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2525 SW 27TH AVENUE 9,900 SF / 13,015 SF GLA Office Building Owner/User Or Investment Opportunity

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2525 SW 27TH AVENUE 9,900 SF / 13,015 SF GLA Office Building Owner/User Or Investment Opportunity 2525 SW 27TH AVENUE 9,900 SF / 13,015 SF GLA Office Building Owner/User or Investment Opportunity MIAMI, FLORIDA FOR SALE: Owner/User Opportunity or Income Investment TABLE OF CONTENTS EXECUTIVE SUMMARY 3 PROPERTY DESCRIPTION 9 MARKET OVERVIEW 16 FINANCIAL OVERVIEW 24 FOR MORE INFORmatiON, COntact: PRIMARY COntact: ADDITIONAL COntact: JOHN F. BELL MARIANO PEREZ Managing Director Senior Associate 100 SE 2ND STREET, SUITE 3100 [email protected] [email protected] MIAMI, FLORIDA 33131 Direct: 305.808.7820 Direct: 305.808.7314 305.808.7310 Cell: 305.798.7438 Cell: 305.542.2700 www.transwestern.com/miami The material contained in this Offering Memorandum is confidential, furnished solely for the purpose of considering the acquisition of the property described herein (the “Property”) and is not to be used for any other purpose or made available to any other person without the express written consent of the owner (the “Owner”) or Transwestern. This Offering Memorandum contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information which prospective purchasers may desire. The material in this Offering Memorandum has been compiled by Transwestern from sources considered reliable and has not been independently verified by Transwestern. Summaries contained herein of any legal documents are not intended to be comprehensive statements of the terms of such documents but rather only outlines of some of the principal provisions contained therein. Qualified prospective purchasers should conduct appropriate due diligence and review all legal documents, which are available from Transwestern, and make their own conclusions. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. Neither the Owner nor Transwestern, nor any of their respective officers, agents or employees, have made any representation or warranty, expressed or implied, as to the accuracy or completeness of this Offering Memorandum, or any additional verbal or written information provided. This Offering Memorandum is subject to prior placement, errors, omissions, changes, or withdrawal without notice and does not constitute a recommendation, endorsement, or advice as to the value of the Property. Each prospective purchaser is to rely solely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein. No liability is assumed by and none shall be asserted against the Owner or Transwestern on account of any statements, descriptions or information, or projections or estimates, contained herein or omitted here from. The Owner reserves the right, at its sole discretion, to reject any or all offers to acquire the Property and/or to terminate discussions with any prospective purchaser, at any time, with or without notice or cause. The Owner expressly reserves the right to sell the Property on any basis or using any criteria. In addition, the Owner expressly reserves the right, at its sole discretion, to withdraw, supplement, change, amend, bifurcate, or reduce the Offering Memorandum and/or the Property. NO waRRANTY OR REPResentatiON, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORmatiON COntaineD HEREIN, AND SAME IS SUBMITTED subJect TO OMISSIONS, CHANGE OF PRICE, RentaL OR OTHER CONDITION, WITHOUT NOTICE, AND TO ANY LISTING CONDITIONS, IMPOSED BY THE OWNER. 2525 SW 27TH AVENUE MIAMI, FLORIDA EXECUTIVE SUMMARY 2525 SW 27TH AVENUE | MIAMI FLORIDA Gateway to Coconut Grove, Minutes to Coral Gables and Downtown FRONT EXTERIOR t Transwestern presents the opportunity to purchase the Alban Muller International Building (the “Property”), a 3-story professional office building ideally configured for either: • Owner/User. • Cash Flow Investment. • Partial User / Partially Leased. The Property strategically offers convenient access to Miami’s major employment centers and prestigious residential neighborhoods. Property Summary Asking Price: $2,300,000 or $232/SF Address: 2525 SW 27th Ave City, State: Miami, FL Year Built: 1965 Property Type: 3 level office building Building Size: 9,900 SF NRA / 13,015 SF Gross Land Area: 8,378 SF Current 50% - Tenant first floor / Tenant half of 2nd floor Occupancy: Occupancy: 50% In Place NOI: $3,958 AERIAL VIEW t Parking: 22 spaces, including 8 gated garage spaces TH Tenancy: The Property is currently 50% leased to two 2525 SW 27 Ave tenants. The 50% occupancy excludes the entire third floor currently occupied by the Owner that will vacate their space upon sale. Bus Stop Post sale: SW 27TH Ave • Owner/Seller will vacate after sale. • Owner/Seller will stay in top floor space for 4 months at $20/SF full service rent. 3 2525 SW 27TH AVENUE MIAMI, FLORIDA EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS vaCANT SUITE 100 t IDEAL FOR AN OWNER/USER Current ownership occupies the entire third floor, which consists of 3,300 SF with a high quality marble floor lobby. Owner will vacate the 3rd floor after sale. TENANCY FLEXIBILITY Owner/User can potentially occupy a portion of building, and earn revenue from remaining space. Common areas on each floor designed to allow effective multi-tenant use. • Floors 1 & 2 designed to accommodate two tenants or single user per floor. Floor two is half leased. • One of the floor 1 suites allows direct secured access. Floor one is fully leased to a single tenant RESERVED SECURED AND COVERED paRKING The gated, covered garage parking of 8 spaces is a competi- tive advantage. There are a total of 22 parking spaces on site. Rent Roll Suite Size (SF) Tenant Annual Rent Expiration 100/101 3,300 Vacant $56,100 Mar. 2017 $17.00/SF vaCANT SUITE 100 t 200 1,650 Absolute $28,814 Sept. 2017 Video $17.4 6/SF 201 1,650 Vacant - N/A 300 3,300 Owner will - N/A vacate Total 9,900 $84,914 vaCANT SUITE 200 t 4 2525 SW 27TH AVENUE MIAMI, FLORIDA EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS METRORAIL SYSTEMt METRORAIL SERVICE Palmetto Northside Hialeah The Property is conveniently located within walking Tri-Rail distance to the Coconut Grove Station, located near Okeechobee Dr. Martin Luther King Jr. the intersection of Southwest 27th Avenue and US Brownsville Highway 1 to the south, offering tenants and visitors Earlington Heights Allapattah convenient access to and from the building. Santa Clara Miami Civic Center International BUS SERVICE Airport Historic Overtown/ Culmer Lyric Theatre A bus station is located immediately south of the 9 Government Center Property that runs Route 27--which stretches from AVE 2525 SW 27TH AVE TH Brickell Coconut Grove to the south up to Sun Life Stadium to SW 27 SW the north. Vizcaya Coconut Grove • Convenient for commuting employees. Douglas Road • Steps from the Property’s entrance. University N Orange Line (Dadeland South to MIA) Green Line (Palmetto to Dadeland South) South Miami Station Station with Parking Facilities INTERIOR ATRIUM StaiRWELL Dadeland North Station with Overnight/Long-Term Parking The Property features a dramatic three level interior Dadeland South stairwell atrium at the front center of the common areas extending from the first to third floor of the building. INTERIOR staiRWELL atRIUM t INTERIOR staiRWELL atRIUM t 5 2525 SW 27TH AVENUE MIAMI, FLORIDA EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS 3RD FLOOR OWNER/USER TENANT SpaCE • Smith & Gonzalez LLC (Seller). Will vacate post sale. • Full floor tenant. • Includes Arched Hallway. • 3,300 SF • Windows on north and west sides of building. • Space is in good condition and ideally configured for a full floor user. • Seller will vacate this suite after sale. • Seller would like to stay for 4 months at a rent of $20/SF, full service, and then vacate. This is so they can prepare to move. 3RD FLOOR OWNER/USER SUITE t 3RD FLOOR OWNER/USER SUITE t s 6 2525 SW 27TH AVENUE MIAMI, FLORIDA EXECUTIVE SUMMARY LOCation - Centrally located between Coral Gables, Downtown & Coconut Grove DIRECT EXPOSURE ON SW 27TH AVENUE - PRIME SIGNAGE • Attracts tenants, and offers users signage/advertising opportunity. NEARBY AMENITIES ARE EXTENSIVE • Numerous nearby restaurants and retail amenities along SW 27th Avenue, Coral Way and US Highway #1. EASE OF ACCESS TO BUSINESS CENTERS • Convenient proximity to Coconut Grove, Coral Gables, Brickell and Downtown. • Central to prime residential neighborhoods. MIAMI BEACH MIAMI INTERNATIONAL AIRPORT 836 MIAMI 95 9 DOLPHIN EXPY 953 DOWNTOWN 968 TH IN SW 8 ST M 5 41 BRICKELL AVE CORAL 2 TH MIN 826 GABLES SW 27 SW CORAL WAY 972 AVE 1 TH 1MIN Inventory - Coral Way SW 37 SW LE JEUNE RD JEUNE LE YTD 2014 2013 2012 2011 2010 2009 976 COCONUTClass A 84,248 84,248 84,248 84,248 84,248 0 Class B 1,087,752 1,087,752 1,087,752 TH1,085,292 1,085,292 1,085,292 GROVEClass C 1,255,43125251,257,359 SW1,257,359 27 1,264,251 AVE1,264,251 1,264,251 Inventory - Coral Way S DIXIE HWY Total 2,427,431 2,429,359 2,429,359 2,433,791 2,433,791 2,349,543 YTD 2014 2013 2012 2011 2010 Source:2 0CoStar09 Class A 84,248 84,248 84,248 84,248 84,248 0 Class B 1,087,752 1,087,752Absorption1,087,752 - Coral Way1,085,292 1,085,292 1,085,292 Class C Y1,255,431TD 2014 1,257,3592013 1,257,3592012 1,264,2512011 1,264,2512010 1,264,2512009 ClassTota lA 2,4207,431 2,4209,359 2,4209,359 2,4303,791 2,84,248433,791 2,3409,543 STRONG - LOW VACANCY SUBMARKET Class B 29,320 (2,503) 4,950 7,733 71,728 Source:(58,399) CoStar Class C 6,969 24,206 13,506 (13,790) (3,612) (47,696) Inventory - Coral Way Total 36,289 21,Absorption703 18 -, 4Coral56 Way(6,057)
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