459 41st St Miami Beach, FL 33140-3503
- Retail residential properties
- 3,725 SF
- 0.06 lot acres
Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 459 41st St
- Year built
- 1934
- Construction
- CONCRETE
- Lot size
- 0.06 lot acres
- Property size
- 3,725 SF
- Zone code
- 6600:COMMERCIAL,LIBERAL
- Property type
- Retail residential properties
- APN
- 02-3222-001-0450
- APU
- 232220010450
Description
This exceptional Miami Beach storefront investment opportunity presents a fee-simple ownership of a two-story, 3,725 square foot commercial building situated on a 0.06-acre lot at 459 W 41st Street, Miami Beach, FL 33140. The property boasts 100% occupancy with three tenants under modified net leases, generating a strong net operating income (NOI) of $84,966. Each lease includes attractive annual rent bumps, mitigating inflation risks, and features renewal options of one, two, and four years. The tenants share responsibility for 50% of real estate tax increases beyond base years. This prime location on W 41st Street, a major commercial corridor, benefits from high visibility and proximity to over 1,000 parking spaces. Daily traffic counts exceed 43,200 vehicles. The property is conveniently located near I-195, A1A, and public transportation, less than half a mile from the Miami Beach Boardwalk and beaches. The surrounding area offers a strong demographic profile, with over 69,900 people within a 3-mile radius and an average household income exceeding $143,019. Furthermore, the City of Miami Beach has approved a streetscape project to enhance the 41st Street corridor, boosting pedestrian traffic and visibility for businesses. The area is well-served by major retailers, banks, and healthcare facilities, creating a robust retail trade area. Built in 1934, this property offers a compelling combination of strong income, secure leases, and a prime location poised for future growth. The asking price is $2,200,000, representing a price per square foot of $591.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,465,000
- 6.5%
- $1,355,000
- 7%
- $1,255,000
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Location Insight
- Map
- Local Demand
- City
- Miami Beach
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.1288
- Latitude
- 25.8141
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
