Gateway to Miami Beach, two-building site
at 1100 Fifth Street, Miami Beach, FL
MIAMI BEACH, FL – Marcus & Millichap Real Estate
Investment Services, the nation’s largest real estate investment services firm,
has been awarded the exclusive listing for the Gateway to Miami Beach, a
two-building, 18,136-square foot net-leased site in Miami Beach’s exclusive
South of Fifth neighborhood.
 |
| Scott Sandelin |
The listing price of $22 million equates to $1,213 per
square foot.
Scott
Sandelin, a senior associate in Marcus & Millichap’s Miami office, is
representing the seller, a private party who developed the site.
“Investor
capital is flowing into Miami Beach in search of stable retail assets with
quality tenants,” says Sandelin. “The irreplaceable, one-of-a-kind Gateway to
Miami Beach site features two buildings with national tenants, Pier 1 Imports
and Burger King.
“The Miami Beach market continues to mature, and this highly
sought after site has liberal zoning that will allow for many different options
in the future,” adds Sandelin. “Creative redevelopment will provide a
significant increase in NOI and the property’s overall value.”
 |
| South Pointe Park, Miami Beach, FL |
The Gateway to Miami Beach is located at 1100 5th St.
in Miami Beach. Traffic counts along 5th Street total 92,000 cars per day.
National
retailers Best Buy, Petco and Staples are located in the immediate vicinity and
a Publix Super Market is situated nearby.
The South
of Fifth neighborhood has become the most expensive section of Miami Beach. The
area features some of the city’s most exclusive restaurants and 18-acre South
Pointe Park.
For a complete copy of the company’s news release, please
contact:
Ben Johnson
Marketing Director
(925) 953-1736
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