HIGHLIGHTS

• This 7 folio property consists of ± 8,128 SF of retail space situated on a ± 45,815 SF rectangular lot.
•  Positioned as a gateway to Bal Harbor, Design District, Wynwood, Downtown Miami, and Miami Beach, this location affords unmatched connectivity to South Florida’s most desirable destinations.
• Currently 100% leased to 5 tenants, Pinecrest Bakery occupies 55%of the premises with a 10 year lease term expiring in April 2029. With 14 other flourishing locations throughout Miami Dade County and 4 new locations on the way, this business has a track record for success in South Florida.
• Boasting a diverse tenant mix, the first lease rollover will not occur until 2021. With a number of tenants paying below market rents, the property’s future cash flows have significant upside potential. Additionally, the new owner will receive up to $300,000 of key-money per the terms of the lease (See Key Money Schedule on next page).
• Complimented by strong demographic drivers, the immediate 1-mile surrounding area has seen a 19.8% increase in the population over the last 7 years beating the national average by 374.29%. Furthermore, average household income increased to $66,827.
• Adding to the properties appeal is the flexible T-5 Zoning designation, allowing for a myriad of potential uses. With direct control of 7 folios, the opportunity to redevelop this perfect rectangular lot awaits.
• With a weekly traffic count of ± 248,000 Cars, the Promenade at the Upper Eastside possesses unmatched exposure.

For more information, please contact:

Blanca Commercial Real Estate

Licensed Real Estate Broker

• Cary Cohen
  (305) 377.6590
  Cary.Cohen@blancacre.com