2143 NW First Ave - Loft/Creative Space FOR SALE


Miami, FL 33127- Wynwood
$38,500,000 USD
786-235-8330
2143 NW First Ave, Miami, FL for Sale
$38,500,000 USD
Loft/Creative Space - FOR SALE
1/36
null | Request Cap Rate

2143 NW First Ave
Miami, FL 33127
Wynwood


HIGHLIGHTS

  • 100% Leased to Knotel on a Long-Term NNN Lease with a Guaranty by Newmark
  • Partial Adaptive Reuse and Partial New Construction, Delivered 2024
  • Arquitectonica-Designed with a Hand-Carved Concrete Facade by Artist Vhils
  • $4M+ in Combined Capital Deployed into Build-Out
  • Zero Landlord Operating Expense Exposure

OVERVIEW

DWNTWN Realty Advisors is pleased to exclusively present The Wyncatcher — Phase I (the "Property" or the "Offering"), a 40,591 square foot, single-tenant NNN creative office asset located at 2143 NW 1st Avenue in Miami's Wynwood Arts District. Delivered in 2024 as a partial adaptive reuse of a 1949 industrial building and partial new-construction, the Property was purpose-built and designed by internationally acclaimed architecture firm Arquitectonica, featuring a hand-carved concrete facade by renowned Portuguese artist Alexandre Farto (Vhils), and comprises two stories of premier workspace plus an activated rooftop terrace. The Property is 100% leased to 2143 NW 1st Avenue, LLC — a Knotel operating entity and subsidiary of Newmark & Company Real Estate, Inc. (NASDAQ: NMRK) — under a long-term NNN Operations Agreement with approximately 5.5 years of remaining term and a 3.5-year renewal option. Knotel operates the building as its first U.S. Work Club, a hospitality-driven, members-only concept modeled after its flagship Old Sessions House in London, featuring private offices, open workspaces, a full-service restaurant and bar operated by Cotidiano Group, and an activated rooftop terrace. The lease is structured as a true triple-net Operations Agreement under which the tenant is responsible for 100% of taxes, insurance, maintenance, management, and all property charges, leaving ownership with zero operating expense exposure. The Wyncatcher represents a rare opportunity to acquire a stabilized, institutionally-tenanted creative office asset delivering in-place NOI of $1,936,493 with 3% annual escalations through expiration, in-place rents meaningfully below prevailing Wynwood market levels, and a one-of-a-kind physical asset in one of Miami's most supply-constrained and high-demand submarkets — offering investors durable cash flow, built-in mark-to-market upside, and significant long-term value creation potential.

FOR SALE DETAILS

PRICE

$38,500,000 USD

PRICE/SF

$1,002 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wyncatcher

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

A

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

NRD-1

APN/PARCEL ID

01-3125-048-0200

ASK ABOUT THIS PROPERTY

Tony ArellanoDWNTWN Realty AdvisorsMore Info
786-235-8330

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Tony ArellanoDWNTWN Realty AdvisorsMore Info
786-235-8330

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