Miami River site near Beckham’s stadium hits the market for $11.8M

Blue Road planned to develop the 1.1-acre site, but listed it due to stadium buzz

Miami River site. Inset: broker Jonathan Molano
Miami River site. Inset: broker Jonathan Molano

Rendering of the Beckham stadium with Blue Road’s property on the bottom right

A development site along the Miami River was just listed for $11.8 million, near David Beckham’s planned Major League Soccer stadium, broker Jonathan Molano told The Real Deal.

The owner, Blue Road Properties planned to develop the 1.1-acre site at 600 Northwest Seventh Avenue, but because of the stadium decided to list it for sale. The firm is not in a rush to sell and if it doesn’t sell, Blue Road will develop it, Molano, of Blue B Properties, said.

Miami Beckham United plans to build an over $300 million, 25,000-seat stadium north of the Miami River site. The stadium design still lacks parking, and part of the Beckham group’s plan is to have a dinner-cruise boat transport fans to the river, which Molano said makes the property more desirable.

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“It’s the only property left on the Miami River with 400 linear feet on more than one acre,” Molano said. It includes a private marina with 10 dock slips.

It’s on the market for about $250 per square foot.

Property records show Blue Road affiliate Miami River Property Dev LLC paid $6.7 million for the boat yard and marina in March of last year, which means the company now wants to sell it for 76 percent more. The company owns a number of hotels, and is also developing the Highlands condo project in North Miami Beach.

Several large-scale, mixed-use projects are planned for the historic waterway, including KAR Properties’ One River Point, a 60-story luxury condominium project designed by architect Rafael Viñoly; and the Chetrit Group, Ari Pearl and JDS Development Group’s plans for a mixed-use development with four towers, a hotel, shops, restaurants and a public river walk with boat slips.

Developer Andrew Hellinger is also planning to build River Landing, which would have 475 apartments and a five-story retail complex with 426,000 square feet of space. Farther up along the river, a 2.8-acre site at 2974 Northwest North River Drive hit the market and is under contract for close to its asking price of $5.6 million.