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1239 Fact Sheet

1239 Alton Road

Miami Beach, FL 33139

$6,750,000 | For Sale

7 Commercial Units


Amazing Opportunity to purchase a multi-unit property in the heart of South Beach and on the commercial premium artery – Alton Road. 5 Tenant Property with rental income and availability for owner occupied possibility. Perfect for Interior Design, Exterior Design, Showroom and Construction Office. Amazing Location. 7,000 Square feet of Commercial Retail property.

General Information 

  1. There have been extensive Capital Improvements all throughout the property in way of updated plumbing, updated electrical, and New AC in some parts of the building. There has been nothing done in the last 12 months, but over 30 years there have been many improvements and upgrades.

  2. There was a new Barrell Tile Roof put on about 8 years ago and this has a warranty.

  3. The Café space was completely renovated 100%: New plumbing, electrical panel and wiring, brand new AC, and installation of a grease trap, new flooring, new water heater.

  4.  Extensive monies were paid towards Electrical Engineering plans, and Architectural plans.

  5.  There was a new trash room / chute built on to the rear of the building as required by code for the Café.

  6.  Units 3,4, & 5 have all had renovations continually, a new kitchenette area with granite counters, brand new bathroom (in the cottage) with shower and toilet (all new plumbing, electrical, sink, toilet, really high-end faucets and hardware). The 2nd bathroom in the cottage is also new with all new fixtures, toilet, sink etc.

  7. A new aluminum awning structure was built in the rear of the property.

  8. Zoned Full Retail from the front wall to the back wall/gate. This is rare for this area. The property is grandfathered in for Retail Use.

INCOME AND EXPENSES

As of February 2024

  1. Unit 1: Alton Road Nurseries - $8,000.00 (Triple Net) per month; Expires: N/A (month-to-month lease)

  2. Unit 2: Café - $4,326.51 (Triple Net) per month; Expires 01/31/2025 (year-to-year lease)

  3. Unit 3: Luxury Yacht Rentals - $2,376.92; Expires 1/31/24 (year-to-year lease)

  4. Unit 4: Boutique - $1,674.20 Year to year lease; Expires 5/31/24 (year-to-year lease)

  5. Units 5 & 6: Hair Salon - $2,248.21 Year to year lease; Expires 2/28/2024 (year-to-year lease)

  6. Parking Income: $100 per month; Expires: N/A (month-to-month lease)

  7. Event Revenue: Café and Courtyard Rental - Average $1,000.00 (Potential Additional Income)

 

Total:

​$18,725.84 Per Month…………..

​$224,710.08 Annually……………

No expenses, Triple Net leases for Alton Road, Hair Salon, and Café all pay property taxes, insurances, etc.

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