property is 100% occupied.