Home » Properties » 355 Alcazar Ave, Coral Gables FL 33134

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Commercial Land at 355 Alcazar Ave, Coral Gables

Prime commercial land with a newly renovated restaurant and solid lease income in Coral Gables.

$2,350,000

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MLS #A11147181

Listing Updated: 2026-07-11 00:41:07

Listed By: Keller Williams Capital Realty

Overview

Located in the vibrant city of Coral Gables, this commercial land at 355 Alcazar Ave offers a renovated restaurant currently generating stable rental income. The property benefits from a secure lease with a 3% annual increase, contributing to long-term financial predictability. Coral Gables is known for its charming Mediterranean architecture and lively business community, making this location highly desirable for commercial ventures. Proximity to upscale shopping districts and dining options enhances the appeal for business owners and investors alike.

Property Highlights

Newly renovated restaurant space, steady lease income with 3% annual increase, located in prestigious Coral Gables, close to shopping and dining.

Property Details

City: Coral Gables

State: FL

Zip Code: 33134

Address: 355 Alcazar Ave, Coral Gables FL 33134

Year Built:

Property Type: Commercial Land

Property Sub Type:

Listing Office Name: Keller Williams Capital Realty

County: Miami-Dade County

Garage Spaces:

Parking Features:

Interior Features:

Exterior Features:

Waterfront: No

Pool: No

HOA Fee: $0

Annual Tax: $14,070

Days On Market: 1603 Days

Original Listing Description

Recent renovated restaurant with incoming 108,000$ + 3% increase yearly.

Property Location

Explore the surrounding area, nearby amenities, and neighborhood access for this property.

355 Alcazar Ave, Coral Gables FL 33134

About This Neighborhood

Coral Gables is celebrated for its Mediterranean-style architecture and flourishing business scene. The area surrounding 355 Alcazar Ave boasts a dynamic mix of retail, dining, and office spaces, offering a lively yet refined neighborhood atmosphere. Its central location allows convenient access to major roads and local amenities, accommodating a variety of business types. The blend of residential and commercial developments supports a vibrant community lifestyle that appeals to entrepreneurs as well as established firms.

Walkability & Lifestyle

Situated in downtown Coral Gables, this property offers excellent walkability to a variety of restaurants, cafes, and boutique shops. Residents and visitors enjoy easy access to cultural venues and outdoor spots without needing a car. The neighborhood’s streets are pedestrian-friendly, fostering a lively urban environment where business and leisure seamlessly blend. This walkable setting is especially attractive to entrepreneurs seeking to benefit from foot traffic and a vibrant community vibe.

Things To Do Nearby

Coral Gables provides an array of nearby experiences, from fine dining and shopping on Miracle Mile to waterfront parks and golf courses. Visitors and locals alike have options for outdoor recreation as well as arts and entertainment. Marinas and cultural attractions contribute to a well-rounded lifestyle. This variety appeals to business owners tapping into both daytime and evening crowds, creating ample opportunities for customer engagement throughout the week.

Nearby Schools

Families and business owners in Coral Gables benefit from access to several well-regarded schools nearby. The area’s commitment to quality education makes it a practical choice for those relocating or investing with community considerations. Good schools contribute to local stability and can enhance the desirability of commercial locations due to the neighborhood’s strong family presence. This helps support diverse business activities catering to residents and visitors alike.

Why Buyers Like This Area

Buyers drawn to this commercial land appreciate its prime location within Coral Gables’ bustling commercial corridor and the security of a long-term tenant. The property's proximity to established retail and dining spots enhances its business viability. Investors value the steady rental income paired with the neighborhood’s upscale environment, offering both lifestyle benefits and commercial stability. The Mediterranean charm and walkable setting further enrich the appeal for a wide range of buyers.

Investment Potential

This commercial land featuring a renovated restaurant with an established lease presents a reliable income stream and future growth potential. Situated in Coral Gables, the property attracts business owners seeking a strategic location with consistent foot traffic. The yearly 3% rent increase offers a gradual rise in income, aligning well with market trends and economic growth in the area. Buyers looking for commercial opportunities will appreciate the financial visibility and local market demand surrounding this property.

Market Trends

The Coral Gables commercial market maintains steady growth thanks to sustained demand for retail and restaurant spaces. Properties with well-established tenants and long-term leases, such as this site on Alcazar Ave, reflect investor confidence in the area. Increasing rental values and a dense mix of businesses contribute to a positive market outlook. Buyers can expect a balanced environment where commerce and community coexist, driving interest in spaces ready for continued operation and expansion.

Rental Income Potential

This property includes a recently renovated restaurant with a lease generating $108,000 annually and a secure 3% yearly rental increase. Coral Gables’ popularity as a commercial hub supports consistent tenant demand, enhancing the appeal for rental income. Seasonal tourism combined with a strong local customer base helps maintain steady occupancy rates. Prospective buyers interested in rental properties will find value in the income predictability and the area’s continual foot traffic and visibility.