Located at 3601 North Miami Avenue in Miami, the site sits at the gateway of three of Miami’s three most dynamic, high-growth districts: Miami Design District, Midtown Miami, and Wynwood.
The property comprises four conjoined lots being sold together, which are all zoned T6-8-O NRD-1, allowing up to 8 stories by right and 12 stories with bonuses of mixed-use infill development. Under this zoning, the property can be developed into up to 207 units (310 with bonuses) or licensed for up to 414 hotel keys.
The building has seen booming business for the last fifty years, but now the business is planning to serve their clientele elsewhere as a strategic business move.
The building, located on the border of the iconic Wynwood and Midtown neighborhoods, will offer about 195,000 square feet of leasable Class A office space and nearly 25,900 square feet of prime street-level retail space. CLICK ON THE HEADLINE FOR MORE
Plans also include a 500-plus space parking garage on the site. CLICK ON THE HEADLINE FOR MORE
Commercial real estate investment services firm Marcus & Millichap announced the sale of the 23,490-square-foot lot. CLICK ON THE HEADLINE FOR MORE
Miami’s urban core markets generated $1.2 billion in retail property sales last year, according to a recent CIASF commercial real estate report. CLICK ON THE HEADLINE FOR MORE
The property is contiguous to the corner building on Northwest 24th Street and Fifth Avenue owned by Moishe Mana. CLICK ON THE HEADLINE FOR MORE
The parcels were purchased for $200,000 in 1995. CLICK ON THE HEADLINE FOR MORE
In total, about 205 acres could see zoning changes. CLICK ON THE HEADLINE FOR MORE
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