for sale 1701 alton rd - images1.loopnet.com

1701 ALTON RDFOR SALE

COVERED LAND / FUTURE DEVELOPMENT OPPORTUNITY

MIAMI BEACH, FL 33139

JAMIE ROSE MANISCALCOCOMMERCIAL ADVISOR / TEAM LEAD201 264 [email protected]

901 NE 79 ST | MIAMI, FL 33138305 570 2600APEXCAPITALREALTY.COM

MIGUEL PINTOPRESIDENT/MANAGING BROKER

305 632 [email protected]

901 NE 79 STMIAMI, FL 33138

APEXCAPITALREALTY.COM

JAMIE ROSE MANISCALCOCOMMERCIAL ADVISOR / TEAM LEAD


MIGUEL PINTOPRESIDENT / MANAGING BROKER


TABLE OF CONTENTS

OFFERING SUMMARY

LEASE ABSTRACT

FOLIO LOCATIONS

RENTAL PRO FORMA

LEASE COMPARABLES

PROPERTY IMAGES

BIRD’S EYE VIEW

RETAIL MAP

LOCATION MAP

3

4

5

6

7

8

9

10

11

JAMIE ROSE MANISCALCO | COMMERCIAL ADVISOR/TEAM LEAD | 201 264 0113MIGUEL PINTO | PRESIDENT/MANAGING BROKER | 305 632 2575

This information has been obtained from sources believed reliable. We have not verified it andmake no guarantee, warranty or representation about it. ©2020-2021 APEX CAPITAL REALTY LLC. 3

APEX Capital Realty is proud to present a 37,500 Square Foot prime hard corner lot on the signaled intersection of Alton Road and 17th Street, only one block from the famed Lincoln Road high street.

The property features an 18,000 Sq. Ft. highly visible corner commercial building half of which is currently leased to tenant DaVita Dialysis, bringing in over $400K of annual income. Containing a total of four parcels complete with parking lot, the property can be maximized as an existing retail/office center, or utilized as a development site for the future to build multi-family, hotel, retail, office, or mixed-use due to the walkability of the neighborhood.

OFFERING SUMM

ARY

Land Area:

Existing Building Area:

Frontage:

Zoning:

Traffic Count:

Max. FAR:

Max. Height:

Asking Price:

37,500 SF (0.86 acres)

19,439 SF

100’ on Alton Road, 150’ on 17th Street

CD-2 & RM-1

54,400 VPD

2.0 (for CD-2) / 1.25 (for RM-1)

55 FT (for CD-2) / 40 FT (for RM-1)

Upon Request

Tenant: DaVita Dialysis

SF Occupied: +/- 8,000

Lease Type: NNN

Rent Commencement Date: August 27, 2012

Term: 10 years

Lease Expiration: August 26, 2022

Options: One 3-year option (Tenant must notify landlord of renewal by Aug. 26, 2021)

Increases: Greater of 3% per annum or increases in CPI (not to exceed 8%)

Base Rent: $409,067.64 annually

Note: As tenant only occupies ½ of the building, they only pay ½ of the property taxes + CAM expenses

LEASE ABSTRACT

LEASE ABSTRACT





FOLIO / LOCATIONS

ADDRESS

FOLIO#

BUILDING SQ FT

LOT SIZE SQ FT

ZONING

TOTAL BUILDING SQ FT

TOTAL LOT SIZE SQ FT

1701 ALTON RD

02-3234-017-0080

19,724

15,000

CD-2

21,304

37,500

1720 LENOX AVE

1710 LENOX AVE

1109 17 ST1701 ALTON RD

1109 17 ST

02-3234-004-0160

0

7,500

RM-1

1710 LENOX AVE

02-3234-004-0170

0

7,500

RM-1

1720 LENOX AVE

02-3234-004-0180

1,580

7,500

RM-1

ALTON RD

17 ST



RENTAL PRO FORMA

CURRENT NET INCOME

$409,068

($39,210)

($11,950)

($23,778)

$334,130

PROPERTY ADDRESS

1701 ALTON RD SPACE #1

1701 ALTON RD SPACE #2

PARKING LOT

1720 LENOX AVE (SINGLE FAMILY)

NOI

BUILDING AREA:

LAND AREA:

19,439 SQ FT

37,500 SQ FT

Note: Pro Forma takes into account reassessed taxes and market rents. Assumes existing tenant at 1701 Alton Rd. does not exercise option.

2022

$421,340

$1,029,510

($6,588)

$2,892

$1,447,154

2023

$810,000

$1,060,396

---

$4,332

$1,874,728

2024

$834,300

$1,092,208

---

$5,813

$1,932,321



LEASE COMPARABLES

PROPERTY TYPE

RETAIL (NNN)

RETAIL (NNN)

RETAIL (NNN)

RETAIL (NNN)

RETAIL (NNN)

RETAIL (NNN)

PROPERTY ADDRESS

1695 ALTON RD

1045 5 ST

700 OCEAN DR

1700 ALTON RD

1058 COLLINS AVE

1570 ALTON RD

TOTALS

WEIGHTED AVG

TENANT

BANK UNITED

SUNTRUST

OCEAN DRIVE RESTAURANT

REGION’S BANK

DAVID’S CAFE

TD BANK

LEASE SQ FT

4,500

1,400

3,000

2,000

2,477

2,000

15,377

CURRENT RATE

$75.56

$120.00

$112.00

$105.00

$68.06

$105.00

$80.38

1695 ALTON RD 1045 5 ST 700 OCEAN DR 1700 ALTON RD 1058 COLLINS AVE 1570 ALTON RD



PROPERTY IMAGES



bird’s eye view

17 stalton rd

+/- 11,439 SFVACANT AREA



RETAILER MAP

1701 ALTON RDMIAMI BEACH, FL 33139

ALTON RD

ALTON RD

BISCAYNE BAY

LOCATION MAP

VENETIAN ISLANDS

MID BEACH

sunset islands

SOUT

H BE

ACH



VENETIAN WAY

JULIA TUTTLE CAUSEWAY

alton rd

dade

blvd

pine tree dr

alton rd

alton rd

alton rdalton rd

VENETIAN WAY

miami beach convention center

miami beach city hall

mt sinai medical center

miami beach golf club

REGAL S BEACH

lincoln road

1701 alton rd

LINCOLN RD GARAGE

BELLE ISLE

305 570 2600901 NE 79 ST | MIAMI, FL 33138

APEXCAPITALREALTY.COM

JAMIE ROSE MANISCALCOCOMMERCIAL ADVISOR / TEAM LEAD201 264 [email protected]

MIGUEL PINTOPRESIDENT/MANAGING BROKER


for sale 1701 alton rd - images1.loopnet.com

Documents