Net-Leased South of Fifth Street Site in Trendy Miami Beach Neighborhood Available for $22 Million

                              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