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Urban-High Street

Wynwood Renovated Infill Retail Opportunity

169 NW 23rd St, Miami, FL 33127

Listing Price: $4,850,000

Cap Rate
5.40%
Gross SF
3,959
Rentable SF
3,959
Price/Gross SF
$1,225.06
Lot Size
0.12 acres
Year Built
1970

Investment Overview

Marcus & Millichap is proud to exclusively market the Wynwood NW 23rd Street Retail Strip, a 3,959 square foot two tenant building located in the heart of the world famous Wynwood arts and entertainment district of Miami, FL. The property has two small bay restaurant tenants, La Sandwicherie and Baccano, both are successful well-known concepts in the Miami area with long term leases and strong annual base rental increases. The building sits just east of busy NW 2nd Avenue on the main retail/nightlife street in Wynwood, and has incredible curb appeal with rare outdoor dining space for both tenants. The building has also benefitted from major renovations both by the owners and tenants. This is an ideal cash flowing investment for a Buyer looking for a stable, multi-tenant retail property in the middle of the dynamic Wynwood submarket.

Investment Highlights

  • Multi-tenant retail offering priced under $5 million in the heart of Wynwood Arts & Entertainment District
  • 100% occupied property - both restaurant tenants are paying full rent with no Covid related concessions
  • Strong 4% base rental increases for each lease

Exclusively Listed By

Urban-High Street

Wynwood Renovated Infill Retail Opportunity

Listing Price: $4,850,000

Cap Rate
5.40%
Gross SF
3,959
Rentable SF
3,959
Price/Gross SF
$1,225.06
Lot Size
0.12 acres
Year Built
1970

Investment Highlights

  • Multi-tenant retail offering priced under $5 million in the heart of Wynwood Arts & Entertainment District
  • 100% occupied property - both restaurant tenants are paying full rent with no Covid related concessions
  • Strong 4% base rental increases for each lease

Investment Overview

Marcus & Millichap is proud to exclusively market the Wynwood NW 23rd Street Retail Strip, a 3,959 square foot two tenant building located in the heart of the world famous Wynwood arts and entertainment district of Miami, FL. The property has two small bay restaurant tenants, La Sandwicherie and Baccano, both are successful well-known concepts in the Miami area with long term leases and strong annual base rental increases. The building sits just east of busy NW 2nd Avenue on the main retail/nightlife street in Wynwood, and has incredible curb appeal with rare outdoor dining space for both tenants. The building has also benefitted from major renovations both by the owners and tenants. This is an ideal cash flowing investment for a Buyer looking for a stable, multi-tenant retail property in the middle of the dynamic Wynwood submarket.

Exclusively Listed By

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