The post DWNTWN Realty Advisors Brokers $12.3 Million Wynwood Portfolio Deal: A Miami CRE Success Story first appeared on Miami CRE Brokers.
In a significant move that underscores the vibrant growth of Miami’s Wynwood district, DWNTWN Realty Advisors has successfully brokered a $12.3 million commercial real estate deal. This case study delves into the intricacies of the transaction, highlighting the expertise and market insight that DWNTWN Realty Advisors brought to the table in facilitating this high-profile deal in one of Miami’s most dynamic neighborhoods.
Wynwood NNN Properties Project Overview
- Location:
- 282-292 NW 25th Street, Miami, FL 33127
- 325-339 NW 24th Street, Miami, FL 33127
- Transaction Date: September 16, 2024
- Deal Value: $12.3 million (Note: The original asking price was $14.9 million)
- Property Type: NNN Wynwood Retail Portfolio
- Total Building Size: 19,760 SF
- Total Lot Size: 22,719 SF (0.52 acres)
- Price per SF (Building): $622 (based on the final sale price)
- Price per SF (Land): $541 (based on the final sale price)
- Occupancy: 100%
- Number of Tenants: 2
- Buyer: Zach Vella
- Seller: East End Capital
- Brokerage: DWNTWN Realty Advisors, LLC (representing both parties)
Understanding the Wynwood Commercial Real Estate Miami Investment Opportunity
The sale of this Wynwood commercial real estate portfolio represents a pivotal moment in the neighborhood’s ongoing transformation. The portfolio consists of four buildings with cross-block double frontage on NW 24th Street and NW 25th Street, offering a unique opportunity in Wynwood’s core pedestrian district.
Key aspects of the deal include:
- Value-Add Opportunity: With the DogFish Head brewery’s lease ending in November 2023, there’s potential to lease to another user at market rents or renovate the space.
- Development Potential: The site possesses remaining development TDRs for 23 residential units and full office, or 26 hotel keys, before available bonuses or market transfers.
- Strategic Location: The portfolio is ideally situated next to Wynwood 25 on 25th Street, surrounded by some of the best retail Wynwood has to offer.