Shopping Strip
Normandy Isle Retail/Development Site
969 Normandy Dr, Miami Beach, FL 33141
Listing Price: $13,500,000
Cap Rate
6.51%
Gross SF
14,475
Rentable SF
14,475
Price/Gross SF
$932.64
Lot Size
0.91 acres
Year Built
1953
Investment Overview
Marcus & Millichap is please to present for sale, Normandy Isle Retail Development Site located in Miami Beach, Florida.
Normandy Isle Retail/Development Site
Investment Highlights
- Normandy Isle Grocery Anchored Retail Property on Two Large, Developable Lots Zoned CD-2 and RM-1, Totaling 39,750 SF of Land
- Offering Allows for up to Five Stories of Multifamily / Mixed-Use Development, or the Ability to Raise Rents on Existing Leases, which are Short-Term and 52% Below Market
- Includes 14,475 SF Retail Building with In-Place NOI of $450,000 – 100% Occupied by Sabor Tropical Supermarket and Advance Auto - Both Expire in 2028 with No Renewal Options
Listing Price: $13,500,000
Cap Rate
6.51%
Gross SF
14,475
Rentable SF
14,475
Price/Gross SF
$932.64
Lot Size
0.91 acres
Year Built
1953
Investment Highlights
- Normandy Isle Grocery Anchored Retail Property on Two Large, Developable Lots Zoned CD-2 and RM-1, Totaling 39,750 SF of Land
- Offering Allows for up to Five Stories of Multifamily / Mixed-Use Development, or the Ability to Raise Rents on Existing Leases, which are Short-Term and 52% Below Market
- Includes 14,475 SF Retail Building with In-Place NOI of $450,000 – 100% Occupied by Sabor Tropical Supermarket and Advance Auto - Both Expire in 2028 with No Renewal Options
Investment Overview
Marcus & Millichap is please to present for sale, Normandy Isle Retail Development Site located in Miami Beach, Florida.
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