825 Collins Avenue

Miami Beach, FL

For Sale

Ownership Request Proposals

OVERVIEW

LOCATION:
825 Collins Avenue, Miami Beach, FL 33139

Neighborhood: South Beach, Miami

Asset Type: Development Site/Land

 

Description

Besen & Associates and EP Realty, as exclusive agent for Ownership, are pleased to offer for sale 825 Collins Avenue, Miami Beach, FL 33139 (the “Property”); a 7,350± SF vacant development site located in the world famous South Beach Historic District. The property is in the heart of the Collins Avenue Fashion corridor, adjacent to some of the most recognized national retailers. Neighboring tenants include Banana Republic, H&M, A/X Armani Exchange, Zara, Victoria' s Secret, Guess Jeans and many more. The 825 Collins Avenue site has 50 feet of frontage on Collins Avenue and is zoned Mixed Use Entertainment (MXE), allowing up to 14,700± SF of buildable area and a maximum buildable height of 50 feet and 5 floors. Permitted uses include retail, hotel, multi-family and office.

 

The current owners have obtained Miami Beach Historic Board approval for the development of a 10,000± SF two-story retail building, and the project is shovel ready with 100% complete permitted construction drawings. The construction drawings are paid for in full and can be assigned to the purchaser.

 

This is an incredible opportunity for an investor/developer to purchase the last remaining vacant lot in the Collins Fashion District. Average net rents in the corridor are well over $100/SF. Average sale prices for fully rented multi-floor retail properties on Collins Avenue have recently spiked. This investment generates a pro-forma return of over 7.65% upon completion.

 

  • Last remaining vacant development site in the Collins Avenue Fashion District (5th Street to 9th Street on Collins Avenue)

  • Permitted uses include: Multi-Family, Retail, Hotel, Commercial

  • Up to 14,700± SF building may be constructed as-of-right, with a maximum of 5-stories

  • 825 Collins Avenue sits amongst prominent national retailers including Banana Republic, A/X Armani, Zara, Victoria' s Secret, Guess Jeans and many more

  • Investor pro-forma cap rate is over 7.65% upon completion and stabilization of property

  • Rare opportunity to build brand new retail space with full ceiling heights and floor-to-ceiling glass storefront in the Art Deco Historic District of South Beach

  • Seller has obtained Miami Beach Historic Board approval and fully permitted construction drawings for a 10,000± SF Retail Building

  • Approved Architectural Plans available upon request

 

 

 

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