NW 57TH AVENUE MIAMI, FL

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Theodore Allen
6 years ago
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1 BLUE LAGOON LOCATION 1250 Partnership. Performance. REDEVELOPMENT OPPORTUNITY Avison Young is pleased to present the opportunity to acquire the physical property located at 1250 NW 57th Avenue in Miami, FL. This 18,560-sf free-standing retail/flex building sits on a 34,767-sf lot. The offering represents a multi-faceted approach for an investor to capitalize on the value of the incomparable land this property is perched upon. The land carries with it a location, zoning, and lot size that allows for continual appreciation. The location of this property, offers the unique combination of unparalled access and exposure to the 836 expressway, providing invaluable marketing and logistics opportunities. The current tenant in place Summit Aerospace maintains a lease expiring in February of 2019, which provides income leading up to any desired redevelopment or repositioning of the already valuable improvements that exist on the property. Myles Stepner, Associate myles.stepner@avisonyoung.com Xavier Cossard, Senior Vice President xavier.cossard@avisonyoung.com Michael T. Fay, Prinicpal, Managing Dir - Miami michael.fay@avisonyoung.com

PROPERTY SUMMARY Address 1250 NW 57th Avenue, Miami, FL 33126 Parcel ID 30-3131-007-0100 Building Area 18,560 sf Lot Size 34,767 sf (may be larger, subject to survey) Year Built 1956

current tenant leading up to any desired redevelopment or repositioning of the property Proximity to the airport makes the development potential of the land attractive for a variety of

2 PROPERTY SUMMARY Address 1250 NW 57th Avenue, Miami, FL Parcel ID Building Area 18,560 sf Lot Size 34,767 sf (may be larger, subject to survey) Year Built 1956 Zoning IU-1 INVESTMENT HIGHLIGHTS Visibility from 836 (Dolphin Expressway) and also significant frontage to 57th Avenue, one of Miami s most trafficked arteries In-place cash flow with current tenant leading up to any desired redevelopment or repositioning of the property Proximity to the airport makes the development potential of the land attractive for a variety of asset classes, hotel, office or other end users Liberal zoning Adjacent to a brand new 150,000-sf Burger King Headquarters and in a market where 100+ multinational companies are stationed

SUBJECT PROPERTY 1250 NW 57th Avenue Miami, FL 33126 836 (DOLPHIN EXPRESSWAY) New Headquarters 57TH AVENUE ADJACENT PROPERTY FOR SALE 1200 NW 57th Avenue Miami, FL 33126 INDIVIDUAL SALE OR ASSEMBLAGE

The ability to acquire both of the assets provides an even larger footprint for redevelopment in a market where much of the land has been purchased, and many of the assets are institutionally owned.

Barriers to entry are extremely high, providing a unique marketing opportunity, as the proximity and exposure to major access roads such as 57th Avenue and the 836 expressway, will provide any buyer

4 SUBJECT PROPERTY 1250 NW 57th Avenue Miami, FL (DOLPHIN EXPRESSWAY) New Headquarters 57TH AVENUE ADJACENT PROPERTY FOR SALE 1200 NW 57th Avenue Miami, FL INDIVIDUAL SALE OR ASSEMBLAGE OPPORTUNITY Avison Young is also marketing for sale the property directly adjacent to the subject property. The ability to acquire both of the assets provides an even larger footprint for redevelopment in a market where much of the land has been purchased, and many of the assets are institutionally owned. It is truly one of the few opportunities left to establish a major hospitality, office, or owner/user facility in the Waterford at Blue Lagoon Office Park. Barriers to entry are extremely high, providing a unique marketing opportunity, as the proximity and exposure to major access roads such as 57th Avenue and the 836 expressway, will provide any buyer substantial long term value. A further compliment to the property s value can be found in the exclusivity of the micro market it falls within. The Waterford at Blue Lagoon office park is home to over 100 multinational companies, among them FedEx, Avaya, Caterpillar, Estee Lauder Companies, and Hasbro. ADJACENT PARCEL SUMMARY Address 1200 NW 57th Avenue, Miami, FL Parcel ID Building Area 16,286 sf Lot Size 52,556 sf Year Built 1954 Zoning IU-1 Combined Building Area 34,846 sf Combined Lot Size 2 ac (87,323 sf )

ZONING OVERVIEW IU-1 which is a versatile zoning within the code of Miami- Dade county Florida. IU-1 allows for virtually all-commercial uses and has extremely small setbacks.

5 ZONING OVERVIEW IU-1 which is a versatile zoning within the code of Miami- Dade county Florida. IU-1 allows for virtually all-commercial uses and has extremely small setbacks. The height requirement is limited by the width of the widest street which building abuts. 57th Avenue is 100 feet and becomes the height limit of any facility that can be developed. The site is at grade, requiring no fill, and has water and sewer available. Proximity to major expressways such as the 836, will make it easier to negotiate a better pricing on concrete and materials, because of lower delivery expense being located right next to the highway. Below is a preliminary massing or design study indicating what potentially could be constructed on the site. CLICK HERE for IU-1 Zoning basic questions CLICK HERE for IU-1 Zoning Code

2 3 1 4 5 6 7 8 11 12 9 10 1 2 16 17 18 13 19 15 14 BLUE LAGOON OVERVIEW The property is situated within Waterford at Blue Lagoon Business Park, Miami s premier suburban office park in the most

6 BLUE LAGOON OVERVIEW The property is situated within Waterford at Blue Lagoon Business Park, Miami s premier suburban office park in the most desirable area of the Airport West submarket. The office park is home to more than 100 multinational companies, including the regional or South American headquarters of numerous Fortune 500 businesses NW 57th Avenue offers great visibility and an excellent location immediately south of and adjacent to Miami International Airport with frontage along the Dolphin Expressway (SR 836) and NW 57th Avenue. The property is accessible to all areas in Miami-Dade, Broward, and Palm Beach Counties. The Blue Lagoon Business Park offers the distinction and convenience you expect from a Class-A corporate park. Amenities in the park include numerous hotels, including the Hilton Hotel, Hotel Sofitel, Hyatt Summerfield Suites, and Homewood Suites by Hilton. Restaurants and delis are located in several buildings throughout the park offering breakfast, lunch, and catering options. In addition, there are numerous fast food and sit-down restaurants adjacent to the park. There is also a day care center, a US Post Office, and 24 hour security. The Waterford at Blue Lagoon market is currently seeing a boom in development. In recent days major projects have been announced. Leading the way is the new Burger King Headquarters, a five story 150,000-sf facility being developed as a build to suit. Accompanying that announcement, a 10 story 250,000-sf speculative office building at 800 Waterford Ave. This will be the first speculative office building in 7 years to be developed in this market. The future is bright. 1. Subject Property NW 57th Avenue 2. Adjacent Parcel NW 57th Avenue OFFICE BUILDINGS Blue Lagoon Drive 178,287 sf Blue Lagoon Drive 163,445 sf Blue Lagoon Drive 91,285 sf Blue Lagoon Drive 83,443 sf Blue Lagoon Drive 83,224 sf Blue Lagoon Drive 78,374 sf Blue Lagoon Drive 57,565 sf Blue Lagoon Drive 58,889 sf Blue Lagoon Drive 59,005 sf Blue Lagoon Drive 59,654 sf Blue Lagoon Drive 165,963 sf Blue Lagoon Drive 31,052 sf NW 57th Court 247,676 sf Waterford Way 247,000 sf Waterford Way 259,228 sf Blue Lagoon Drive 212,619 sf Blue Lagoon Drive 204,887 sf Blue Lagoon Drive 210,784 sf Blue Lagoon Drive 250,920 sf Myles Stepner, Associate myles.stepner@avisonyoung.com Xavier Cossard, Sr Vice President xavier.cossard@avisonyoung.com Michael T. Fay, Prinicpal, Managing Dir - Miami michael.fay@avisonyoung.com

Goodman Industrial Center Doral 2100 NW 88th Court, Doral, FL Marks. The Spot

Goodman Industrial Center Doral 2100 NW 88th Court, Doral, FL 33172 Marks The Spot Lease 77,818 s.f. Goodman Industrial Center Doral is located minutes away from Miami International Airport. Offering 77,818