For more information contact TONY ARELLANO Executive Vice President 305 571 9991
THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your own limited use to determine whether you wish to express any further interest in the property. This confidential memorandum contains brief, selected information pertaining to the business and affairs of the property and has been prepared by Metro 1 Commercial LLC. ( Metro 1 ), primarily from information supplied by the Owner. Although this confidential memorandum has been reviewed by representatives of the Owner, it does not propose to be all-inclusive, nor does it contain all the information which a prospective investor may require or desire. Neither the Owner, nor any of its officers, directors, employees or agents, nor Metro 1 Commercial, makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents, and no legal liability is assumed or is to be implied by any of the aforementioned with respect thereto. Prospective investors are advised to verify the information independently. The Owner reserves the right to change the price or any information in this Memorandum, or to withdraw the property from the market at anytime, without notice. This confidential memorandum shall not be deemed an indication of the state of affairs of the property or of the Owner, nor shall it constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this memorandum. By your receipt of this confidential memorandum, you agree that the information contained herein is of a confidential nature and you will not disclose this memorandum or any part of the contents to any other person, firm or entity without prior authorization from Metro 1 Commercial. Metro 1 Commercial, LLC. 120 NE 27 ST, BAY 200 Miami, FL 305.571.9991 metro1.com CONFIDENTIALITY AGREEMENT 2
EXECUTIVE SUMMARY PROPERTY ADDRESS: 2201 Biscayne Blvd, Miami, FL 33137 PRICE: $5.8M BUILDING SIZE: 3,474 SF LOT SIZE: 9,500 SF ZONING: T6-36a O GROSS DEVELOPMENT SF: 273,600 (Not including Bonuses) MAX DENSITY ALLOWED: 32 Residential Units FRONTAGE: 45 on 22nd St and 62 on Biscayne Blvd TRAFFIC: 45,000 Vehicles Per Day Prime Biscayne Blvd site for sale. Offering is composed of a 3,500 Sf two story building that can be leased to produce immediate income or can be redeveloped into its highest and best use. Zoning allows commercial, office, hotel and multifamily uses. This represents an opportunity to build a project to up to 273,600 SF or 32 residential units. The site is located in east Edgewater and is close to Paramount on the Bay, the unity on the bay site which will be redeveloped, 22 Skyview apartments, the Young Arts Headquarters, The Omni mall and the Braman showroom. Edgewater has been experiencing a development boom thanks to its unique location within Miami s urban core. More than 3,000 residential units are planned and in construction within Edgewater creating due to the high demand for residential apartments in the area. EXECUTIVE SUMMARY 3
DEMOGRAPHICS & TRAFFIC REPORTS Building Type: General Retail Secondary: Storefront GLA: 19,000 SF Year Built: 2006 City 24 2347 Biscayne Blvd, Miami, FL 33137 Total Available: 9,980 SF % Leased: 55.16% Rent/SF/Yr: $35.00 Radius 1 Mile 3 Mile 5 Mile Population 2019 Projection 30,582 257,826 544,500 2014 Estimate 27,657 234,895 500,913 2010 Census 24,059 210,205 464,341 Growth 2014-2019 10.58% 9.76% 8.70% Growth 2010-2014 14.95% 11.75% 7.88% 2014 Population by Hispanic Origin 13,690 136,318 291,263 2014 Population By Race 27,657 234,895 500,913 White 19,184 69.36% 159,786 68.02% 354,987 70.87% Black 7,120 25.74% 66,705 28.40% 130,176 25.99% Am. Indian & Alaskan 154 0.56% 1,333 0.57% 2,221 0.44% Asian 632 2.29% 3,389 1.44% 6,565 1.31% Hawaiian & Pacific Island 28 0.10% 158 0.07% 290 0.06% Other 538 1.95% 3,524 1.50% 6,674 1.33% Households 2019 Projection 14,283 106,759 221,471 2014 Estimate 12,979 97,435 204,073 2010 Census 11,494 87,730 190,300 Growth 2014-2019 10.05% 9.57% 8.53% Growth 2010-2014 -0.87% 0.46% -2.06% Owner Occupied 3,035 23.38% 24,646 25.29% 69,870 34.24% Renter Occupied 9,944 76.62% 72,788 74.70% 134,202 65.76% 2014 Households by HH Income 12,977 97,433 204,074 Income: <$25,000 3,816 29.41% 42,364 43.48% 84,980 41.64% Income: $25,000 - $50,000 3,437 26.49% 23,384 24.00% 49,929 24.47% Income: $50,000 - $75,000 2,414 18.60% 12,228 12.55% 25,870 12.68% Income: $75,000 - $100,000 1,244 9.59% 6,420 6.59% 13,657 6.69% Income: $100,000 - $125,000 923 7.11% 4,709 4.83% 9,879 4.84% Income: $125,000 - $150,000 331 2.55% 2,164 2.22% 4,673 2.29% Income: $150,000 - $200,000 195 1.50% 2,342 2.40% 5,339 2.62% Income: $200,000+ 617 4.75% 3,822 3.92% 9,747 4.78% 2014 Avg Household Income $62,118 $52,490 $55,771 2014 Med Household Income $42,535 $31,059 $32,387 Building Type: General Retail Secondary: Storefront GLA: 19,000 SF Year Built: 2006 Total Available: 9,980 SF % Leased: 55.16% Rent/SF/Yr: $35.00 City 24 2347 Biscayne Blvd, Miami, FL 33137 Count Avg Daily Volume Miles from Street Cross Street Cross Str Dist Year Volume Type Subject Prop 1 Biscayne Blvd NE 20th Ter 0.03 S 2012 44,184 MPSI.23 2 Biscayne Blvd NE 30th St 0.03 N 2012 44,344 MPSI.36 3 NE 2nd Ave NE 19th St 0.03 N 2012 23,397 MPSI.40 4 N Miami Ave NE 19th St 0.03 S 2012 7,817 MPSI.51 5 NW 1st Ave NW 19th St 0.02 S 2012 5,221 MPSI.62 6 Biscayne Blvd NE 34th St 0.02 S 2012 37,301 MPSI.63 7 NW 1st Pl NW 19th St 0.02 S 2012 1,913 MPSI.71 8 Biscayne Blvd NE 36th St 0.02 S 2012 49,573 MPSI.77 9 Biscayne Blvd NE 14th St 0.01 S 2012 55,740 MPSI.79 10 NE 1st Ave NE 36th St 0.00 2012 21,537 MPSI.79 DEMOGRAPHICS & TRAFFIC 4
BISCAYNE FRONTAGE PROPOSED PLAN 5
NEIGHBORHOOD AERIAL NEIGHBORHOOD AERIAL 6
DEVELOPMENT PROFILES PARAISO BAY Paraiso Bay Miami Condos will build a half-acre park on 31st Street, enlarging the City of Miami s public Baywalk connection of over 212 linear feet along the Biscayne Bay water s edge. The Architect of Paraiso Bay will be Arquitectonica, the estimated completion date is 2017. Paraiso Bay Miami Condos will consist of 2 towers 55 stories and 550 feet high. ARIA ON THE BAY Aria on the Bay marks the next generation of luxury residential high-rise developments for The Melo Group. Designed by Arquitectonica, the building currently under development for a 2016 opening. The property consists of a 50-floor tower, encompassing 647 residential units and 40,000 square feet of ground floor retail and several lower floors of commercial/ office space. BISCAYNE BEACH Biscayne Beach is a 399-unit luxury condominium tower being developed by a joint venture between Eastview Development and GTIS partners in Miami s East Edgewater neighborhood. Upon completion in 2016, the 51 story high-rise, directly on the water, Brings the beach to the city, boasting Miami s first man-made beach club fronting Biscayne Bay. BAY HOUSE Construction will break ground in November 2013. At 27 Plaza you will find all of the amenities you d expect of an architectural masterplece in a contemporary high-rise. A gorgeous sunrise and sunset awaits you every day from you Sky Pool deck overlooking the turquoise waters of Biscayne Bay. A stateof-the-art Gym, Sauna and a Social Room. HYDE HOTEL & RESIDENCE Icon Bay is a luxury pre-construction condo development, which will rise 40 stories and have 300 total units each with private elevator access and panoramic views of Biscayne Bay and the Miami Beach skyline. Icon Bay condos will be located at the eastern end of Northeast 28th Street along the water. Completion of Icon Bay is projected for March 2015. THE CRIMSON Located in the Biscayne Corridor, The Crimson stands 20 stories and encompasses only 90 exclusive residences. With its unique Nordic architecture, it has been consciously engineered and is LEED Silver Certified to offer a life-enhancing environment where style and technology meet. DEVELOPMENT PROFILES 7
8
NEIGHBORHOOD PHOTOS NEIGHBORHOOD PHOTOS 9
Metro 1 Commercial, LLC. 120 NE 27 ST, BAY 200 Miami, FL 305.571.9991 metro1.com