667 Lincoln RdMiami Beach, FL 33139

Property Details for 667 Lincoln Rd

Year built

1935

Property size (Sq ft)

1,089 SF

Zone code

6600:COMMERCIAL,LIBERAL

Property type

Retail properties

Property subtype

Retail space

APN

02-3234-219-0030

APU

232342190030

Description

This exceptional investment opportunity presents a thriving Pizza Tua restaurant located at 667 Lincoln Road in Miami Beach, Florida, 33139. The property, a Class B retail space, boasts a prime location and a strong financial performance. The 2,500 square foot restaurant operates under a Net lease with a corporate guarantee, ensuring consistent income. Currently enjoying 100% occupancy, the business generated a Net Operating Income (NOI) of $178,041 in the last year, representing a remarkable 25% capitalization rate. The lease commenced January 15, 2023, and extends for a total of nine years, with two five-year renewal options. Built in 1935, the restaurant offers significant potential for revenue growth through the addition of breakfast service, delivery options, and a liquor license. The sale includes all equipment and inventory, making this a truly turnkey operation. The asking price is $1,700,000. The seller is motivated and open to exploring seller financing options. This is a rare opportunity to acquire a profitable, established restaurant in a high-demand location with a long-term lease and significant upside potential. Annual sales exceed $3 million. Rent bumps are included in the lease agreement. The property is privately owned.

• CAP approach

  CAP return

  Valuation

  6%

  $1,382,130

  6.5%

  $1,275,812

  7%

  $1,184,683

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,050,675

  Geo Method

  $1,050,675

• Alternative Use

  Use

  Valuation

  Residential

  $1,076,195

  Hospitality

  $985,789

  Educational

  $820,165

  Medical

  $848,372

  Retail

  $1,275,812

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.7907

Longitude

-80.1355

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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