Metro1 Logo

Just Reduced | Upper Eastside Development Opportunity with Income

October 4, 2012

Metro 1 Commercial recently announced a reduced price on an Upper Eastside Development with over an acre of amazing Miami commercial real estate. Just east of US1 and I-95, this fantastic property is located one block from the popular 79th Street Causeway leading to Miami Beach. The property is unique for its location with plenty of space for parking, construction and more.

Excellent opportunity to acquire a 5 Folio assemblage east of Biscayne Boulevard and fronting 79th Street. The properties are in close proximity to Pelican Harbor Marina, North Bay Village, and Normandy. There is currently stable income and a 4 COP Liquor License tied to the property. This is a rare chance to acquire income-producing properties with future development possibilities. The offering consists of an operating nightclub and two four unit multi-family buildings. The entire assemblage sits on a 1.06-Acre lot (46,390 SF).

The Upper East Side is primarily a residential neighborhood, composed largely of historic single-family homes from the 1920s, with Biscayne Boulevard running along the center of the neighborhood with mid-rise and high-rise office towers, hotels, and apartments. The MiMo Historic District runs along Biscayne Boulevard, and includes a large number of MiMo hotels from the 1950s and 1960s, that have been preserved, and have recently begun to be renovated, and turned into stores, restaurants and boutique hotels.

Total Building Size: 11,637 SF
Lot Size: 1.06 Acres
Zoning: T-5O, T-5R
REDUCED Price : $2.6 M
Cap Rate:: 8%

Please click the brochure button below to download the complete offering memorandum. Metro 1 Commercial is a leading Miami Commercial real estate company specializing in the sale of buildings and land in Midtown, Wynwood, Upper-Eastside, Design District and more. The company has done over $60 million this year alone and continues to thrive in these up-and-coming communities.

Call Us Now