745 Collins Avenue
Retail | 13,444 SqFt
Marketing description
745 Collins Avenue presents a rare opportunity to acquire a fully vacant Art Deco commercial building in the heart of South Beach's premier retail and hospitality corridor. Formerly occupied by Victoria's Secret, the Property spans approximately 13,444 SF across three levels and is ideally positioned steps from Ocean Drive, the beach, and Miami Beach's most prominent hotels, restaurants, retailers, and entertainment venues.
Delivered vacant in gray shell condition, the Property offers exceptional flexibility for an investor, owner-user, or operator to reposition the asset for a variety of uses, including flagship retail, boutique hospitality, food & beverage, wellness, entertainment, office, or mixed-use concepts.
The building underwent a substantial renovation in 2008 and includes significant infrastructure already in place, including elevator service, sprinkler and fire suppression systems, upgraded electrical capacity, and modernized building systems. The completed 40-Year recertification along with all these improvements provide a meaningful reduction in redevelopment costs and delivery timelines. In addition, the upper exterior levels offer the potential to create terraces, rooftop activations, hospitality amenities, wellness concepts, or other experiential spaces, a highly desirable and increasingly rare feature within the South Beach historic district.
The combination of scale, location, infrastructure, and architectural character positions 745 Collins Avenue as a highly differentiated opportunity for owner-user and investors alike.
Investment highlights
- IRREPLACEABLE COLLINS AVENUE POSITIONING - Located along one of the most iconic and heavily trafficked retail corridors in the United States, the Property offers exceptional visibility, branding potential, and long-term intrinsic value within the heart of Miami Beach.
- SIGNIFICANT CAPITAL IMPROVEMENTS COMPLETED - The Property has completed its 40-year recertification and benefits from upgraded electrical systems, power capacity, and infrastructure, substantially reducing future near-term capital expenditure requirements.
- FLEXIBLE REPOSITIONING & ACTIVATION POTENTIAL - The asset presents a rare opportunity to introduce rooftop activation, terraces, wellness concepts, hospitality amenities, or experiential outdoor dining and lounge components, creating multiple avenues for value enhancement and revenue growth.
- ICONIC ART DECO ARCHITECTURE - Featuring classic Art Deco design and irreplaceable architectural character, the Property offers investors the ability to blend historic Miami Beach identity with modern repositioning and experiential retail or hospitality concepts.
- STRONG EXPERIENTIAL RETAIL & HOSPITALITY APPEAL - The surrounding Lincoln Road renaissance and continued influx of tourism, luxury residential development, and hospitality demand position the Property to attract experiential retail, food & beverage, entertainment, and boutique hospitality users.
- PREVIOUSLY PURCHASED FOR $24 MILLION - The property was previously purchased for $24 million. With meaningful infrastructure improvements already completed, the offering presents an opportunity to acquire a premier Miami Beach asset at a basis below estimated replacement cost relative to location and existing improvements.
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