150 SE 2nd Ave - Office CONDO FOR SALE


Miami, FL 33131- City Center Miami
$9,712,180 USD
786-574-3384
150 SE 2nd Ave, Miami, FL for Sale
$9,712,180 USD
Office CONDO - FOR SALE
1/12
null | 3.9% Cap Rate

150 SE 2nd Ave
Miami, FL 33131
City Center Miami


HIGHLIGHTS

  • FOUNDATION. Florida's #1 JPMorgan Chase branch by deposits; $2.3 billion as of June 2025, on the hottest corner in Miami's Downtown/Brickell corridor.
  • UNIQUE FINANCIAL OPPORTUNITY. JPMorgan Chase-backed income, coupling a below-market $/SF basis with exceptional market-validated value upside.
  • FINANCIALS. $378,776 NOI contractually compounding 3% annually through six remaining lease years plus Chase's five-year option.
  • LOCATION. At Miami's growth epicenter steps from Hyatt's $1.5B Convention Center, Mandarin Oriental, Aston Martin, Baccarat & Waldorf Astoria.
  • VISIBILITY. Prominent corner frontage and building signage rights at an intersection with over 30,000 VPD, one block from the I-95 connectors.
  • CONNECTIVITY. SE 2nd Ave is Brickell Ave's Downtown continuation. All Brickell traffic bound for I-95 must pass directly in front of the property.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$9,712,180 USD

PRICE/SF

$1,009 USD /SF

CAP RATE

3.9%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Florida's #1 JPMorgan Chase Branch

PROPERTY TYPE

Office

ADD'L SUBTYPES

Bank, Storefront

TOTAL BUILDING SIZE

140,000 SF

STORIES

14

BUILDING CLASS

A

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,081 SF

ZONING

T6-80-O

APN/PARCEL ID

01-4138-159-0001

ASK ABOUT THIS PROPERTY

Rodrigo GomezAG Commercial Real Estate AdvisorsMore Info
786-574-3384

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Rodrigo GomezAG Commercial Real Estate AdvisorsMore Info
786-574-3384

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.