ADD FREE LISTING

Sunburn Miami Beach-Brand New Store-10 Year Tenant Commitment

1428 Alton Road, Miami Beach, FL, USA
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  • Cannabis Real Estate Listings | Cannabis Retail Properties For Sale
  • Cannabis Real Estate Listings | Cannabis Retail Properties For Sale
  • Cannabis Real Estate Listings | Cannabis Retail Properties For Sale
  • Cannabis Real Estate Listings | Cannabis Retail Properties For Sale
  • Cannabis Real Estate Listings | Cannabis Retail Properties For Sale
  • Cannabis Real Estate Listings | Cannabis Retail Properties For Sale
  • Cannabis Real Estate Listings | Cannabis Retail Properties For Sale
  • Cannabis Real Estate Listings | Cannabis Retail Properties For Sale

Listing ID : 811012

Listed On June 20, 2024 View Count 17

Listing Updated June 20, 2024

Price For Sale:
$15,000,000
Cap Rate:
7%
Size:
7,344 Sq. Ft.
Lot Size:
0.34 Acres
Zoning:
CD-2
Facility & Tenant Improvements:
Renovation was all encompassing including new Roof, Electrical, A/C, Plumbing, Floors, Interior Walls, Bathrooms, Exterior Stucco, Parking Lot & Lighting
Terms of Sale:
Cash
NDA Required:
Yes
Company Name:
Marcus & Millichap
Phone:
786-522-7009
Email:
sandelinlistings@marcusmillichap.com
Description :

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.

  • Rare Miami Beach Medical Marijuana Dispensary
  • Building Completely Renovated by the Tenant Showing Strong Commitment to the Location
  • NNN Lease With 5% Annual Increases-Hedging Against Inflation
  • Oversized Corner Lot With Plenty of Parking and Future Development Potential
  • High Barrier of Entry Market and Cannabis Dispensary Use-Location Has Intrinsic Value as All Sites on Miami Beach are Taken
  • 250 Ft Linear Feet of Frontage on Alton Road and 14th Court

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Marcus & Millichap
License:FL SL636794

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