Leased 27th Ave Grove Central TOD, Miami FL 33133
***CONFIDENTIAL OFFERING- SITE ADDRESS/FULL DISCLOSURES FOR QUALIFIED PROSPECTS ONLY* Rare opportunity in corridor to capitalize on the extraordinary upside in rents and value add components (ie create add’l retail/office on ground floor by converting 50% of covered parking area within existing footprint). 26.853 SF office building- 3 floors + 36 parking (covered + outdoor)- renovated 2018-2020 | 18,600 SF lot 88% leased; 3 blocks from Coconut Grove, minutes to Coral Gables, Brickell & transit. Value add- Redevelopment up to 5 stories & 62,801 SF (T5-O zoning) + bonus 35-40% upside in rents (market is $35-40 NNN) vs existing low $20s MG leased during pandemic (renewals in 2024) Add 2 floors or (B) 62K buildable SF & floors T5-O Optional stock sale for qualified prospects.
