Wynwood Development Portfolio - Miami 21

This portfolio presents a 19,650 SF three-parcel assemblage with approximately 26,274 SF leasable space by the south-eastern gateway into Wynwood’s Art & Entertainment District.
With existing cash flow generated from leases at below market value, the property has tremendous upside potential to further increase revenues while benefiting from the imminent transformation of Wynwood’s SE Quadrant. Several significant new projects such as CIM Group’s Wynwood Square, with approximately 87,000 SF office & retail space as well as 257 apartments, and Quadrum Global’s fashionable Arlo Hotel, are located within only a block or two of the property. The immediate neighborhood currently represents the most promising proposition in all of Wynwood, with inventory likely to tighten and values expected to rise.
The property is therefore perfectly positioned for future redevelopment such as street retail, office, hospitality or residential use. Wynwood’s flexible zoning and the property’s favorable T5-O classification allow for numerous development strategies.
Taking advantage of existing Wynwood Public Benefits Program bonuses the property potentially allows for up to 8 stories in height, approximately 125,000 SF gross buildable space and 66 residential / commercial units or 132 hotel rooms. A purchase of the adjacent property to the south, on the highly visible corner of NW 20 Street and NW Miami Ct can be negotiated as well, effectively doubling the development potential and significantly reducing the per SF land cost - please inquire about details.