1050 Alton RdMiami Beach, FL 33139

Property Details for 1050 Alton Rd

Year built

1941

Construction

CONCRETE

Lot size

0.40 AC

Property size (Sq ft)

7,905 SF

Zone code

6400:COMMERCIAL,CENTRAL

Property type

Outlet malls

APN

02-3234-025-0250

APU

232340250250

Description

This exceptional Miami Beach storefront investment opportunity, located at 1050 Alton Rd, 33139, presents a compelling proposition for discerning investors. The property boasts a substantial 7,687 square feet of retail space situated on a 17,250 square foot lot, zoned CD-2. Currently generating income, this property offers significant upside potential as market rents increase. The building features multiple units, including spaces of approximately 2,600 square feet, 1,579 square feet (currently occupied by OXXO Dry Cleaners), and 3,508 square feet, all available for lease or potential redevelopment. Its strategic location places it within easy walking distance of Ocean Drive, Lincoln Road Mall, Espanola Way, and South of Fifth, ensuring high visibility and foot traffic. The property also benefits from convenient access to major highways, I-195 and I-95, and proximity to thriving areas like the Design District, Wynwood, and the Magic City Innovation District. Onsite parking is available. The asking price is $10,400,000, translating to a price per square foot of $1,352.93. This presents a rare chance to acquire a high-performing retail asset in one of Miami Beach's most desirable locations with potential for future development. All information should be independently verified.

• CAP approach

  CAP return

  Valuation

  6%

  $10,032,816

  6.5%

  $9,261,061

  7%

  $8,599,557

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,626,801

  Geo Method

  $7,626,801

• Alternative Use

  Use

  Valuation

  Residential

  $7,812,052

  Hospitality

  $7,155,798

  Educational

  $5,953,540

  Medical

  $6,158,290

  Retail

  $9,261,061

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.7815

Longitude

-80.1413

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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