Colliers International Urban Core Division is pleased to present the exclusive opportunity to acquire +/-18,000 SF of prime retail condominiums located at Cite’, a 434-unit residential building situated on the highly trafficked corridor of Biscayne Boulevard and in Edgewater, one of Miami’s hottest and fastest growing neighborhoods.
The property is fully occupied, offering a consistent annual return with an estimated 7% NOI by year 2020 and an estimated 80% increase over the next ten years.
Cite’ is surrounded by over 13,000 existing apartments and new condo developments. This highly trafficked area and influx of residents from new developments ultimately drives the demand for retail.
This property is located North of Downtown and the Arts & Entertainment District and just minutes away from Wynwood, Midtown and the Design District. This property is truly in the heart of it all!
Prime retail
Stable revenue stream - 100% Occupied
87 dedicated parking spots
Great 1031 exchange opportunity
Internet resilience tenants (bank, dry cleaners, restaurants) Excellent Year 2 cap rate of 7%
