Multi-Use Professional Building

Listing was updated at: 06/25/2019
Property Overview
Price/Rent PSF $ 2,400,000.00
Asset Type Office
Trade Type Sale & Lease
SQ. FT. Available 7,200
Date Available 06/25/2019
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Floors 2
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Description

Location
This property is located within the developing "Gables Plaza" District with its one million sq.ft. of multi-million dollar mixed-use Office,Retail,Hotel,Residences and Ponce Circle Art Park.It is within the Coral Gables "CBD" ,a few blocks to the recently completed "Miracle Mile Retail and "Giralda Restaurant Plaza Streetscape" beautification projects. Step to neighborhood cafes , personal services , retail or board the Coral Gables Free Trolley at the corner of Almeria Ave. and Ponce de Leon Blvd., connecting the city's commercial districts , residential neighborhoods and the Miami Trolley System to public transportation.
Coral Gables , the "City Beautiful" is South Florida's centrally located premiere business and residential community. A development renaissance is taking place with numerous new developments under construction , permitting and planning.

Sale
121-123 Almeria Ave. is a two story +/- 7,200 SF building in “grey shell condition”. The purchaser will develop to the space to its use specifications. The ground floor space of +/-4,700 SF with 14’ high ceilings can make an array of co-worker spaces, showrooms, galleries , studios, creative space , retail. The 2nd floor space of +/- 2,500 SF with 14' ceilings has a 1000 SF outdoor terrace. Two buildings next to the property recently traded. 101 Almeria Ave. a 4,800 SF a one story building for $572/SF and 113 Almeria Ave. an 8200 SF two-story building for $488/SF. Estimated costs to fully improve 121-123 Almeria Ave. depending on the intended use ranges from $75-$100/SF . The list price of $330/SF plus $100/SF of construction is $430 and below current market prices. See Comparable Sale and For Sale Report.

Lease
The two story total building space is +- 7,200 sq ft. plus a 1000 Sq.ft. outdoor terrace.
The 5000 Sq. Ft. first floor space can divide to +/-2,500 Sq.ft with 14’ high ceilings at the entrance and +/-1,700 Sq. Ft with a 10'0 ceilings to the alley. It can be converted to on site parking spaces.
The second floor space measures +/- 2,500 Sq. Ft. with 14' ceilings, and includes a 1,000 Sq. Ft. outdoor terrace. The landlord will negotiate a TI allowance with the tenant based on its use and specifications. Term Negotiable.

Location