MIAMI—1575 Alton Road, a 15,000-square-foot corner site one block south of Lincoln Road in Miami Beach, has traded hands. Bridgestone Retail Operations sold the asset for $10 million.

HFF represented the seller. Managing director Luis Castillo and senior managing director Daniel Finkle led the charge.

"Opportunities to redevelop hard corner sites with extraordinary exposure in Miami Beach are extremely rare," Castillo tells GlobeSt.com. "This asset appealed to a variety of investors."

A Firestone service center currently occupies 1575 Alton. The site, however, could accommodate a new mixed-use, multi-level structure up to 22,250 square feet. 

Built in 1935, the property is located at the southeast corner of Alton Road and 16th Street. That's one block south of Lincoln Road, one of the premier shopping districts in the country and top tourist attractions in Miami. Alton Road is Miami Beach's primary commercial north-south thoroughfare.

Lincoln Road and the surrounding streets saw plenty of activity in 2015. About a month ago, Avison Young started marketing Lincoln West Gardens, a five-story 40-unit residential tower at 1250 Lincoln Road in Miami Beach.

"There is limited available opportunities to invest in properties on high-street corridors as iconic as Lincoln Road, especially since market rents continue to be at the apex for both retail and residential asset classes," Castillo tells GlobeSt.com. "Offers are currently being accepted, and we expect savvy investors will want to take advantage of the tremendous upside to be gained from mixed-use redevelopment within this location."

December saw a "once-in-a-lifetime" Miami Beach land auction. And a Lincoln Road bulk condo deal hit the market in November.