550 Biltmore Way Coral Gables, FL 33134

Property Details for 550 Biltmore Way

Year built

1986

Construction

CONCRETE

Lot size

1.03 lot acres

Property size

290,520 SF

Zone code

6100:COMMERCIAL,NEIGHBRHD

Property type

Office buildings

APN

03-4117-008-1230

APU

341170081230

Description

This thriving Coral Gables restaurant, located at 550 Biltmore Way, presents a unique turnkey investment opportunity. Built in 1986, this retail space offers a fully equipped kitchen, separated from the main retail area, featuring a large stainless steel hood – a significant advantage for many restaurants. The kitchen boasts direct access to a convenient street alley, ideal for deliveries and loading. Additional space includes a separate office/storage area of approximately 150 square feet with an 8-foot ceiling. The property benefits from a guaranteed lease extending until 2030, at a monthly rate of $1,650, with minimal annual adjustments. This lease includes water and garbage removal, a significant cost savings considering Coral Gables city charges approximately $1,000 annually for these services. The grease trap is compliant with all DERM inspection requirements. The restaurant is in excellent standing with the city and has an alcohol license currently in process, which the buyer can continue to obtain. All equipment, the existing menu, and inventory are included in the asking price of $165,000. This exceptional opportunity combines a strong lease, a well-equipped space, and a prime Coral Gables location, making it an attractive investment for experienced restaurateurs. The property is located in Miami-Dade County, Florida, zip code 33134. No violations are currently on file.

Location Insight

City

Coral Gables

County

Miami-dade

State

Florida

Longitude

-80.266

Latitude

25.7479

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments