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1771 West Ave

19,672 SF Retail Building Miami Beach, FL 33139 $39,000,000 ($1,983/SF) 3.50% Cap Rate

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Investment Highlights

Corner location with exposure to Dade Boulevard and Alton Road Miami Beach
Redevelopment opportunity
Close to beaches, intracoastal, convention center, and all parts of Miami Beach

Surrounded by new buildings
Incredible location, close to all support facilities in Miami Beach

Executive Summary

Incredible property in Miami Beach. Rare opportunity. Perfect for re-development. Surrounded by new buildings. Close to Beaches, Intracoastal, Close to Downtown MIAMI. Busy corner location with great exposure to Major Roads, Dade Avenue and Alton Road.

Offering Memo

Property Facts

Sale Type

Investment or Owner User

Sale Conditions

1031 Exchange

Property Type

Retail

Property Subtype

Freestanding

Building Size

19,672 SF

Building Class

Year Built

1965

Price

$39,000,000

Price Per SF

$1,983

Cap Rate

3.50%

NOI

$1,365,000

Tenancy

Single

Building Height

2 Stories

Building FAR

0.79

Lot Size

0.57 AC

Zoning

CD-2 - The CD-2, medium intensity district provides for commercial activities, services, office and related activities which serve the entire city

Parking

24 Spaces (0.81 Spaces per 1,000 SF Leased)

Frontage

130 FT on West Avenue

Amenities

24 Hour Access
Bus Line
Conferencing Facility
Corner Lot

Dedicated Turn Lane
Mezzanine
Security System

Signage
Signalized Intersection
Tenant Controlled HVAC

Accent Lighting
Recessed Lighting
Air Conditioning

MAJOR TENANTS

Retailer
19,672 SF
-
Triple Net
Jun 2023

The ODP Corporation (NASDAQ:ODP) is a leading provider of products and services through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, a B2B digital procurement solution, online presence, and a network of Office Depot and OfficeMax retail stores. Through its operating companies Office Depot, LLC; ODP Business Solutions, LLC; Veyer, LLC; and Varis, Inc., The ODP Corporation empowers every business, professional, and consumer to achieve more every day.

Tenant	Industry	SF OCCUPIED	RENT/SF	Lease Type		Lease End
	Retailer	19,672 SF	-	Triple Net		Jun 2023

Space Availability

1st Floor
19,672 SF
Retail
-
Now

Incredible exposure in Miami Beach, with frontage on West Avenue and Dade Boulevard. Solid building with high ceilings. Located in the heart of Miami Beach Sunset Harbour overlay district. Adequate parking on site.