624 Collins Avenue - Miami Beach, FL 33139

Listing Price:	$7,250,000
Proforma CAP Rate:	7.00%
Lot Size:	7,000 SF
Price per SF:	$910.65
Year Built:	1922 / 2001
Rentable SF:	8,450 SF

INVESTMENT HIGHLIGHTS

• Incredible value-add retail investment opportunity in South Beach (Miami Beach, FL)
• Interest-Only Seller Financing Available for Up to 70% of the Purchase Price
• Vacant 8,450 rentable square foot building formerly occupied by Club Monaco
• Ideal for owner/occupier or investor looking to re-tenant for immediate upside
• Flexible MXE Entertainment use zoning allows for commercial, hospitality and multifamily uses

LOCATION HIGHLIGHTS

• Located in the exclusive 6th street and Collins Avenue corridor near Armani Exchange, Sunglass Hut and many other tenants
• Excellent visibility and frontage on the west side of Collins Avenue
• Just one block west of Ocean Drive and the beaches
• Rear of property sits in front of the lobby for the newly constructed Goodtime Hotel

PROPERTY DESCRIPTION

Marcus & Millichap is proud to exclusively market 624 Collins Avenue, a vacant 8,450 square-foot two-story retail property located on world famousMarcus & Millichap is proud to exclusively market 624 Collins Avenue, a vacant 8,450 square-foot two-story retail property located on world famousCollins Avenue in the heart of the South Beach submarket of Miami Beach, Florida. The property was previously occupied by Club Monaco for manyyears and is an ideal opportunity for an investor to re-tenant, and/or occupy for their own use. The Seller is offering qualified Buyers Interest only Seller Financing for up to 70% of the purchase price. The building benefits from flexible MXE entertainment use zoning which allows for both hotel, commercial and residential uses. The property has excellent visibility along the west side of Collins Avenue inthe exclusive 6th street corridor, where many upscale brands sit nearby including Armani Exchange, Aldo and Sunglass Hut. This corridor is only oneblock west of famous Ocean Drive and the beach, and is surrounded by constant beach related tourists and walking traffic. Directly behind the propertyis the brand new construction Goodtime Hotel which is owned and operated by producer/artist Pharrell Williams and David Grutman, a successfullypromoter and entrepreneur.