$13,500,000 USD
786-522-7000
969 Normandy Dr
Miami Beach, FL 33141
Normandy Isles
HIGHLIGHTS
- Normandy Isle Grocery Anchored Retail Property on Two Large, Developable Lots Zoned CD-2 and RM-1, Totaling 39,750 SF of Land
- Offering Allows for up to Five Stories of Multifamily / Mixed-Use Development, or the Ability to Raise Rents on Existing Leases, which are Short-Term
- Includes 14,475 SF Retail Building with In-Place NOI of $450,000 – 100% Occupied by Sabor Tropical Supermarket and Advance Auto - Both Expire in 2028
- Corner Location in Miami Beach on High Traffic Normandy Drive Just Across the Street From the Famous Normandy Fountain Plaza
- North of Miami Beach has Seen a Development Boom with Multiple Retail, Hotel and Multi-Family Developments Currently in Planning or Under Construction
- Subject Property Includes an 18,750 SF Surface Lot that is Adjacent to the Retail Parcel, Allowing for Additional Development and/or Parking Capacity
FOR SALE DETAILS
PRICE
$13,500,000 USD
PRICE/SF
$980 USD /SF
CAP RATE
6.51%
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Normandy Isle Retail/Development Site
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1987
SPRINKLERS
-
PARKING SPACES
15
LAND DETAILS
LAND ACRES
0.91 AC
LAND SF
39,750 SF
ZONING
CD-2
APN/PARCEL ID
02-3210-013-0410
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786-522-7000
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786-522-7000
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