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2530 Ponce De Leon Blvd
Coral Gables, FL 33134
Portosole Building Coral Gables · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Trophy Coral Gables Location | Situated on A Prime Signalized Corner Along Ponce De Leon Boulevard
- New Roof was Installed in 2020 and is Under Warranty, Minimizing Near-Term Capital Expenditure Risk
- Surrounded by Luxury Retail, Boutique Hotels, Office Space, and Residential Communities that Drive Daily Traffic and Patronage
- Net Lease Opportunity - Minimal Landlord Responsibilities | Landlord is Responsible Only for Roof and Structure
- Generational-Quality Asset | Rare Fee-Simple Opportunity in an Irreplaceable Location
- High-Quality Buildout | The Building Features a Modern Interior, Full Commercial Kitchen, and High-End Finishes
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present for sale this trophy, net-leased passive income property located at 2530 Ponce de Leon Boulevard in the heart of Coral Gables, Florida. The subject property consists of approximately 5,500 square feet, leased in its entirety to Portosole, a fine dining Italian concept operated by internationally renowned restaurateur.
Strategically positioned along Ponce de Leon Boulevard, one of Miami-Dade County’s most prominent and historic commercial corridors, the property enjoys exceptional visibility and access within the heart of Coral Gables. Known as “The City Beautiful,” Coral Gables is one of South Florida’s most affluent and architecturally distinct neighborhoods, home to luxury residences, Class A office space, international consulates, and a vibrant retail and dining scene. The immediate area is a destination for both locals and visitors, characterized by walkable tree-lined boulevards, Mediterranean Revival architecture, and a unique blend of cultural, business, and leisure activity.
The property is further enhanced by its proximity to significant new and ongoing developments, including Ponce Park Residences, The Village at Coral Gables, and the highly anticipated Former Sears Site Redevelopment, each of which will contribute to increased foot traffic, neighborhood vibrancy, and long-term real estate value. Coral Gables continues to outperform regional and national benchmarks in household income, property values, and retail demand, supported by high barriers to entry and enduring appeal as one of South Florida’s premier submarkets.
The lease is backed by Portosole, LLC with more than four years remaining on the initial term and includes attractive 3 percent annual rental increases throughout the current term and both five-year renewal options. This structure offers investors secure, predictable cash flow with minimal landlord responsibilities, while the current below-market rent provides meaningful potential upside upon renewal or repositioning.
This offering represents a rare opportunity to acquire a fee-simple property occupied by Portosole in Coral Gables – one of Miami’s most prestigious neighborhoods. With below-market rent providing embedded upside, stable in-place cash flow from a proven operator, and an irreplaceable Coral Gables location, 2530 Ponce de Leon Boulevard stands as a generational-quality investment with lasting fundamentals.
Strategically positioned along Ponce de Leon Boulevard, one of Miami-Dade County’s most prominent and historic commercial corridors, the property enjoys exceptional visibility and access within the heart of Coral Gables. Known as “The City Beautiful,” Coral Gables is one of South Florida’s most affluent and architecturally distinct neighborhoods, home to luxury residences, Class A office space, international consulates, and a vibrant retail and dining scene. The immediate area is a destination for both locals and visitors, characterized by walkable tree-lined boulevards, Mediterranean Revival architecture, and a unique blend of cultural, business, and leisure activity.
The property is further enhanced by its proximity to significant new and ongoing developments, including Ponce Park Residences, The Village at Coral Gables, and the highly anticipated Former Sears Site Redevelopment, each of which will contribute to increased foot traffic, neighborhood vibrancy, and long-term real estate value. Coral Gables continues to outperform regional and national benchmarks in household income, property values, and retail demand, supported by high barriers to entry and enduring appeal as one of South Florida’s premier submarkets.
The lease is backed by Portosole, LLC with more than four years remaining on the initial term and includes attractive 3 percent annual rental increases throughout the current term and both five-year renewal options. This structure offers investors secure, predictable cash flow with minimal landlord responsibilities, while the current below-market rent provides meaningful potential upside upon renewal or repositioning.
This offering represents a rare opportunity to acquire a fee-simple property occupied by Portosole in Coral Gables – one of Miami’s most prestigious neighborhoods. With below-market rent providing embedded upside, stable in-place cash flow from a proven operator, and an irreplaceable Coral Gables location, 2530 Ponce de Leon Boulevard stands as a generational-quality investment with lasting fundamentals.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
5,500 SF
Building Class
C
Year Built/Renovated
1924/2003
Price
$4,500,000
Price Per SF
$818.18
Cap Rate
4.11%
NOI
$184,864
Tenancy
Single
Building Height
2 Stories
Building FAR
1.40
Lot Size
0.09 AC
Zoning
CB, Coral Gables - Community Business District
Frontage
AMENITIES
- Bus Line
- Restaurant
- Signage
- Signalized Intersection
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 03-4117-005-1890 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,928,200 |
PROPERTY TAXES
Parcel Number
03-4117-005-1890
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,928,200
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