OPERATING EXPENSES

Real Estate Taxes: $21,324

Maintenance (HOA): $27,649

Insurance: $1,039

Sales Tax (5.7%): $8,180

Management (5% of GPR): $8,166

TOTAL EXPENSES: $66,358

EXPENSES/SF: $12.82 SF/YR

SOBE OFFICE CONDO

1680 Michigan Ave, Units 1001A-D, Miami Beach, FL 33139

OFFERING PRICE

Price: $1,350,000

Down Payment: 100%/$1,350,000

Current Occupancy: 75%

Rentable Square Feet: 2,338 SF

Price/Rentable SF: $577.41

Cap Rate: 6.27%

Lot Size: Office Condo

Year Built/Renovated: 1974/2005

VITAL DATA

Current Net Operating Income: $84,713

BASE RENT

Occupied Space: $143,520

Available Space at Market Rents: $19,800

Gross Potential Rent: $163,320

Expense Reimbursement: -

Gross Potential Income: $163,320

Vacancy/Collection Allowance (7.5% of GPR): $12,249

Effective Gross Income: $151,071

Total Expenses: $66,358

Net Operating Income: $84,713

EXECUTIVE SUMMARYSouth Beach Office Condos1680 Michigan Ave Units 1001 A-D

Miami Beach, FL 33139

■4,306 SF Condo in a Class A Office Building

EXCLUSIVE LISTING

Tiktin Real Estate Investment Services is pleased to present the South Beach Office Condo opportunity, a combined 2,338 square foot office suite located in Miami Beach, Florida. This office condo sits on the northeast corner of the 10th floor with unobstructed views of beautiful South Beach. The space is currently occupied by the owner/operator with sub-leases in place for income day-one. However, a 60-day vacate clause in the lease allows for property to be delivered completely vacant if chosen to execute.

The subject property is located at the corner of a main east-west artery (17th Street) and Michigan Avenue, which is 2-blocks from another main north-south artery, Alton Road. The mid-size office building is only one of two office condominiums on Miami Beach. Foreign or Domestic investors, as well as, shrewd end-users will find the 4-folio office condo offering a true gem given the value, location, and market timing. One of only a handful of office ownership opportunities on South Beach for a small business operator or market with no scheduled office product being built will continue to apply upward pressure on occupancy and lease rates. Stronger area demographics also justify higher education and income brackets, making this office market a significant competitor for a limited labor pool.

EXECUTIVE SUMMARY

Investment Highlights ■ Location, Location, Location - Steps From

Lincoln Road

■Modernized Class B+ Office Building■Beautiful South Beach Views From This 10th

Floor Prime Office Space■Over 2,300 Square Feet Contiguous Corner

Office Space■Deliverable With Or Without Tenant Income■Assignable Parking Included■Strong Area Demographics

TIKTIN REAL ESTATE INVESTMENT SERVICESTel: (305) 363-4750 Tel: (844) 4- TIKTINFax: (305) 675-0774 TiktinRealEstate.com

Mark WohlFirst Vice President InvestmentsMWohl@tiktinrealestate.com

This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify for any inaccuracies.

South Beach Office Condos1680 Michigan Ave Units 1001A-D

Miami Beach, FL 33139