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23487616
23416440

4 Locations

CC
FL SL3069720, FL SL3069720x
Blanca Commercial Real Estate, Inc.
Listed by Blanca Commercial Real Estate, Inc.
Unpriced
386 days on market
Updated 2 days ago
Opportunity zone

Midtown Crossing

Details
APN 01-3230-006-0160; 01-3230-006-0120; 01-3230-006-0110; 01-3230-003-0420
Property Type Retail, Office (+1)
Sub Type Storefront, Commercial (+1)
Square Footage 53,192
Net Rentable (SqFt) 47,379
NOI $2,158,479
Class A
Year Built 1967
Year Renovated 2018
Buildings 1
Stories 3
Lot Size (SqFt) 53,220
Zoning T6-36A-O
Investment Type Institutional

Trophy Asset with Immediate and Long-Term Development Potential

Marketing description

Blanca Commercial Real Estate, Inc. is pleased to be appointed as the exclusive agent for the sale of Midtown Crossing, a +/- 47,379 SF mixed-use trophy asset with immediate and long-term development potential on a +/- 1.22-acre site in the heart of Miami’s Midtown district.

This exemplary opportunity features premier tenants such as Anatomy, Miami Ad School, Two Roads Development, and Knotel. As leases expire, buyers can align rental rates with market levels and drive significant NOI growth in the near term. The property requires little to no deferred maintenance as the asset benefited from recent capital improvements, including a new roof installed in 2023 and a full HVAC replacement completed during a 2018 comprehensive building upgrade.

Midtown Crossing’s development options include: moving forward with substantially approved plans for a +/- 73,000 SF boutique office and retail project on the north parcel (222 Midtown); repositioning the three south parcels – including the existing structure – for long-term redevelopment into a +/- 434,000 SF state-of-the-art office tower (225 Midtown); or leveraging the Live Local Act to develop a high-density multifamily project on the site, which could permit up to 60 stories and 1,000 units per acre. Lastly, the site’s position within a federally designated Opportunity Zone offers qualified investors the ability to eliminate capital gains taxes after a 10-year hold.

Large-scale development sites are scarce in Miami, where demand continues to rise. Midtown Crossing combines stable in-place income, liberal zoning, and prepared development plans. This rare offering provides an opportunity to secure a lasting presence in one of Miami’s most competitive and globally recognized urban markets.

Investment highlights

  • Cash-Flowing Covered Land Play on an Expansive +/- 1.22-Acre Site
  • Trophy, Mixed-Use Asset Generating Significant Income
  • Institutional-Grade Tenant Roster Including Two Roads Development, Anatomy, Miami Ad School, and Knotel
  • Recent Capital Improvements Include a New Roof Installation and Full HVAC Replacement
  • Large-Scale Redevelopment Opportunity in Midtown Miami, One of the Country’s Most Sought-After Urban Districts
  • Plans in Hand for New Office and Retail Development at 222 Midtown and 225 Midtown
  • Live Local Act Allows for High-Density Multifamily Development
  • Situated in an Opportunity Zone Offering Compelling Tax Advantages
  • Liberal T6-36A-O Zoning Permits Mixed-Use Development
  • Prime Midtown Location, Walkable to Design District, Wynwood, and Biscayne Bay

Listing Contacts

CC
FL SL3069720, FL SL3069720x
Blanca Commercial Real Estate, Inc.
Listed by Blanca Commercial Real Estate, Inc.

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$2,158,479.30
$179,873.28/mo

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