Class A Trophy Asset with Add Value in Class A area!!!!

1920 Alton Road Miami Beach, FL 33139

1920 Alton Road, Miami Beach, FL, 33139
BUILDING OUTSIDE FROM SOUTH
1920 Alton Road, Miami Beach, FL, 33139
FOR SALE
Property Type:
Neighborhood Center
Amount:
$23,000,000
Last Verified:
Jan 25, 2021

Highlights

  • Perfectly located
  • Very well Built
  • NNN INCOME Approx 5%
  • Highest Traffic count in the city
  • ** Add value play-Recent Miami Beach City iPhone to allow 50,000 Sq ft. And height 50 to 65
  • Buyer purchases and can develop on top of Structure 30,000 sf
  • Or Hold future value of Newly constructed Development
  • By far the most attractive deal at the price point

Description

Miami Beach's one of a kind Trophy Property! Class A asset in a superior location with highest traffic count in the city. The building consists of a total of 20,713 square feet. . It has been constructed perfectly with strength and precision. Beautiful finishes inside and out due work of the professionals in that business. The Restaurant comes with a spectacular kichen worth over $1 Million. NNN pro-forma rent brings in a Cap rate of 5%(currently 50% owner occupied). In addition, the property has an incredible additional value component which has the a upgrade in zoning. CD-2 Zoning now allows the property to go up to 65 Feet height and is allowed to build 50,000 sq.ft. total. The Floor to Area ratio was recently changed from 1.5 to 2.0 by the City of Miami Beach! Any individual, partnership, fund or end user that is seeking a trophy asset in Miami Beach a great return and location plus additional value component; this deal is one of a kind and is available!

Located in Sunset Harbor area of Miami Beach on a prime corner with full visibility from most traffic ed section of Alton Road with a 48,000 car per day count. Sunset Harbour is one of the best areas in Miami Beach and most central with the interstate acess to 3 direct roads to Miami mainland: I 195 4 minutes away, I 395 is 5 minutes away and the Venetian Causeway is less than a minute from the location. Also it is walking distance from all Venetian Islands, all the Sunset Islands and North Bay Road properties.


Year Built: 1960
Building Size: 20713sq ft
Building Class: A
Lot Size: 0.59 acres

Map of 1920 Alton Road, Miami Beach, FL, 33139

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.