298 Lincoln RdMiami Beach, FL 33139

Property Details for 298 Lincoln Rd

Year built

1947

Construction

CONCRETE

Lot size

0.09 AC

Property size (Sq ft)

8,533 SF

Zone code

6600:COMMERCIAL,LIBERAL

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

02-3234-019-0870

APU

232340190870

Description

This ±8,602 square foot mixed-use retail/office building presents an exceptional redevelopment opportunity on Miami Beach's prestigious Lincoln Road. Boasting 40 feet of frontage on this world-class retail corridor, the property sits on approximately 0.10 acres and benefits from favorable CD-3 zoning with a 2.75 Floor Area Ratio (FAR), allowing for significant expansion and repositioning. Its prime South Beach location, just one block from the beach, places it amidst a vibrant mix of hotels, retail establishments, and entertainment venues, ensuring high foot traffic and strong demand. The surrounding area demonstrates robust demographics, with a 5-mile radius encompassing a median home value of $455,000, an average household income of $95,718, and approximately 236,878 residents. This presents investors with an unparalleled chance to capitalize on immediate value-add potential through repositioning and long-term lease-up at market rates. The property's location between Collins and Washington Avenues guarantees irreplaceable Lincoln Road frontage, making it a truly trophy asset in a dynamic and high-demand market. This is a rare chance to acquire a landmark property in one of the most sought-after locations in the country.

• CAP approach

  CAP return

  Valuation

  6%

  $9,135,390

  6.5%

  $8,432,668

  7%

  $7,830,334

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,063,764

  Geo Method

  $5,063,764

• Alternative Use

  Use

  Valuation

  Residential

  $8,432,668

  Hospitality

  $7,724,278

  Educational

  $6,426,508

  Medical

  $6,647,526

  Retail

  $9,996,791

Location Insight

City

Miami Beach

County

Miami-dade

State

Florida

Latitude

25.7904

Longitude

-80.1308

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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