1828 Alton RdMiami Beach, FL 33139

Property Details for 1828 Alton Rd

Year built

1940

Construction

CONCRETE

Lot size

0.18 AC

Property size (Sq ft)

6,250 SF

Zone code

6400:COMMERCIAL,CENTRAL

Property type

Office properties

Property subtype

Office buildings

APN

02-3233-012-0160

APU

232330120160

Description

This exceptional 5,606-square-foot storefront building presents a rare owner-user or redevelopment opportunity in Miami Beach's vibrant Sunset Harbor neighborhood. Situated on an 8,000-square-foot lot with 73 feet of frontage on Alton Road, a high-traffic artery boasting over 33,000 vehicles per day, this property offers unparalleled visibility and accessibility. Previously occupied by a veterinary clinic, the interior features a plug-and-play buildout suitable for medical use, but is highly adaptable to various other uses. The flexible CD-2 zoning allows for a wide range of possibilities, including retail, office, and residential development, with potential for expansion up to 12,000 square feet. The property benefits from its proximity to numerous amenities, including Lincoln Road Mall, Mount Sinai Medical Center, and a wealth of retail establishments, restaurants, and entertainment options. Its location within walking distance of South Beach's most popular areas, coupled with a Walk Score of 93, ensures high foot traffic and strong market demand. The property's asking price is $6,500,000, translating to $1,159.47 per square foot. This is a truly exceptional opportunity to capitalize on the robust Miami Beach real estate market and create a thriving business in a prime location. The property is vacant and offers fee simple ownership. The parcel number is 02-3233-012-0160. The property is located at 1828 Alton Road, Miami Beach, Florida, 33139.

• CAP approach

  CAP return

  Valuation

  6%

  $5,396,146

  6.5%

  $4,981,058

  7%

  $4,625,268

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,392,875

  Geo Method

  $2,392,875

• Alternative Use

  Use

  Valuation

  Residential

  $6,176,512

  Hospitality

  $5,657,652

  Educational

  $4,707,100

  Medical

  $4,868,984

  Retail

  $7,322,154

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.7942

Longitude

-80.1417

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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