1226 Normandy Dr, Miami Beach FL 33141

$4,900,000

Description

Prime North Beach Commercial Opportunity – Income-Producing Property with Redevelopment Potential. Located in the heart of North Beach, this exceptional commercial property is surrounded by ongoing new business activity, luxury condominium developments, and high-end construction throughout the Beach/Collins and North Bay Village. Strategically positioned between these thriving areas, the property benefits from strong visibility, traffic, and continued neighborhood growth. The existing shopping center is currently home to 9 established businesses, providing immediate income-producing potential for a new owner. Each of the 9 suites has its own individual FPL electric and water/sewer setup, offering flexibility and ease of management. All current tenants are secured under 2-year leases with options to renew, creating stability and an attractive opportunity for an investor seeking existing cash flow. The property currently offers the potential for approximately a 5.5% capitalization rate while maintaining the existing configuration. For investors and developers looking beyond the existing income stream, the property also offers significant redevelopment potential. Create approximately 14,350sqf of under air. The additional space could accommodate a wide range of uses, including, Schools and educational facilities, Professional and corporate offices, Medical and wellness offices, recording studios, Creative and entertainment businesses, Retail and service-oriented businesses

Listing courtesy of Casey Loundy, One Sotheby's International Realty · Updated 9/3/2026