THE ASSET. 150 SE 2nd Avenue is the ground-floor retail condominium of the Chase Bank Building of Miami — 9,622 square feet at the signalized corner of SE 2nd Avenue and SE 2nd Street, offered at $9,712,180, or $1,009 per square foot. That basis sits below the $1,250 cleared by Miami-Dade's top-quartile retail storefronts. The condominium structure delivers direct control of a highly visible urban footprint, including building signage rights, without the maintenance obligations of traditional fee-simple ownership.
THE LOCATION. SE 2nd Avenue is the Downtown continuation of Brickell Avenue, carrying more than 30,000 vehicles per day past the property's frontage, with two-way I-95 access one block south. Directly up in the same avenue: Hyatt and Gencom's $1.5 billion Miami Riverbridge Hotel and Convention Center, steps from the JW Marriott Marquis. The Waldorf Astoria, The Mandarin Oriental, The Delano, and the Aston Martin are within blocks.
THE TENANCY. Deposits at this branch grew from approximately $829 million in 2018 to more than $2.3 billion as of June 30, 2025, making it the highest-volume Chase location in the State of Florida. The cost and regulatory complexity of relocating a deposit base of that size make the branch a fixture of Chase's regional infrastructure rather than a discretionary lease.
THE INCOME. The space is 100% occupied by JPMorgan Chase Bank, N.A., rated AA- by Standard & Poor's, under a corporate guaranty running through September 15, 2032, with one five-year option remaining at contractual escalations. In-place net operating income is $378,776, compounding 3% annually through the balance of the term and the option period, 100 basis points above standard CPI targets, and structurally insulated from market cycles.
THE UPSIDE. The asset combines three value drivers that rarely trade together: investment-grade income, a below-market acquisition basis, and exceptional long-term rent reversion. Chase pays $39.90/SF under a legacy lease, less than half of today’s $89.45/SF market rent amid just 2.4% vacancy. It is offered at $1,009/SF versus $1,250/SF market pricing while sitting at the heart of Miami’s boom, with 3,500+ luxury residences and destination dining rising within blocks.
THE BUYER SECURES INVESTMENT-GRADE INCOME TODAY WHILE RETAINING THE LONG-TERM UPSIDE OF FRONTAGE POSITIONED TO REVALUE WITH THE DISTRICT.