Regions North Miami Beach Site

Listing was updated at: 11/25/2019
Property Overview
Price/Rent PSF $ 18,000,000.00
Asset Type Office
Trade Type Sale
SQ. FT. Available 136,468
Date Available 11/25/2019
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Floors 12
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North Miami Beach, known for its mid-rise apartment buildings and traditional shopping centers, is now undergoing a major facelift. In recent years, developers have been acquiring land in order to develop new high-rise mixed use buildings. NMB's proximity to Sunny Isles and Aventura makes it desirable for commerce and living thanks to its major accesses to transportation, retail, high quality residences, and entertainment destinations. According to recent studies, there are nearly 8,000 new condo and rental units in the planning and pre-sale phase of development along Biscayne Blvd between 151st Street and 176th Street. The Regions Bank Building is the tallest building in the area located along 167th St at the extension of the busy 163rd street corridor; the main thoroughfare connecting Biscayne Boulevard and the Golden Glades Interchange with its major highways. The property has easy and convenient access to Florida's Turnpike, I-95, SR-441, and the Palmetto Expressway.

1.2 Miles to Golden Glades Interchange (I-95, 441, 826, Turnpike, 9)
2.1 Miles to Golden Glades Commuter Rail
5.0 Miles to Opa-Locka Commuter Rail
11.9 Miles to Fort-Lauderdale -Hollywood International Airport
20.7 Miles to Miami International Airport
4.9 Miles to Aventura Mall
5.3 Miles to Sunny Isles Beach
7.3 Miles to Bal Harbour Shops

TIR Prime Properties is proud to present The Regions North Miami Beach Site, a complex containing a 12 story office building, a one-story retail shopping strip center, a two-level parking garage, and a free-standing one-story retail building, all on 2.9 acres of prime North Miami Beach land. This exclusive offering consists of a mix of retail and office with ample parking. Recent strategic upgrades and renovations done on the property have led to a recent increase in leasing and further improvements could raise the 54.5% occupancy and rates.

The large parcel of covered land offers tremendous upside in redeveloping the property to include a hotel, residential, self-storage and retail with North Miami Beach's B-2 zoning while taking advantage of its rental income and lease-up upside.