1500 Washington Avenue - Miami Beach, FL 33139

Listing Price:	$10,200,000
CAP Rate:	5.66%
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 Leases for Additional Five-Year Term
• Seller Has Recently Installed a Brand-New Roof on the Property
• Corporate Five Guys Tenant has Strong Store Sales and Invested $625,000Corporate Five Guys Tenant has Strong Store Sales and Invested $625,000Into their Space in 2018
• Over 5,000 SF of Additional Buildable Square Footage
• Ideal Small Bay Configuration Just South of Lincoln Road

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 100 percent occupied trophy strip center has fouradditional small bays, all of which are rented by successful local food conceptsthat are ideally located on busy Washington Avenue. The property sits on 8,100square feet of land and has excellent visibility and frontage on the signalizedcorner. In addition, the seller has recently installed a brand new roof. There isalso 5,000 square feet of undeveloped area that can be added to the property.