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150 SE 2nd Ave - Chase Bank Building 9,622 SF Retail Condo Unit Offered at $9,712,180 in Miami, FL 33131
Investment Highlights
- Acquire a single-tenant retail condominium leased to Chase Bank and backed by a JPMorgan Chase corporate guaranty in the heart of Downtown Miami.
- Lease structure features 3% annual rent increases throughout the remaining term and option periods, supporting consistent NOI growth.
- High-profile corner frontage maximizes visibility through significant foot traffic, vehicle exposure, and prominent building signage rights.
- Florida's highest-volume Chase branch holds over $2.3B in deposits, underscoring the location's critical role across the bank's statewide network.
- Below-market rental rates provide embedded upside potential through a future market rent adjustment while offering stable in-place cash flow today.
- Surrounding luxury residential development, proximity to I-95, and direct connectivity between Downtown Miami and Brickell support long-term demand.
Executive Summary
Control of a flagship Chase Bank retail condominium at 150 SE 2nd Avenue presents a rare opportunity to acquire the bank's highest-volume Florida branch by deposits. Positioned on the ground floor of the Chase Bank Building at the signalized intersection of SE 2nd Avenue and SE 2nd Street, the property has served Chase Bank since 2002 while maintaining a prominent street-level presence within Downtown Miami's financial district. The retail condominium ownership structure provides direct control of a highly visible urban retail footprint, including valuable signage rights, without many of the maintenance obligations associated with traditional fee-simple ownership. Backed by a corporate guaranty from JPMorgan Chase, the investment offers stable in-place income, contractual rent growth, and embedded upside within a Downtown Miami retail market. The lease includes 3% annual rental escalations throughout the remaining primary term and option periods, supporting consistent net operating income growth and providing protection against inflation. Current rental rates remain below prevailing market levels for comparable Downtown Miami retail space, creating future upside potential through a market rent reset while maintaining a defensive income profile today. Approximately $379,000 in annual net operating income (NOI), investment-grade credit, and a mission-critical branch location further enhance the property's long-term investment appeal. Branch performance and surrounding development activity underscore the location's significance. Deposits have increased from approximately $829 million in 2018 to more than $2.3 billion in 2025, making this the highest-volume Chase Bank branch in Florida. Thousands of luxury residential units have recently been completed or are under development nearby, including Waldorf Astoria Miami, Mandarin Oriental Residences, Nobu Residences, Aston Martin Residences, Baccarat Residences, and Delano Residences. Located a couple of blocks from Interstate 95 and positioned along a primary connection between Downtown Miami and Brickell, the property benefits from exceptional accessibility and placement within an active financial, residential, hospitality, and commercial district that continues to attract significant investment and redevelopment activity.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | APN/Parcel ID | 01-4138-159-0070, 01-4138-159-0200 |
| Cap Rate | 3.90% |
| Sale Type | Investment |
| Cap Rate | 3.90% |
| APN/Parcel ID | 01-4138-159-0070, 01-4138-159-0200 |
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 101 & 102 | 9,622 SF | Retail | $9,712,180 ($1,009.37/SF) | $378,776 |
Unit 101 & 102
| Unit Size |
| 9,622 SF |
| Condo Use |
| Retail |
| Price |
| $9,712,180 ($1,009.37/SF) |
| NOI |
| $378,776 |
Unit 101 & 102
| Unit Size | 9,622 SF |
| Condo Use | Retail |
| Price | $9,712,180 ($1,009.37/SF) |
| NOI | $378,776 |
| Sale Type | Investment |
| Cap Rate | 3.90% |
| APN/Parcel ID | 01-4138-159-0070, 01-4138-159-0200 |
| Description | |
| Situated on the ground floor of the Chase Bank Building at 150 SE 2nd Avenue, the offering consists of condo Units 101 and 102, totaling approximately 9,622 square feet of street-level retail space. The condominium is currently configured as a full-service Chase Bank branch, featuring teller counters, private offices, conference rooms, customer service areas, open banking space, secure vault facilities, and back-office support. Extensive frontage at the signalized intersection of SE 2nd Avenue and SE 2nd Street provides exceptional visibility, signage exposure, and access in Downtown Miami's financial district, while more than two decades of continuous occupancy have established the location as a recognized banking destination in the urban core. |
Property Facts
Amenities
- 24 Hour Access
- Banking
- Controlled Access
- Property Manager on Site
- Reception
- Air Conditioning
- On-Site Security Staff
About Downtown Miami
Downtown Miami is part of Miami’s primary office node and developers have doubled the area’s apartment stock over the past decade. It is on course to double again over the next few years. Based here are some of Miami’s historic district, several museums, the 20,000-seat Kaseya Center, luxurious hotels, entertainment spots, and many highly rated restaurants. Downtown Miami boasts the region’s best public transport network and is home to MiamiCentral, the largest train station in the Southeast. The area’s desirable live/work/play experience has drawn many of Miami’s young professionals and high-earners, leading to a sharp rise in the area’s population. Workers and visitors double the area’s daytime population.
Financial and business services have the most significant footprint in the area. Government organizations, Miami-Dade College—the country’s largest higher education institution—and Miami’s court system are also located in this area. Some of the most prominent tenants in this submarket are Greenberg Traurig LLP, Citi, Morgan Stanley and Carlton Fields.
Office development in the area over the past few years has been significant and ahead of national trends.
Demographics
Demographics
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Jon Smith Subs | - | - | 2 min walk |
| Las Palmas Restaurant | Latin American | $$$ | 2 min walk |
| Fratelli Milano | Italian | $$$ | 2 min walk |
| The Bistro | American | - | 2 min walk |
| French Spice Miami | American | - | 1 min walk |
Retail |
||
|---|---|---|
| Edible Arrangements | Other Services | In Building |
| Hola Rent A Car | Auto Rental | 2 min walk |
| AT&T Wireless | Wireless Communications | 3 min walk |
| The UPS Store | Business/Copy/Postal Services | 2 min walk |
| Express Optical | Eyeware Accessories | 2 min walk |
Hotels |
|
|---|---|
| JW Marriott |
313 rooms
1 min drive
|
| citizenM |
252 rooms
3 min drive
|
| InterContinental |
652 rooms
2 min drive
|
| W Hotel |
146 rooms
2 min drive
|
| Four Seasons |
231 rooms
4 min drive
|
Sale Advisors
Sale Advisors
Rodrigo Gomez, Partner / Broker
AG REAL ESTATE ADVISORS was born in 2011 and it's growing at a fast pace with close to 80 advisors committed to provide the best service and advise.
AG RE Advisors most recent assignment is the exclusive sales of FORUM AVENTURA & FORUM PARK, a total of 220,000 RSF of office condo space in two independet ground up towers in Aventura Florida.
The Agostini Gomez team was in charge of the first office condo conversions on Brickell Avenue in Miami. 1110 Brickell Avenue, the first prime office condo conversion in the Miami area was successfully followed by 1200 Brickell, AKA the BB&T center.
In 1999, Mr. Gomez moved to Miami and Joined Fortune International in the sales of multiple residential projects and general residential and commercial real estate sales and brokerage.
Before moving to Miami, Mr. Gomez was a partner with Eduardo Gomez Arquitectos Promotores & Co. Ltd, a development and brokerage firm in Colombia that was involved in several high-end residential projects in Cali and San Andres Island.
Marcello Agostini, Managing Partner
As a Sales Director for the 1200 Brickell - Office Condo Project, Mr. Agostini was involved in every aspect, from the acquisition analysis and due diligence, the legal aspect of the conversion process, to the sales and closings of the office spaces.
Prior to joining Fortune International, he was a consultant with Accenture for the financial services industry. As a consultant in the banking industry, he was involved in projects with responsibilities such as product development, asset valuations, and merger implementation.
NNN Tenant Information Click Here to Access
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| GIA Miami |
-
|
Jan 0000
|
Contacts
-
Rodrigo Gomez -
Marcello Agostini -
Carlos Chavarro -
AG Commercial Real Estate Advisors
