Mixed-Use

Gladisco

Listing Price: Request For Offer

Number of Units
111
Gross SF
63,697

Investment Overview

Marcus & Millichap, as exclusive listing agent, is excited to offer for sale a 1.49-acre mixed-use development site (Gladisco Portfolio) encompassing one-half of a city block in Miami Beach, Florida in the heart of South Beach. The site is currently improved with a total of seven buildings which have 98 residential units and 10,632 square feet of retail space with 13 tenants. There are five multifamily buildings totaling 68 units, one commercial building with seven commercial spaces, and a mixed-use building consisting of 30 units over six commercial spaces.

Zoning is comprised of a mix of CD-2 for the parcels fronting on Washington Avenue and RO for the parcels which front on Drexel Avenue. All but one of the parcels are considered a contributing historic property. With very few remaining development sites of this size, this offering represents a very rare opportunity for a developer or long-term operator to acquire a portfolio of nine contiguous commercial and multifamily buildings on seven separate parcels from a family owner that has acquired, owned and operated the properties going back to the 1970s.

Investment Highlights

  • Potential to develop 200 +/- hotel rooms on Washington Avenue.
  • Potential to develop an additional 42 residential units on Drexel Avenue.
  • Ability to control one of the largest contiguous sites in the heart of South Beach.
  • Controlling seven separate parcels, providing flexibility to sell individual parcels.
  • World renowned location in the heart of South Beach, just off Lincoln Road.
  • Two blocks from the beaches and surrounded by billions of dollars of development.

Exclusively Listed By

  • Evan P. Kristol

    Executive Managing Director Investments

    (954) 245-3459

    Email Evan

    License(s): FL: SL640466

    Fort Lauderdale

  • Felipe J. Echarte

    Senior Vice President Investments

    (954) 245-3444

    Email Felipe

    License(s): FL: SL696115

    Fort Lauderdale

  • Marc E. Strauss

    Senior Vice President Investments

    (954) 245-3500

    Email Marc

    License(s): FL: BK 434908, FL: CQ1000281, CO: IA.100071129

    Fort Lauderdale

Listing Price: Request For Offer

Number of Units
111
Gross SF
63,697

Investment Highlights

  • Potential to develop 200 +/- hotel rooms on Washington Avenue.
  • Potential to develop an additional 42 residential units on Drexel Avenue.
  • Ability to control one of the largest contiguous sites in the heart of South Beach.
  • Controlling seven separate parcels, providing flexibility to sell individual parcels.
  • World renowned location in the heart of South Beach, just off Lincoln Road.
  • Two blocks from the beaches and surrounded by billions of dollars of development.

Investment Overview

Marcus & Millichap, as exclusive listing agent, is excited to offer for sale a 1.49-acre mixed-use development site (Gladisco Portfolio) encompassing one-half of a city block in Miami Beach, Florida in the heart of South Beach. The site is currently improved with a total of seven buildings which have 98 residential units and 10,632 square feet of retail space with 13 tenants. There are five multifamily buildings totaling 68 units, one commercial building with seven commercial spaces, and a mixed-use building consisting of 30 units over six commercial spaces.

Zoning is comprised of a mix of CD-2 for the parcels fronting on Washington Avenue and RO for the parcels which front on Drexel Avenue. All but one of the parcels are considered a contributing historic property. With very few remaining development sites of this size, this offering represents a very rare opportunity for a developer or long-term operator to acquire a portfolio of nine contiguous commercial and multifamily buildings on seven separate parcels from a family owner that has acquired, owned and operated the properties going back to the 1970s.

Exclusively Listed By

  • Evan P. Kristol

    Executive Managing Director Investments

    (954) 245-3459

    Email Evan

    License(s): FL: SL640466

    Fort Lauderdale

  • Felipe J. Echarte

    Senior Vice President Investments

    (954) 245-3444

    Email Felipe

    License(s): FL: SL696115

    Fort Lauderdale

  • Marc E. Strauss

    Senior Vice President Investments

    (954) 245-3500

    Email Marc

    License(s): FL: BK 434908, FL: CQ1000281, CO: IA.100071129

    Fort Lauderdale

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