1220 Collins AveMiami Beach, FL 33139

Property Details for 1220 Collins Ave

Year built

1937

Construction

CONCRETE

Lot size

0.16 AC

Property size (Sq ft)

20,232 SF

Zone code

6501:COMMERCIAL

Property type

Retail properties

Property subtype

Outlet malls

APN

02-3234-008-1060

APU

232340081060

Description

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.

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.7833

Longitude

-80.1314

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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