Partnership. Performance.
ONE OF A KIND REDEVELOPMENT OPPORTUNITY ON BRICKELL AVENUE Avison Young is pleased to exclusively offer for sale 1401 Brickell Avenue, a 188,138 SF office building situated on 2.02 acres of land (also stated elsewhere as 87,958 sf) in Miami’s most prestigious financial district. This class B building in a class A infill development location provides strong in place cash flow for a developer, with great density according to Miami 21 zoning. 1401 Brickell is located on the east side of the street between two of the best-known buildings of the corridor, Four Seasons and Brickell Arch (aka, Espirito Santo Plaza), which positions it well within this Live, Work and Play neighborhood. This area continues to grow and has become the dense, high-rise core of Miami’s banking, investment, and financial sectors, and is filled with luxury condominium and apartment towers, upscale restaurants and entertainment venues. 1401 Brickell has excellent ingress and egress from the north, south and west and is within easy access to I-95, US 1, downtown Miami, and all public transportation. The current zoning at the property is T6-48A-O which allows for much more than the current 188,138 SF of office use, with over 1,000 residential units, up to 80 stories and a total of 1.45 million square feet of development possible. T6-48A-O zoning gives a developer the opportunity to utilize residential, office, hotel and retail uses to a create the project they envision. The property is being marketed with no asking price. A call for offers date has been set for Wednesday, November 1st, 2017 by 5 PM EST.
John K. Crotty, CCIM, Principal, Capital Markets David Duckworth, Principal, Capital Markets Michael T. Fay Principal, Managing Director - Miami 305.4 47.7865 954.938.1806 305.4 47.7842 [email protected] [email protected] [email protected] 1401 Brickell Ave. | Miami
INVESTMENT HIGHLIGHTS
Site offers developers the rare opportunity to acquire a cash flowing property with fantastic development potential.
Strong cash flow included with short term leaseback of Santander Bank as part of sale.
PROPERTY STATS Currently zoned T6-48A-O under Miami 21 zoning, this zoning category allows development of residential, Address 1401 Brickell Avenue office, retail, hotel, or mixed-use projects. Submarket Brickell Parcel ID 01-0210-050-7010 The current zoning allows development of over 1,000 Current Occupancy 84.39% units and up to 80 stories and 1.4M SF. Current In-Place NOI $4,060,164 Current Building SF 188,138 In the heart of Brickell, one of Miami’s fastest-growing Total Lot Size (ac) 2.02 neighborhoods. SURROUNDING NEIGHBORHOODS Total Lot Size (sf) 87,958 Easy access to public transportation and Metro Mover. Zoning T6-48A-O Development Potential 1.45M SF MIAMI BEACH Potential Uses Residential, Retail, Office, Hotel Density 500 units/acre
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4 14011401 Brickell Brickell Ave. Ave. | |Miami Miami
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4 OVERVIEW MARKET 2 Under Construction 5 1. Panorama Tower 8 2. Miami River Walk 1 3. Hotel Indigo 5 4. Echo Brickell 5. SLS Lux 6. Brickell Flatiron 4 7. Maizon at Brickell 8. Solitair Brickell 3 6 2 7 Proposed 1 1. One Brickell 3 7 2. Brickell World Plaza Phase II 3. 1201 Brickell Towers 4. 888 Brickell 3 5. Project 18 6. CCCC Miami Towers 7. Yacht Club at Brickell Tower II
SW 15TH RD Delivered 2017 BRICKELL AVE 6 1. Brickell Heights 2. Broadstone at Brickell 3. Brickell Ten 4. Brickell City Centre SITE LOCATION 4
AREA OVERVIEW POPULATION 1 MILE 3 MILE 5 MILE Est. Population (2017) 50,900 196,864 451,159 18 AREA OVERVIEWKnown as the “Magic City,” the City of Miami is located inPOPULATION 1 MILE 3 MILE 5 MILEN Southeast Florida, in Miami-Dade County on the Miami River, Proj. Yearly Growth (2017-2022) 1.1% 1.1% 1.2% Known as the “Magic City,” the City of Miami is located in Est. Population (2017) 50,900 196,864 451,159 between the Florida Everglades and the Atlantic Ocean. Miami Est. Households (2017) 27,753 87,364 191,523 Southeast Florida, in Miami-Dade County on the Miami River, Proj. Yearly Growth (2017-2022) 1.1% 1.1% 1.2% is one of the state’s – and the world’s – most popular vacation Proj. Yearly Growth (2017-2022) 0.9% 1.0% 1.1% between the Florida Everglades and the Atlantic Ocean. Miami Est. Households (2017) 27,753 87,364 191,523 spots with over 15 beaches among the most infamous include HOUSEHOLD INCOME Proj. Yearly Growth (2017-2022) 0.9% 1.0% 1.1% is one of theSouth state’s Beach, – and Bal theHalbour world’s Beach – most and Sunnypopular Isles. vacation Nearby cities Est. Average Household Income (2017) $98,734 $72,174 $73,285 HOUSEHOLD INCOME spots with includeover 15 Ft. beaches Lauderdale among and Miamithe most Beach. infamous include Est. Total Employees (2017) 45,435 157,132 318,599 South Beach, Bal Halbour Beach and Sunny Isles. Nearby cities Est. Average Household Income (2017) $98,734 $72,174 $73,285 include Ft. Lauderdale and Miami Beach. Est. Total Employees (2017) 45,435 157,132 318,599
John K. Crotty, CCIM David Duckworth Michael T. Fay Principal, Capital Markets Principal, Capital Markets Principal, Managing Director - Miami John K.305.4 Crotty, 47.7865 CCIM David954.938.1806 Duckworth Michael305.4 47.7842 T. Fay [email protected] [email protected] [email protected] Principal, Capital Markets Principal, Capital Markets Principal, Managing Director - Miami 305.447.7865 954.938.1806 305.447.7842 [email protected] [email protected] [email protected]