591 NW 29th Street
Miami, FL 33127
$5,500,000
- Retail
- 6,035 SF building
- 0 SF lot
- $911/SF
Highlights
- 6,035 SF building on a 0 SF lot
- Zoned T6-8-O / NRD-2 in Miami (as listed)
- Asking $911/SF
Property facts
- Price
- $5,500,000
- Price per SF
- $911/SF
- Property type
- Retail
- Building size
- 6,035 SF
- Lot size
- 0 SF
- Zoning
- T6-8-O / NRD-2 in Miami
- Neighborhood
- Wynwood
Zoning is the code the listing gives; what a code allows depends on the city.
About this property
DWNTWN Realty Advisors is pleased to exclusively present 591 NW 29th Street (the "Property"), a 5,247 SF corner commercial building on a 9,000 SF lot located at the signalized intersection of NW 29th Street and NW 6th Avenue in Miami's Wynwood Arts District. The Property was delivered following a $700,000 capital improvement program including new foundations, electrical, HVAC, sprinklers, and impact windows and doors. Street parking is available. The Property is 100% leased to three tenants, including Endgame Training LLC, a gym operator occupying 1,867 SF under a 5-year lease with 3% annual escalations, and Canopee Tech Inc., a digital menu board showroom occupying 1,566 SF under a 3-year lease stepping to $38.05/SF by Year 3. The remaining approximately 1,814 SF suite is occupied by the current owner under a lease running through May 2029, which a buyer can either assume through its term or terminate to deliver the suite vacant at closing, depending on investment strategy. All three in-place leases sit modestly below current Wynwood market rents, positioning the Property for embedded mark-to-market upside as each lease rolls over the hold period. Zoned T6-8-O with an NRD-2 overlay, the Property carries long-term redevelopment optionality up to 8 stories (12 with bonus density) beyond its current improvements. 591 NW 29th Street represents an opportunity to acquire a partially stabilized, contractually growing income stream with a clear, near-term lease-up mechanism at one of Wynwood's most visible corners.
From the listing broker.
Our estimate
Location
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