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1220 Collins AveMiami Beach, FL 33139

Luxury Miami Beach storefront, 15,600 SF

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a 15,600-square-foot, three-story storefront located at 1220 Collins Avenue in Miami Beach, Florida. The property, built in 1939 and extensively renovated in 2009, boasts a prime location in the heart of South Beach, benefiting from high foot traffic. Currently 100% occupied by a single, globally recognized luxury retail tenant, The Webster, under an absolute NNN lease expiring March 31, 2035 (10.4 years remaining). The lease includes a 2% annual rent bump. The building features high-end fixtures and lighting, while preserving its Art Deco architectural significance. With a Net Operating Income (NOI) of $822,436 and a 4.84% cap rate, this stabilized investment offers significant returns. The 7,000-square-foot lot is zoned MXE, providing flexibility for various uses. This is a rare chance to acquire a fully leased, iconic South Beach property with a long-term lease and strong financial performance. The property's history as a hotel, converted to a multi-brand boutique, adds to its unique appeal.

Highlights

  • 15,600 SF, three-story commercial building on Collins Avenue, Miami Beach.
  • Multi-million dollar renovation completed; fully leased.
  • Excellent foot traffic on Collins Avenue and throughout the neighborhood.

Property Details for 1220 Collins Ave

Property type
Retail properties, Retail space
Square Feet
15,600 SF
Year Built/Renovated
1939/2009
Stories
3

Location Insight

City
Miami Beach
County
Miami-Dade
State
Florida
Latitude
25.783164643572
Longitude
-80.131127893276
1220 Collins Ave, Miami Beach, Florida

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1220 Collins Ave
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