1100 15Th StMiami Beach, FL 33139

Property Details for 1100 15Th St

Year built

1945

Construction

CONCRETE

Lot size

0.19 AC

Property size (Sq ft)

6,776 SF

Zone code

6100:COMMERCIAL,NEIGHBRHD

Property type

Retail properties

Property subtype

Outlet malls

APN

02-3234-018-0680

APU

232340180680

Description

This exceptional investment opportunity presents a fee-simple ownership of a stabilized, multi-tenant retail center located at 1100 15th Street in Miami Beach, Florida. The property encompasses 6,650 square feet on an 8,250 square foot lot, featuring six individual units currently boasting 100% occupancy. Built in 1945 and renovated in 2013, this single-story building is zoned CD-1 and benefits from a strong tenant mix including three food and beverage establishments, catering to both local residents and tourists. The property's strategic location, just two blocks from the renowned Lincoln Road Mall, ensures high visibility and foot traffic. The current Net Operating Income (NOI) stands at $369,956, yielding a 5.78% cap rate, with an asking price of $6,400,000 ($962.41 per square foot). Each tenant operates under a triple-net (NNN) lease, providing a landlord-friendly structure with built-in annual rent increases of 3-5%. The leases are structured to allow for near-term value creation, with only one tenant possessing a renewal option. This property offers a compelling combination of strong cash flow, prime location, and significant upside potential for future growth. The property features 205 linear feet of frontage and 45-foot bay depths, maximizing rental potential. The property's APN is 02-3234-018-0680.

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.7872

Longitude

-80.1402

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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