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MARCOS PUENTEC. 305 851 1947O. 786 517 [email protected]
KEY FEATURES/HIGHLIGHTS
> Extremely low price point of $1,075,000 or $661 per SF as compared to market rate of $700+ PSF for new grey shell retail condominiums.
> Projected cap rate of 6.35% upon lease up, at list price
> 25 foot ceilings and windows which allows for a mezzanine floor to be built for additional square footage
> Directly across from American Airlines Arena
> Projected market rent growth as World Center, All Aboard, and neighboring developments are completed.
COLLIERS INTERNATIONALSOUTH FLORIDA, LLC801 Brickell Avenue, Suite 850#Miami, FL 33131305 359 3690www.colliers.com/southflorida
900 Biscayne Bay Unit R-101CMiami, FL
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Property SummaryAsking Price $1,075,000
Address 900 Biscayne Blvd Unit R-101C, Miami, FL
NOI $68,292
Cap Rate 6.35%
Total Area 1,626 SF
Price Per SF $661.13
Tenant Vacant
FOR SALE > Prime Retail Location
ProjectedIncome/ExpenseafterVacancyFilled
Source 2018EstimatedBaseRent Unit PSFTBD R101-C 68,140$TotalBaseRent 68,292$ 42.00$
AdditionalIncomeCAM/AssociationReimbursementTBD 11,568$ 7.11$PropertyTaxReimbursementTBD 14,962$ 9.20$SalesTaxReimbursementTBD 8,119$ 4.99$TotalAdditionalIncome 34,649$ 21.31$
EffectiveGrossIncome 102,941$ 63.31$
OperatingExpensesRecoverableExpensesCAM/Association 11,568$ 7.11$PropertyTaxes 14,962$ 9.20$SalesTax 8,119$ 4.99$
TotalRecoverableExpenses 34,649$ 21.31$
NOI 68,292$
Colliers International is please to exclusively offer for sale the retail condominiums at 900 Biscayne Bay - Unit R-101 B (“900 Biscayne”). The property offers any investor the opportunity to purchase a world class retail condominium, located on the ground floor of the 900 Biscayne Bay luxury condominium project on Biscayne Boulevard directly across from the American Airlines arena in the heart of Downtown Miami.
New developments currently under construction within a short walking distance of 900 Biscayne include Paramount at Miami World Center; One Thousand Museum by the late Zaha Hadid, at which units are priced between $5,800,000 and $22,000,000; and All Aboard Florida connecting Broward, Palm Beach, and Orlando directly with Downtown Miami nearby 900 Biscayne.
PURCHASE PRICE: $1,075,000Projected Cap Rate: 6.35%
PROJECTED INCOME/EXPENSE AFTER VACANCY FILLED
SITE PLAN
MARCOS PUENTEC. 305 851 1947O. 786 517 [email protected]
COLLIERS INTERNATIONALSOUTH FLORIDA, LLC801 Brickell Avenue, Suite 850#Miami, FL 33131305 359 3690www.colliers.com/southflorida
