1500 Washington Avenue - Miami Beach, FL 33139

Listing Price:	$10,200,000
CAP Rate:	5.13%
Proforma CAP Rate:	5.77%
Lot Size:	8,100 SF
Price per SF:	$1,422.40
Year Built:	1948
Rentable SF:	7,171 SF

INVESTMENT HIGHLIGHTS

• Five Guys Burgers, Taco Rico & Sriracha House Have All Extended Their Leasesfor Additional Five Year Term
• Seller Currently Installing a Brand New Roof on the Property
• Five Guys Invested $625,000 Into Their Space in 2018
• Over 5,000 SF of Additional Buildable Square Footage
• Ideal Small Bay Configuration Just South of Lincoln Road
• Immediate Upside By Renting Vacant 564 SF Bay

LOCATION HIGHLIGHTS

• Rare Corner South Beach Multi-Tenant Retail Property
• Incredible Visibility and Frontage on Washington Avenue
• Located Only Two Blocks South of Lincoln Road
• Surrounded By Multiple High-Density Hotels
• Large Sidewalk Providing for Abundant Outdoor Dining and Ideal Covid Safe Environment

PROPERTY DESCRIPTION

Marcus & Millichap is proud to exclusively market for sale Five Guys Plaza, a 7,116Marcus & Millichap is proud to exclusively market for sale Five Guys Plaza, a 7,116square foot multi-tenant strip center located on the hard-Northwest corner of15th street and Washington Avenue in the heart of world-famous Miami Beach,Florida. Anchored by corporate guaranteed Five Guys Burgers, a national tenantwith over 1,500 locations, this trophy strip center has four additional small bays,three of which are fully occupied by successful local food concepts that are ideallylocated on busy Washington Avenue. The property sits on 8,100 square feet ofland and has excellent visibility and frontage on the signalized corner. In addition,the seller is currently installing a brand new roof on the property which will becompleted soon. There is also 5,000 square feet of undeveloped area that can beadded to the property.