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Price: $3,800,000

For Sale

Price: $3,800,000

SE 2nd Ave, Miami, FL 33131

Description

Price: $3,800,000

3 Star Parking Garage on .53 AC. Price/SF is $93.44. Cap rate is 5.21%.

CashFlowInMiami is pleased to offer for sale the condominium interest in Chase Bank Building Parking Garage 150 SE 2nd Avenue (the “Property” or the “Parking Garage”), a 118-space parking garage located in the heart of Downtown Miami. Located on SE 2nd Street and attached to the recently renovated Chase Bank Building, the Parking Garage offers direct access to I-95 allowing for increased accessibility from all locations throughout Miami. It is comprised of three stories with 118 parking spaces which is currently managed by Park One through May 2022, South Florida’s leading provider of parking services. The Parking Garage serves as primary parking for the Chase Bank Building, a fully remodeled,

14-story condominium office and retail building with 140,000 square feet that is currently 90.8% occupied.

SALE HIGHLIGHTS

• Infill Parking Garage in the Heart of Downtown Miami Immediately Surrounded by 16.6M of commercial space and 10,200 residential apartment units and 2,

• Favorable Ownership Structure Mitigating Real Estate Tax and Operating Expense Increases and Capital Requirements for New Ownership

• Immediate Income Growth Potential from Capturing Resurging Transient Income, Activating Night/Weekend Use, and Potential Additional Parking Capacity

• Direct and Highly Convenient Access onto I-95 Providing Key Competitive Advantage

• Within 140,000 SF Fully Remodeled and Renovated Office Building with Ground Floor Retail (separately owned and not a part of the offering)

Want more info? Contact Andrey today!

SOLD
For Sell

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