All washed up: Wynwood car wash sells, to be redeveloped

Buyers paid $1.48M for site that includes 5,130 sf lot and 2,280 sf building

Sep.September 30, 2015 02:15 PM

A Wynwood car wash soon will be redeveloped into a health food cafe and physical training facility, as the gritty Miami neighborhood quickly transforms, The Real Deal has learned.

Pascal & Elisa Nicolle just paid $1.48 million for the property at 2021 Northwest Second Avenue, Vincent J. Pastore, principal of Vincent Pastore & Associates, who represented the buyers, told TRD. The couple’s son is a principal in Republic of Movement, which will be the tenant once the site is rebuilt.

Republic of Movement currently offers classes and coaches at the Metropolis Fitness Spa and Gym in Coral Gables. According to its website, Republic of Movement teaches gymnastic strength training, Olympic weightlifting, hand balance, dance, and general strength & conditioning. Services include both classes and coaching.

“It’s going to be a tremendous thing for Wynwood,” Pastore told TRD. “All the sudden it goes from a car wash to a health food cafe with outdoor seating and Republic of Movement, which will have many members come and use the facility.”

The site includes a 5,130-square-foot lot with an existing building that has 2,280 square feet, built in 1949, according to Miami-Dade property records. The seller is 123 Northwest 51st St LLC, whose managing member is Steven Rhodes, according to property records. The entity purchased the property in July 2014 for $725,000.

The seller was represented by Tony Garcia of  International Prestige Realty.

Wynwood, known for its artsy vibe, is a neighborhood in transition, with rising property sales and a flurry of new retail stores and restaurants.

The city of Miami’s Planning, Zoning and Appeals Board recently approved a slate of changes to zoning and land use designations that would allow denser residential developments on roughly 205 acres in Wynwood.

Last week, Thor Equities paid $41.5 million for more than an entire block in Wynwood, a missing piece that gives it one square block and marks the largest deal ever in the neighborhood.

Among new area retailers are Warby Parker, Illesteva and Marine Layer, and new restaurants include Wynwood Diner and the Lunchbox. The area is also home to art galleries and one of the largest open-air street art installations in the world including Wynwood Walls, creative offices and showrooms.

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