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1428-1438 Alton Rd

7,344 SF Retail Building Miami Beach, FL 33139 $15,000,000 ($2,042/SF) 7.22% Cap Rate

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Investment Highlights

Rare Miami Beach Medical Marijuana Dispensary
NNN Lease With 5% Annual Increases-Hedging Against Inflation
High Barrier of Entry Market and Cannabis Dispensary Use-Location Has Intrinsic Value as All Sites on Miami Beach are Taken

Building Completely Renovated by the Tenant Showing Strong Commitment to the Location
Oversized Corner Lot With Plenty of Parking and Future Development Potential
250 Ft Linear Feet of Frontage on Alton Road and 14th Court

Executive Summary

Marcus & Millichap is pleased to present the opportunity to acquire a prime commercial property located at 1428 Alton Road, Miami Beach. This asset is subject to a NNN lease with Sunburn Cannabis Dispensary that features rare, five percent annual rental increases throughout the base and option terms. This property is situated on an oversized corner lot with excellent visibility and access coming from the north or south. It’s convenient, on-site parking lot is located behind the building. Being one of the larger lots you’ll see on Miami Beach and with its favorable CD-2 zoning, it has strong residual value and significant development potential.