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For Sale Wynwood, Miami's Premier Entertainment

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For Sale Wynwood, Miami's Premier Entertainment Lombardi PROPERTIES Retail Property FOR SALE 169 NW 23rd Street | Miami, FL 33127 WYNWOOD, MIAMI’S PREMIER ENTERTAINMENT NEIGHBORHOOD PRESENTED BY Julian Oquendo | Commercial Associate Lombardi PROPERTIES 305.586.7360 cell | 305.695.1600 office [email protected] 1 Lombardi 169 NW 23rd Street | Miami, FL 33127 PROPERTIES WYNWOOD PROPERTY SUMMARY DESIGN DISTRICT 19595 27 NW 36th St MIDTOWN MIAMI 169 NW 23rd Street NW 29th St SUBJECT PROPERTY 441 WYNWOOD NW 12th Ave Ave 12th 12th NW NW EDGEWATER 95 1 933 NW 2nd Ave 2nd NW NE 2nd Ave 2nd NE NE 20th St Ave Miami N Biscayne Bay OFFERING SUMMARY PROPERTY OVERVIEW NE 15th St Venetian Cswy PERFORMANCE ART 39595 Sale Price $4,950,000 Lombardi Properties is proud to offer for saleDISTRICT a 3,960 SF fullyA1A renovated retail building with patio space on a 5,250 SF lot. The property went through anWatson extensive Park Year Built 1970 renovation in early 2019 and has been fully leased (NNN) to two established Year Renovated 2019 restaurant concepts: La Sandwicherie & Baccano. With both tenants on 8 year base term leases seeing 4% annual increases, this a very rare opportunity to acquire a Building Price Per SF $1,250 stabilized, cash-flowing property in Wynwood. The building is located just steps off Land Price Per SF $942.85 of NW 2nd Avenue and sits next to El Patio, 1-800 Lucky & The Freehold. Just minutes to any part of Miami’s Urban Center: Health District, Design District, Midtown, Zoning T-5 O Beaches, Brickell, Miami River, Port of Miami and Miami International Airport. TENANCY PROPERTY HIGHLIGHTS Located in the heart of Wynwood Stabilized, Absolute NNN deal that requires minimal management Potential to re-develop the land on a longer timeframe Lombardi Properties | 160 NW 26th Street #201 | Miami, FL 33127 2 Lombardi 169 NW 23rd Street | Miami, FL 33127 PROPERTIES WYNWOOD PROPERTY SUMMARY SITE PLAN FLOOR PLAN NW 24th STREET WEST EAST TENANT TENANT EXIT CORRIDOR EXIT CORRIDOR NW 2nd AVENUE 2nd NW NW 2nd AVENUE 2nd NW WEST EAST TENANT TENANT (Not Included) (Not Included) EXIT ONE STORY CORRIDOR BUILDING EXIT 169 NW 23rd St CORRIDOR ELECT ELECT ROOM EAST ROOM EAST TRASH TRASH ROOM ROOM ONLY WEST WEST TRASH TRASH BUS ROOM ROOM Outdoor Patio ELECT ELECT ROOM EAST ROOM EAST TRASH TRASH ROOM ROOM WEST WEST TRASH MAIN BUILDING TRASH MAIN BUILDING NW 23rd STREETROOM LIFE SAFETY PLAN ROOM PROPOSED FLOOR PLAN MAIN BUILDING MAIN BUILDING LEASE SUMMARIES LIFE SAFETY PLAN PROPOSED FLOOR PLAN Base Rent Escalations/Options Rent Lease Lease Rent Annual Exepense Address Tenant Name SF Start Expiration Per SF Base Rent Date Base Rent Per SF Recoveries Suite 101 Cafe Babbo, LLC 1,882 3/27/2019 7/31/2027 $65.00 $122,330.00 8/1/2020 $67.60 NNN 8/1/2021 $70.30 3% Cap on Controllable 8/1/2022 $73.12 Expenses Per Year 8/1/2023 $76.04 8/1/2024 $79.08 8/1/2025 $82.25 8/1/2026 $85.54 8 Year Option 8/1/2027 90% of FMR 4% annual increases Suite 102 Croque Au Sel, LLC 1,845 3/27/2019 6/30/2027 $65.00 $119,925.00 8/1/2020 $67.60 NNN 8/1/2021 $70.30 8/1/2022 $73.12 8/1/2023 $76.04 8/1/2024 $79.08 8/1/2025 $82.25 8/1/2026 $85.54 8 Year Option 8/1/2027 95% of FMR 4% annual increases 3,727 $242,255 Lombardi Properties | 160 NW 26th Street #201 | Miami, FL 33127 3 NW 29 th Street 4 S MIAMI E I T R PE O R P NW 28 th Street Lombardi Park Wynwood NW 27 th Street NW 26 th Street NW 25 th Street Wynwood 25 venuevenue A A nd NW 24 th Street nd NWNW 2 2 Cube NW 23 rd Street NW 22 nd Lane Wynwood Lofts Street NW 22 nd Street 23rd SUBJECT PROPERTY 169 NW169 NW 21 st Street PRESENTED BY SHOP SUPERIOR Julian Oquendo | Commercial Associate NW 20 th Terrace BIKE Lombardi THE PROPERTIES 305.586.7360 cell | 305.695.1600 office 169 NW 23rd Street | Miami, FL 33127 | Miami, Street 169 NW 23rd MAP TENANCY WYNWOOD [email protected] NW 20 th Street.
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