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OFFICE/RETAIL BUILDING Miami - Allapattah

2 Story Office/Retail Building | ± 101,000 SF | 2.68 Acres (Inclusive of DOT Land)

1101-1109 NW 22nd Street, Miami, FL 33127

FOR SALE

Presented by:

Jeff Cohen | Director - Commercial Division | 305.505.4638 Saad Hamdan | VP - Commercial Division | 305.951.2211

Miami-Allapattah Office/Retail Building

QUICK Facts

> Folio No.: 01-3126-053-0080 & 01-3126-053-0090

> Adjusted Building SF: 93,259

> Typical Floor Plate: ±50,000 SF

> Number of Floors (In Building): 2

> Ceiling Height: 12’ - 16’

> Parking: TBD Spaces

> Land Area: 2.68 Acres (116,758 SF) | Inclusive of DOT Land

PROPERTY Highlights

> Located in the Epicenter of Allapattah

> Signage Opportunity

> Expansive rooftop area that can be utilized as a green area together with mixed use Retail, Restaurant, Cafe … etc.

> Close proximity to major new proposed developments, museums. galleries and the Miami Health District

> Easy access to I-95, I-395, Airport Expressway 112, Miami Health District, Miami River and MIA Airport

> Close proximity to major new proposed developments, museums. galleries and the Miami Health District

SALE Information

Sale Price: • $20,000,000

Year Built: • 1927

Zoning Designation: • D2 | District Zone Industrial | Allows up to 8 Floors (By Right)

Property Tours: • To be scheduled between 10 AM to 5 PM • 24 hr notice required

Property Information Package Page | 02

This information has been secured from sources we believe to be reliable. BROWN HARRIS STEVENS makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

BROWN HARRIS STEVENS has been appointed as the exclusive Sale advisor for Allapattah Arcade Office/Warehouse Building, located at 1109 NW 22nd Street and 1101 NW 22nd Street, the heart and main street of Allapattah. The site resides prominently on a 2.68 Acre parcel across to the proposed Wennet Complex (±860,000 SF Residential - 231,000 SF Office, 76,000 SF School and 75,000 Sf Retail), and adjacent to the new Rubell Family Collection Museum, and a metro-rail transit-hub (Santa Clara Station), in addition to numerous new projects by Miami’s most innovative developers.

This historic building features 2 stories with a typical ±50k SF floor plates , dramatic high ceilings, ample windows and an architecturally significant colonnades on the interior. The asset benefits from an expansive rooftop area that can be utilized as a green area together with mixed use Retail, Restaurant, Cafe … etc. The asset is well suited for re-positioning as a major office/retail destination, Multifamily Development, Loft complex or Arts Center. Potential rents may exceed $1.5M/Gross/Annum.

Easily accessible from I-95, I-395, Airport Expressway 112 as well as public transportation options. and minutes away from Miami Health District, Miami River, Miami Airport.

Property Description







MAP | Location

OFFCIE/WAREHOUSE BUIDLING MIAMI- ALLAPATAH



Property Survey




Allapattah, gets its name from the Seminole word for alligator, was once a rural area settled around the time Miami was incorporated in 1896. It stretches from the Miami River north to Northwest 41st Street, and from Interstate 95 (the border with Wynwood) to Northwest 27th Avenue, and is locked in relative isolation by the river, I-95 and the 112 expressway.

Technically it includes the Jackson Memorial hospital complex, but it’s better known for its big produce market and the 10 blocks of discount clothing outlets along Northwest 36th Street.

Given its prime location, Allapattah has already been discovered by speculators looking for bargains almost certain to increase in value. So many speculators are buying homes cheaply and flipping them that, according to one report, prices are rising faster in Allapattah than in Miami Beach. Warehouse prices are rising sharply as well.

Last year, 1111 Lincoln Road developer Robert Wennett paid $16 million for the famous Allapattah produce market, The Miami Produce Center proposal calls for T6-24-O zoning, which would allow for buildings of up to 48 stories with bonuses, 1,237 residential units and nearly 1,500 parking spaces. The developer is proposing 19-story interconnected buildings with about 1,200 residential units and 1,149 parking spaces.

The buildings would include about 860,000 square feet of residential space, 231,000 square feet of office, about 114,000 square feet of hotel, a 76,000- square-foot school and nearly 75,000 square feet of retail space.

Allapattah Submarket Overview




The new Allapattah Market, an open-air food and crafts marketplace run by the people from Wynwood’s popular Wood

Tavern, marked its grand opening, likely only the first in a series of spots that will draw in outsiders to the neighborhood.

The popularity of the monthly Market at Wood in Miami’s Wynwood neighborhood led The Wood Tavern Group to open the Allapattah Market, a weekend market for the artisan community to

showcase their crafts.

In all, the project would total about 1.36 million square feet with ground floor retail and a school. Ingels, founder of BIG, also designed Grove at Grand Bay for Terra Group, a pair of twisting condominium towers in Coconut Grove. That development marked the first condo project for Ingels in the U.S.

The Rubell family, meanwhile, has already announced the move of its landmark art collection to Allapattah from Wynwood, where their private museum helped start it all. Their new museum will be adjacent to subject site.

McKenzie’s Allapattah warehouse home was bought last year by investor Michael Simkins for $3.58 million. Coincidentally, McKenzie will also build the Rubells’ new Allapattah museum. It will include 40 exhibition galleries, a research library, lecture hall, event space, storage, sculpture garden and a restaurant.

It is clear that Allapattah is rapidly transitioning from an entire local unknown to a powerful buzzword in the business, investment, design, creative uses, and artistic community.

The Rubell family, meanwhile, has already announced the move of its landmark art collection to Allapattah from Wynwood, where their private museum helped start it all.

McKenzie’s Allapattah warehouse home was bought last year by investor Michael Simkins for $3.58 million. Coincidentally, McKenzie will also build the Rubells’ new Allapattah museum. It will include 40 exhibition galleries, a research library, lecture hall, event space, storage, sculpture garden and a restaurant.

It is clear that Allapattah is rapidly transitioning from an entire unknown local to a powerful buzzword in the business, investment, design, creative and artistic community.

Allapattah Submarket Overview




Art installation at the Rubell Family Collection

The proposed Wennett ProjectMiami Produce Center Development

http://www.miamiherald.com/entertainment/visual-arts/article117582758.html




Saad Hamdan MBA . MSIE . BSME . TRC VP Commercial Division | FL License: BK3273427

BROWN HARRIS STEVENS [email protected] t 305.951.2211 b 305.666.1800 BHSMiami.com | 2665 S. Bayshore Dr. | Suite 100 | Miami, FL 33133

DISCLAIMER STATEMENT THIS PROPERTY INFORMATION HAS BEEN PREPARED SOLELY FOR INFORMATION PURPOSES TO ASSIST A POTENTIAL BUYER OR LESSEE IN DETERMINING WHETHER IT WISHES TO PROCEED WITH AN IN-DEPTH INVESTIGATION OF THE PROPERTY. THE SELLER AND ITS AGENTS, BROWN HARRIS STEVENS, SPECIFICALLY DISCLAIM ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY OR COMPLETENESS OF THIS PROPERTY INFORMATION PACKAGE OR OF ANY OF ITS CONTENTS. ALL INFORMATION IS PROVIDED FOR GENERAL REFERENCE PURPOSES ONLY. THE PROPERTY IS BEING SOLD IN "AS IS," "WHERE IS" CONDITION AS OF THE DATE OF THE CLOSING THEREON. THE SELLER WILL MAKE NO AGREEMENT TO ALTER, REPAIR OR IMPROVE THE PROPERTY. THE SELLER AND BROWN HARRIS STEVENS DISCLAIM ANY WARRANTY, GUARANTY OR REPRESENTATION, ORAL OR WRITTEN, PAST OR PRESENT, EXPRESS OR IMPLIED, CONCERNING THE PROPERTY DISCUSSED IN THIS PROPERTY INFORMATION PACKAGE. THE SELLER AND BROWN HARRIS STEVENS HAVE ONLY LIMITED KNOWLEDGE OF THE CONDITION OF THE PROPERTY. THE PURCHASE OF THE PROPERTY WILL BE BASED SOLELY ON A BUYER'S OWN INDEPENDENT INVESTIGATION AND FINDINGS AND NOT IN RELIANCE ON ANY INFORMATION PROVIDED BY THE SELLER AND/OR BROWN HARRIS STEVENS.




Jeff Cohen Director - Commercial Division | FL License: SL3057348

BROWN HARRIS STEVENS [email protected] t 305.505.4638 b 305.666.1800 BHSMiami.com | 2665 S. Bayshore Dr. | Suite 100 | Miami, FL 33133

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