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Normandy Isle Retail/Development Site 969 Normandy Dr 14,475 SF 100% Leased Retail Building Miami Beach, FL 33141 $13,500,000 ($932.64/SF)
Investment Highlights
- Normandy Isle Grocery Anchored Retail Property on Two Large, Developable Lots Zoned CD-2 and RM-1, Totaling 39,750 SF of Land
- Includes 14,475 SF Retail Building with In-Place NOI of $450,000 – 100% Occupied by Sabor Tropical Supermarket and Advance Auto - Both Expire in 2028
- North of Miami Beach has Seen a Development Boom with Multiple Retail, Hotel and Multi-Family Developments Currently in Planning or Under Construction
- Offering Allows for up to Five Stories of Multifamily / Mixed-Use Development, or the Ability to Raise Rents on Existing Leases, which are Short-Term
- Corner Location in Miami Beach on High Traffic Normandy Drive Just Across the Street From the Famous Normandy Fountain Plaza
- Subject Property Includes an 18,750 SF Surface Lot that is Adjacent to the Retail Parcel, Allowing for Additional Development and/or Parking Capacity
Executive Summary
Marcus & Millichap is pleased to present for sale, Normandy Isle Retail/Development Site located in Miami Beach, Florida. Please contact the listng team at 786-522-7086 for more information on this opportunity.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
14,475 SF
Building Class
C
Year Built
1987
Price
$13,500,000
Price Per SF
$932.64
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
0.91 AC
Zoning
CD-2 - Commercial
Parking
15 Spaces (1.04 Spaces per 1,000 SF Leased)
Frontage
153’ on Normandy Dr
Amenities
- Signalized Intersection
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Advance Auto Parts
- Services
- 6,600 SF
- -
- -
- Tropical Supermarket
- Retailer
- 7,875 SF
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Advance Auto Parts | Services | 6,600 SF | - | - | ||
| Tropical Supermarket | Retailer | 7,875 SF | - | - |
Walk Score®
Walker's Paradise (90)
Nearby Major Retailers
Property Taxes
| Parcel Number | 02-3210-013-0410 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $4,224,185 |
Property Taxes
Parcel Number
02-3210-013-0410
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$4,224,185
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Normandy Isle Retail/Development Site | 969 Normandy Dr
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