Investment Highlights
Rare Small Bay Retail Center In Miami Beach
Scheduled 3-5% Annual Rental Increases
Two Hundred Five Feet Of Linear Frontage With Forty-Five Foot Bay Depths-Ideal For Tenants And Maximizing Future Rent Potential
Three Of Six Bays Are F&B/Restaurant Space With Strong Residual Value And Demand
Short Term Leases Allowing For Near Term Value Creation
Tenant Mix Caters To The Needs Of Locals And Tourists Alike
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire a prime commercial property located at 1100 15th Street, Miami Beach. This asset is anchored by award winning, Via Emilia 9 Italian Restaurant. The asset also is home to five other tenants, two of which are food and beverage operators, as well as three other neighborhood retail tenants. Being in close proximity to Lincoln Road Mall, the tenant mix caters to the needs of locals as well as tourists. The landlord friendly NNN leases feature 3-5% annual rent increases and only one tenant has a renewal option which provides the opportunity for near term value creation on the part of the landlord.
