Vacant-User

Midtown Plaza

235 NE 29th St, Miami, FL 33137

Listing Price: $6,000,000

Gross SF
12,075
Rentable SF
9,730
Price/Gross SF
$496.89
Lot Size
0.13 acres
Year Built
2018

Investment Overview

Marcus & Millichap is proud to present Midtown Plaza, a brand-new ground-up retail development located in Edgewater Miami, Florida. This three-story retail / restaurant / showroom / office building offers approximately 12,075 gross square feet of which 9,730 square feet is net leasable space. The property is situated on a .13-acre lot (5,641 square feet) built in November 2018. 235 Northeast 29th Street is currently vacant, providing an excellent value-add investment opportunity in leasing and occupancy. This property is in shell condition and ready for any owner-user to move in. Equipped with three grease traps, this property is ideal for a restaurant user. This asset is located within an opportunity zone providing tax incentive to re-invest their unrealized capital gains into dedicated Opportunity Funds. Midtown Plaza is in the epicenter of Midtown and Edgewater, on the corner lot of Northeast 29th St and Northeast 2nd Court with excellent exposure and visibility. This property is in between Biscayne Blvd (US1), which has high traffic counts of over 34,500 Vehicles Per Day (VPD) and Northeast 2nd Avenue, which has a 9,000 daily vehicle count. This location provides easy access to the MacArthur Causeway, Interstate-95, 195, 395, and Dolphin Expressway (FL836). Furthermore, this AAA location is walking distance to Wynwood, The Shoppes at Midtown Miami, Downtown Miami, and its surrounding exploding residential neighborhoods. East Edgewater is an exciting new area, emerging as a new hotspot for Miami’s cultural, commercial, and residential development. Edgewater’s loose borders are Northeast 17th Street to the south, Northeast 37th Street/I-195/the Julia Tuttle Causeway to the north, the Florida East Coast Railway to the west and Biscayne Bay to the east. The neighborhood has a unique Bayfront position, dramatic views, and proximity to Miami’s ultimate offerings in terms of arts, luxury shopping, high-end hotels, entertainment, and corporate offices. With a strong condominium market and more retail and residential development in the pipeline, the area is experiencing a surge of growth and an influx of inhabitants.

Investment Highlights

  • Provides for a Multitude of Uses both Retail and Office - Property Has 3 Grease Traps Ideal for Possible Restaurant Use with Rooftop Add-In
  • Great Exposure with Excellent Visibility - Located Between Northeast 2nd Street and Biscayne Boulevard on Northeast 29th Street
  • Situated in the Epicenter of the Midtown District of Miami within an Opportunity Zone
  • Excellent Value Add Opportunity with Upside through Leasing or Suited Perfectly for an Owner/User

Exclusively Listed By

Listing Price: $6,000,000

Gross SF
12,075
Rentable SF
9,730
Price/Gross SF
$496.89
Lot Size
0.13 acres
Year Built
2018

Investment Highlights

  • Provides for a Multitude of Uses both Retail and Office - Property Has 3 Grease Traps Ideal for Possible Restaurant Use with Rooftop Add-In
  • Great Exposure with Excellent Visibility - Located Between Northeast 2nd Street and Biscayne Boulevard on Northeast 29th Street
  • Situated in the Epicenter of the Midtown District of Miami within an Opportunity Zone
  • Excellent Value Add Opportunity with Upside through Leasing or Suited Perfectly for an Owner/User

Investment Overview

Marcus & Millichap is proud to present Midtown Plaza, a brand-new ground-up retail development located in Edgewater Miami, Florida. This three-story retail / restaurant / showroom / office building offers approximately 12,075 gross square feet of which 9,730 square feet is net leasable space. The property is situated on a .13-acre lot (5,641 square feet) built in November 2018. 235 Northeast 29th Street is currently vacant, providing an excellent value-add investment opportunity in leasing and occupancy. This property is in shell condition and ready for any owner-user to move in. Equipped with three grease traps, this property is ideal for a restaurant user. This asset is located within an opportunity zone providing tax incentive to re-invest their unrealized capital gains into dedicated Opportunity Funds. Midtown Plaza is in the epicenter of Midtown and Edgewater, on the corner lot of Northeast 29th St and Northeast 2nd Court with excellent exposure and visibility. This property is in between Biscayne Blvd (US1), which has high traffic counts of over 34,500 Vehicles Per Day (VPD) and Northeast 2nd Avenue, which has a 9,000 daily vehicle count. This location provides easy access to the MacArthur Causeway, Interstate-95, 195, 395, and Dolphin Expressway (FL836). Furthermore, this AAA location is walking distance to Wynwood, The Shoppes at Midtown Miami, Downtown Miami, and its surrounding exploding residential neighborhoods. East Edgewater is an exciting new area, emerging as a new hotspot for Miami’s cultural, commercial, and residential development. Edgewater’s loose borders are Northeast 17th Street to the south, Northeast 37th Street/I-195/the Julia Tuttle Causeway to the north, the Florida East Coast Railway to the west and Biscayne Bay to the east. The neighborhood has a unique Bayfront position, dramatic views, and proximity to Miami’s ultimate offerings in terms of arts, luxury shopping, high-end hotels, entertainment, and corporate offices. With a strong condominium market and more retail and residential development in the pipeline, the area is experiencing a surge of growth and an influx of inhabitants.

Exclusively Listed By

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