1390 on the River | 1390 NW 14th Ave
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1390 on the River 1390 NW 14th Ave
15,563 SF 100% Leased Office Building Miami, FL 33125 £4,381,720 (£282/SF) 7.23% Net Initial Yield
Investment Highlights
- Stable Investment: Features a long-term lease agreement with the county, providing a secure cash flow.
- Strategic Positioning: Located near the intersection of NW 14th Avenue and NW 13th Terrace, just north of the Dolphin Expressway.
- Access and Proximity: Close to major highways, with easy access to Wynwood, Downtown Miami, Brickell, Edgewater, South Beach, LoanDepot Park, and MIA
- Recent Developments: Underwent significant renovations, reaching full occupancy in 2017. The county recently renewed their lease at market rates.
- Adjacent Developments: One block north of River Landing, a new luxury mixed-use project encompassing 2 million SF of retail and residential space
Executive Summary
Colliers is pleased to present the opportunity to acquire 1390 on the River, a boutique office building located at 1390 NW 14th Avenue, Miami, FL. The property offers outstanding upside potential and is located in the second largest medical district in the United States. The property was renovated and fully leased up in 2017. Ninety percent of the leases expire in the third quarter of 2023, which allows a potential purchaser to raise rents to market rate or an owner/user to occupy the space.
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Property Facts
Sale Type
Investment
Property Type
Office
Building Size
15,563 SF
Building Class
B
Year Built/Renovated
1960/2016
Price
£4,381,720
Price Per SF
£282
Net Initial Yield
7.23%
NOI
£316,892
Percent Leased
100%
Tenancy
Multiple
Number of Floors
5
Typical Floor Size
3,113 SF
Building FAR
1.62
Lot Size
0.22 AC
Zoning
T6-12-0 - T6-12 max. twelve (12) stories.
Parking
13 Spaces (0.84 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Route
- Controlled Access
- Commuter Rail
- Security System
- Air Conditioning
- Balcony
Walk Score ®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 01-3135-013-0040 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £2,116,019 |
PROPERTY TAXES
Parcel Number
01-3135-013-0040
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£2,116,019
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1390 on the River | 1390 NW 14th Ave
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