826 Collins Avenue - Miami Beach, FL 33139

Listing Price:	$7,450,000
Proforma CAP Rate:	6.01%
Lot Size:	7,000 SF
Price per SF:	$726.19
Year Built:	1923 / 2003
Rentable SF:	10,259 SF

INVESTMENT HIGHLIGHTS

• Rare Collins Avenue Value-Add Mixed Use Commercial Property
• Seller Offering Attractive Interest-Only Seller Financing For up to 70% of Purchase Price
• 3,300 SF Three Bedroom Penthouse Apartment Includes Rooftop Deck and Swimming Pool Currently Leased to a Short-Term Rental Operator
• Property is 70% Vacant and has Significant Upside in Re-Renting Vacant Retail/Office Bays and Bringing Apartment Lease to Market
• Ideal For Retail/Office Owner-User Who is Looking for Apartment Cashflow to Offset Expenses

LOCATION HIGHLIGHTS

• Property Has Excellent Visibility and Signage Opportunities and is Located Just One Block West of Ocean Drive and The Beach
• 8th Street Corridor is Home to Multiple Successful Hotels and Retailers Including Armani Exchange
• MXE - Mixed Use Entertainment Zoning Allows for Hotel, Retail, Apartment and Office Uses
• Exclusive Two Car Garage Included in Back of Property

PROPERTY DESCRIPTION

Marcus and Millichap is proud to exclusively market 826 Collins Avenue, a 10,259 SF mixed-use commercial property located on world famous Collins Avenue just one block west of Ocean Drive and the beaches in Miami Beach. The property is three stories and sits in the MXE Zoned entertainment district. On the top floor is an exclusive three-bedroom penthouse apartment that is rented to a short-term rental company at a below market rent. The lease allows an investor to operate or occupy the unit for themselves or re-lease the unit for more money in the near future. The luxury apartment includes a rooftop deck and pool along with a 2-car garage within the building.

On the ground floor is a vacant 4,300 SF flagship retail space that was formerly occupied by Levi Strauss & Company Jeans. On the 2nd floor are two 1,162 SF vacant retail/office spaces that are ideal for local small businesses looking for destination retail or small office users looking for signage and a presence in South Beach. This is a rare opportunity to buy a value-add mixed-use commercial property in the heart of a dense commercial corridor. The seller is offering attractive interest-only seller financing for up to 70 Percent of the purchase price for qualified buyers.