ADAM FREEMAN (305)962-6900
DEVELOPMENT OPPORTUNITY - 4,786 SF COMMERCIALLY ZONED LAND
5100 NORTH MIAMI AVE MIAMI, FL, 33127OFFERING MEMORANDUM
AV E N U E S E L I T E P R I V A T E S C H O O L
5100 NORTH MIAMI AVE
SUBJECT PROPERTY
N MIAMI AVE
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CONDITIONS OF OFFERINGThis confidential Offering Memorandum was prepared by Coldwell Banker Residential Real Estate/NRT ("CB") and has been reviewed by Boxhaus Llc (“Boxhaus”). It contains selected information pertaining to the Property and does not purport to be all-inclusive, nor to contain all the information that a prospective investor may desire. This presentation is not an offer to sell or a solicitation to buy any securities, and is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement, or advice as to the actual return of this investment.
Sources of information contained within this Offering Memorandum include, but are not limited to: CoStar, Integrated Realty Resources, Google, MLS, and the US Census Bureau. Boxhaus expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions with any party at any time with or without notice. Boxhaus shall have no legal commitment or obligation to any investor reviewing this Offering Memorandum or making an offer to invest in the Property unless a written agreement has been fully executed, delivered, and approved by Boxhaus and any conditions to Boxhaus’s obligations thereunder have been satisfied or waived.
Except for any historical information, such matters discussed herein are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, and could result in the loss of principal. Each prospective investor is to rely upon its own investigation, evaluation and judgment as to the advisability of the investment described herein.
This Offering Memorandum is the property of CB and may only be used by parties approved by CB and Boxhaus The Property is being privately offered and by accepting this Offering Memorandum, the party in possession hereof agrees that its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of CB.The terms and conditions set forth apply to this Offering Memorandum in its entirety.
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TABLE
CONTENTS
EXECUTIVE SUMMARY 4
LOCATION OVERVIEW 5
PROPERTY OVERVIEW 6
MARKET ACTIVITY 9
CONCLUSION 16
of
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EXECUTIVE SUMMARYColdwell Banker is pleased to present the opportunity to purchase 5100 N Miami Ave, a 4,786 square foot commercially-zoned vacant corner lot in the heart of the rapidly changing Buena Vista neighborhood. The property is located only a few blocks north of the Design District, and less than one block from the Miami Jewish Health System’s Empathic Care Health Village, a $200+ million redevelopment project that will feature a state-of-the-art medical complex, 140-key hotel, new arts theater, cafes, community spaces and more.
The subject property presents a flexible development opportunity and is surrounded by various large scale planned developments, including the Avenues Global School (recently purchased for $60 million), the recently approved Magic City Innovation District, and the Eastside Ridge Development, collectively covering more than 75 acres of new construction retail, hospitality, office, healthcare and residential, all within a few blocks of the subject property!
While the Design District enters its next phases of development, and as the surrounding neighborhood goes through a transformation that will stimulate significant economic growth, value, and opportunity, don’t miss this limited chance to own a piece of one of the most rapidly changing neighborhoods in the world at a very competitive price!
N MIAMI AVE
ALL INFORMATION IS SUBJECT TO CHANGE, SHOULD NOT BE RELIED UPON FOR INVESTMENT PURPOSES, AND SHOULD BE CONFIRMED BY ANY PROSPECTIVE BUYER.
MIDTOWN
DESIGN DISTRICT
WYNWOOD
Buena Vista
Beach
DOWNTOWN 4
Address: 5100 North Miami Ave, Miami, FL, 33127
Folio #s: 01-31-24-013-1131
Lot Size: 4,786 SF
Zoning: T4-L
Price: $459,000.00
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Publix Supermarket
Miami Jewish Health Systems
Schools
Retail & Grocery
Recreation
Hospitals
Subject Property
Avenues Elite Private School
Morningside Park
LOCATION OVERVIEW
Bank of America
Walgreens
Upper Buena Vista
Design & Architecture Senior High
Lemon City Park
Dunkin Donuts
CVSInstitute of Contemporary Art
Little Haiti Cultural Center
The Cushman School
Lemon City Library
Metropolitan International School
Nicklaus Children's Hospital
Morningside Tennis Center
Proposed Eastside Ridge & Train Station
Caribbean Marketplace
Magic City Innovation District
ALL INFORMATION IS SUBJECT TO CHANGE, SHOULD NOT BE RELIED UPON FOR INVESTMENT PURPOSES, AND SHOULD BE CONFIRMED BY ANY PROSPECTIVE BUYER.
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PROPERTY OVERVIEW
N MIAMI AVE
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IAMI A
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N MIAMI AVE
N MIA
MI A
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AV E N U E S E L I T E P R I V A T E S C H O O L
MiMo DISTRICT NORTH EAST
SOUTH WEST
PROPERTY OVERVIEWPHOTOS
UPPERBeuna Vista
NW 51 ST
NW 51 ST
NW 51 ST
NW 52 ST
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PROPERTY OVERVIEWSURVEY
The subject property is zoned T4-L. T4 is also
known as “the General Urban Zone”, consisting of a variety of mixed-uses including general
commercial and retail use.
PERMITTED USES BY RIGHT:
General Commercial, Multi-Family Residential, Office, Research Facility, Religious Facitlity, Live-
Work, and more..
LOT SIZE & DIMENSIONS:
LOT SIZE: 4,786 SF DIMENSIONS: 97 FT X 49 FT
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ZONING INFORMATION
PROPERTY OVERVIEWDEVELOPMENT POTENTIAL
AV E N U E S E L I T E P R I V A T E S C H O O L
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PROPOSED
MARKET ACTIVITYINFLUENTIAL DEVELOPMENTS
TOP SCHOOLS & MEDICAL FACILITIES
MAR
KET A
NALY
SIS
ALL INFORMATION IS SUBJECT TO CHANGE, SHOULD NOT BE RELIED UPON FOR INVESTMENT PURPOSES, AND SHOULD BE CONFIRMED BY ANY PROSPECTIVE BUYER.
The World School, which opened in Manhattan in 2012 promising to become “architects of lives that transcend the ordinary,” will now have a Miami location on the site of the former Archbishop Curley-Notre Dame High School.Avenues said it hopes to begin offering programs for Miami students in 2021 and open its full campus in 2022, serving students ages 2-18. The school expects tuition to be in line with other Avenues campuses “and other top independent schools in Miami.” Avenues’ New York campus charges $54,000 a year; the school also has campuses in Sao Paolo, Brazil and Shenzhen, China.
15 ACRES - PURCHASED FOR $60 MM - NOV 20194949 NE 2ND AVE - THE AVENUES WORLD SCHOOL
Distance from 5100 N Miami Ave: .29 Mi
Miami Jewish Health System’s campus covers more than 20 acres. The $200 million renovation and expansion involves tearing down six of the 10 existing buildings and adding new structures, including a three-story complex for specialized medical use and accompanying garage. The four-phase project also calls for a five-story, 140-key hotel and conference center along with amenities such as an arts theater, café, creative arts program studio, community spaces, fitness center and garden.
$200M RENOVATION AND EXPANSION 5200 NE 2ND AVE - MIAMI JEWISH HEALTH SYSTEMS
Distance from 5100 N Miami Ave: 1 Block Away
MARKET ACTIVITYFACILITIES
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Eastside Ridge is planned to transform over 22 acres with 5.4 million square feet of new development in 14 buildings. The proposed community would have 3,157 residential units, 418 hotel rooms, 97,103 square feet of offices, 283,798 square feet of other commercial space and 5,246 parking spaces.
The plan calls for a train station with the property bounded on the east by the Florida East Coast Railway tracks, where Virgin Trains USA already runs and where the the public Tri-Rail also wants to start commuter service.
Eastside Ridge will be green. Nearly 20% of the 22 acre property will be committed to green space. A large park along NE 2nd Ave will be the first phase of this project, creating an immediate impact on the surrounding neighborhoods. In addition to the open spaces, all of the buildings will meet LEED standards, making Eastside Ridge one of the largest, green projects in South Florida.
11ALL INFORMATION IS SUBJECT TO CHANGE, SHOULD NOT BE RELIED UPON FOR INVESTMENT PURPOSES, AND SHOULD BE CONFIRMED BY ANY PROSPECTIVE BUYER.
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Recently passed city commission final approval!
Located just north of Wynwood and the Design District, Magic City Innovation District® – Little haiti encompasses approximately 18 acres and includes over 200,000 square feet of rentable space within 20 unique buildings, warehouses and mixed-use spaces.
Through sustainable, adaptive reuse techniques, developers are transforming existing factories, warehouses and historic buildings into unique spaces for offices, galleries, ateliers, cafes, restaurants, retailers and pop-up shops.
The combination of the neighborhood’s desirable location and affordable rental rates are attracting businesses that specialize in industry-leading art, architecture, new-tech, clean-tech, fashion, food, film, health & wellness, media, production, and software development.
12ALL INFORMATION IS SUBJECT TO CHANGE, SHOULD NOT BE RELIED UPON FOR INVESTMENT PURPOSES, AND SHOULD BE CONFIRMED BY ANY PROSPECTIVE BUYER.
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Upper Buena Vista is the latest shopping and entertainment district to grace the Biscayne corridor. Comprised of micro-boutiques, beauty retreats and independent restaurants. A self-proclaimed mini United Nations, diversity is a cornerstone with more than 20 countries represented: Brazil, Burkina Faso, Cameroon, Colombia, Costa Rica, Cuba, Ethiopia, France, Gabon, Haiti, Israel, Italy, Morocco, Spain, South Africa, Swaziland, Turkey, USA, Venezuela and Zanzibar.
The design for Upper Buena Vista was born out of passion for travel, artisan goods and what they call the Four T’s: Tulum, Tel Aviv, Thong Sala and Tokyo. Those influences are evident in retail huts that look like Japanese temples, bamboo trees that line the perimeter of the complex, a charming thatched-roof bungalow, and handcrafted tiles and stone finishings.
13ALL INFORMATION IS SUBJECT TO CHANGE, SHOULD NOT BE RELIED UPON FOR INVESTMENT PURPOSES, AND SHOULD BE CONFIRMED BY ANY PROSPECTIVE BUYER.
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The Miami Design District is a neighborhood dedicated to innovative fashion, design, architecture and dining experiences. 70% of the Design District is owned by Miami Design District Associates, a partnership between Dacra, founded and owned by visionary entrepreneur Craig Robins, and L Real Estate, a global real estate development and investment fund, specializing in creating luxury shopping destinations. Together Dacra and L Real Estate have actively transformed the once-overlooked area of Miami into a vibrant destination for residents and visitors by presenting the best shopping, cultural and culinary experiences within an architecturally significant context.
With 3 phases of construction nearing completion, the Miami Design District is currently home to more than 60 luxury boutiques and dozen restaurants that occupy approximately 700,000 square-feet of mixed-use commercial space. The next phase of development will add more than 250,000 square feet of high-end retail space, a 119-room hotel, and a new 900-car parking structure.
Rents have soared to over $300 per sf NNN in some cases within the Design District, establishing the strong likelihood that rental rates will continue to increase significantly along North Miami Avenue in the very near future and as the final phases of development begin.
14ALL INFORMATION IS SUBJECT TO CHANGE, SHOULD NOT BE RELIED UPON FOR INVESTMENT PURPOSES, AND SHOULD BE CONFIRMED BY ANY PROSPECTIVE BUYER.
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COMMERCIAL SALES DATA
SUBJECT PROPERTYAddress Price Lot Sq Ft $/SF Lot Zoning
5100 N Miami Ave $459,000 4,786 $96 T4
ALL INFORMATION IS SUBJECT TO CHANGE AND ERROR, SHOULD NOT BE RELIED UPON FOR INVESTMENT PURPOSES, AND SHOULD BE CONFIRMED BY ANY PROSPECTIVE BUYER.
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Address Sale Price Lot Sq Ft $/SF Lot Zoning Sale Date
1 4848 N MIAMI AVE $519,600 6,160 $84 T4 9/10/19
2 4860 N MIAMI AVE $510,363 6,050 $84 T4 9/10/19
3 11 NW 44 ST $900,000 6,700 $134 T4 8/6/19
4 1 NW 44 ST $1,175,000 6,700 $175 T4 4/15/19
5 4421 N MIAMI AVE $507,300 5,092 $100 T3 4/8/19
6 4444 N MIAMI AVE $1,100,000 9,265 $119 T4 9/17/18
7 4910 N MIAMI AVE $399,300 6,050 $66 T4 11/16/18
8 4750 N MIAMI AVE $535,400 5,232 $102 T4 11/16/18
AVERAGE: $108
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RELEVANT SALES
MARKET ACTIVITYRELEVANT SALES
ADAM FREEMAN | LISTING AGENT CELL: (305) 962-6900 EMAIL: [email protected] WWW.FREEMANPROPERTYGROUP.COM
Various development opportunities exist, including multi-family, office, research facility and more that could perfectly compliment the the newly planned Empathic Care Village less than one block away. Potential assemblage opportunity for larger scale development as well. Call us today for more information!
5100 North Miami Ave represents the chance to acquire a boutique development site in one of the fastest growing areas of Miami’s urban core at an affordable price.
5100 NORTH MIAMI AVE
