The Real Deal Miami

Restaurant space at 50 Biscayne hits the market

Related completed the 55-story tower in 2007

July 13, 2015 04:30PM
By Katherine Kallergis

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50 Biscayne (Credit: Averette)

50 Biscayne (Credit: Averette)

Two-story, ground-floor commercial space at 50 Biscayne in downtown Miami has been listed for $8.3 million, Marcus & Millichap announced on Monday.

The 9,300-square-foot retail/office space is currently built out as a restaurant with bar and patio space, according to a press release.

Ryan Shaw, a Marcus & Millichap associate vice president of investments, and Brooks Minford, an associate, are representing the seller, an investor from Sunny Isles Beach.

“50 Biscayne offers an excellent opportunity for an investor to own the retail space that fronts Biscayne Boulevard and Flagler Street,” Shaw said in the release. “A buyer has the option to bring in a new restaurant tenant or divide the space. Similar NNN spaces in the area are renting above $50 per square foot and the other retail space in the building is fully occupied.”

The Related Group developed the 55-story tower in 2007. It was designed by Sieger Suarez and the Rockwell Group. Cervera Real Estate has an office in the building and manages the residential units.

50 Biscayne is located across the street from Bayfront Park and is near Marshalls, Walgreens, Bank of America and BB&T.