About This Home
This 0-bedroom, 0-bathroom commercial at 1558 Alton Rd in Miami Beach, FL is listed for $5,000,000. Built in 1925, on a 0.17 acres lot.
Key Features
- Built in 1925
- 0.17 acre lot
Property Details
Prime South Beach commercial opportunity on the west side of Alton Road, one of the area's most visible and heavily trafficked corridors. 4-unit building totaling approx. 7,762 SF on a 7,500 SF lot as well as on-site parking for tenants. Currently 50% occupied with a +/-1,400 SF frame shop paying $6,000/month and a +/-2,800 SF language school paying $5,000/month.
Current leases are below market. Two additional ground-floor spaces are vacant: a +/-1,400 SF Alton Road-fronting retail unit and a +/-2,100 SF rear space (formerly a flower shop). Pro-forma gross income approx. $367,500 annually; at market rents, income supports an attractive projected cap rate above 7% at stabilization, and incredible find in Miami Beach. CD-2 zoning allows future redevelopment up to +/-15,522 SF and 60' height.
Monthly Cost Estimate
$26,741/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1558 Alton Rd
Miami Beach, FL 33139
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 1558 Alton Rd is listed at $5,000,000. The estimated monthly payment is $26,741 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1925, 0.17 acre lot.
This property is listed by Ben Brissi and can be reached at 5618702211.
