591 NW 29th St - Flex FOR SALE


Miami, FL 33127- Wynwood
$5,500,000 USD
310-710-5080
591 NW 29th St, Miami, FL for Sale
$5,500,000 USD
Flex - FOR SALE
1/11
null | Request Cap Rate

591 NW 29th St
Miami, FL 33127
Wynwood


HIGHLIGHTS

  • Direct Access to I-95, North Miami Ave, NW 2nd Ave, and Biscayne Blvd
  • Prime Retail Corridor, Walkable to All of Wynwood
  • Minutes to Midtown, Downtown, Brickell, and the Design District

OVERVIEW

DWNTWN Realty Advisors is pleased to exclusively present 591 NW 29th Street (the "Property"), a 5,247 SF corner commercial building on a 9,000 SF lot located at the signalized intersection of NW 29th Street and NW 6th Avenue in Miami's Wynwood Arts District. The Property was delivered following a $700,000 capital improvement program including new foundations, electrical, HVAC, sprinklers, and impact windows and doors. Street parking is available. The Property is 65% leased at closing to two personally guaranteed tenants, Endgame Training LLC, a gym operator occupying 1,867 SF under a 5-year lease with 3% annual escalations, and Canopee Tech Inc., a digital menu board showroom occupying 1,566 SF under a 3-year lease stepping to $38.05/SF by Year 3. The remaining approximately 1,814 SF suite, currently owner-occupied, will be delivered vacant at closing and is underwritten to lease at market rents beginning Year 2, giving a new owner a defined, near-term path from partial to full occupancy without relying on speculative rent growth for the in-place tenancy. Zoned T6-8-O with an NRD-2 overlay, the Property carries long-term redevelopment optionality up to 8 stories (12 with bonus density) beyond its current improvements. 591 NW 29th Street represents an opportunity to acquire a partially stabilized, contractually growing income stream with a clear, near-term lease-up mechanism at one of Wynwood's most visible corners.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$911 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

High Visibility Wynwood Corner Building

PROPERTY TYPE

Flex

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1951

UTILITIES

-

CLEAR CEILING HT

15 Ft

DOCKS

-

DRIVE INS

-

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.21

LAND SF

9,000

ZONING

T6-8-O

APN/PARCEL ID

01-3125-024-2010

ASK ABOUT THIS PROPERTY

George BelesisDWNTWN Realty AdvisorsMore Info
310-710-5080

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George BelesisDWNTWN Realty AdvisorsMore Info
310-710-5080

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