1622 NE 2nd Ave, Miami, FL 33132

Colliers International, as exclusive marketing advisor, is pleased to present the opportunity to acquire the prestigious Pomeroy Building located at 1622 NE 2nd Avenue in Miami’s Edgewater submarket. The Pomeroy building is a 22,638 SF building, which was recently completely renovated into street-front retail and flex office space on the second floor. The building sites on a 12,600 SF lot.

Current ownership finished a full renovation of the building and it is currently 100 percent leased to three tenants, providing the opportunity to acquire a cash-flowing building. The Pomeroy Building is located in the emerging Edgewater neighborhood, which is currently seeing a flood of residential development within a 2-mile radius of the building. The area surrounding these new developments is significantly under served by “necessary retail,” making the Pomeroy Building a high-demand and unique offering in the market.

The underlying land of the property is zoned T6-24A-O and it is in the OMNI density overlay, which provides future development potential. Under this zoning, the site can be redeveloped into 144 residential units, 114,660 SF gross building and 48 stories with all available bonuses.

In addition, within walking-distance, the Wynwood neighborhood of Miami has exploded overnight with new retail and residential projects being announced every month. At a central point in the path of Miami’s urban growth, The Pomeroy Building represents an excellent opportunity for a developer to capitalize on the growing neighborhoods of Wynwood, Midtown, Omni, and Edgewater.

The property is located minutes to Wynwood, the Design District, Downtown Miami and Edgewater.
The Pomeroy Building is located in an Opportunity Zone.
The building has recently undergone a complete renovation.
It is located on North Miami Avenue.
The property is ideal for a redevelopment opportunity.