Nadlan Invest - Alton Road Investment Offering at Miami Beach En

Situated in a desirable submarket, the property comprises 20 units and stands amidst an area witnessing remarkable population growth, with the Miami metropolitan area ranking as the ninth largest in the U.S. The average household income in Miami Beach exceeds $116,000, reflecting the area's affluence, while the average home value stands at $563,000. Conveniently located near various amenities such as Whole Foods Market, Starbucks, and the Miami Beach Golf Club, the property also benefits from its proximity to major employment centers like the Port of Miami and the Miami Beach Convention Center. Miami Beach's allure extends beyond its amenities, boasting over 200 designer boutiques, national retail stores, and a renowned fine dining scene. Additionally, the scarcity of land and high barriers to entry make Miami Beach the second-highest density area in the U.S., following only New York City. Limited supply of rental units further accentuates the investment potential, with only 213 multifamily buildings in the South Beach zip code 33139, totaling 4,376 units since the 1980s. The property, currently under a commercial triple net lease agreement, ensures stable cash flow for investors, with the tenant covering all real estate taxes, operating expenses, and insurance. Furthermore, the investment presents opportunities for future development, either through lot combination or leveraging the "Live Local Act" initiative, which provides tax incentives for multifamily developments. Analyzing sales comps in the area underscores the attractiveness of the investment, with favorable pricing metrics compared to similar properties in South Beach. With Miami's booming population growth, diverse industries, and favorable tax environment, the investment opportunity in Alton Road represents a strategic move for investors looking to capitalize on Miami Beach's promising long-term prospects and solidify their foothold in this dynamic market.