AIDS foundation buys retail building on Biscayne Boulevard

Sellers own the furniture store that currently occupies the building

TRD MIAMI /
Nov.November 21, 2017 03:45 PM

2400 Biscayne Boulevard (Credit: Google Maps)

The AIDS Healthcare Foundation is branching out into Biscayne Boulevard, in Miami’s Edgewater neighborhood. Property records show AHF paid $6.8 million for a retail building at 2400 Biscayne Boulevard.

The sellers are the owners and managers of KOM, the furniture store that occupies the building. Luis Morales Valerio and Javier Ocampo sold the 8,670-square-foot retail building for about $784 per square foot. The building hit the market in May 2016 for $6.75 million.

Records show that Valerio paid a little more than $2 million for the building and an adjacent parking lot in 2004. In 2009, Valerio sold the parking lot, which had a value placed on it by the bank of $495,000.

CBRE’s Todd Weintraub, Kevin Ruiz and Danny Diaz represented the sellers. In a previous interview with The Real Deal, Valerio said he does not plan to close the store, and instead wants to relocate it elsewhere in Miami.

Biscayne Boulevard has increasingly become a target for investors and developers, attracting new restaurants and retail tenants. In September, Atlas Capital Group sold a nearby development site at 1900 Biscayne Boulevard for $18.4 million.

In August 2016, AHF paid $4.8 million for a 5,200-square-foot building at 2900 Biscayne Boulevard. The building now operates as a medical retail pharmacy for AHF. Representatives for AHF were not immediately available to comment.


Related Articles

arrow_forward_ios
Alex Sapir and the site at 1768 Northeast Second Court (Credit: CBRE)

Alex Sapir’s massive Opportunity Zone site in Miami hits the market

Rendering of Crescent Heights’ project with Russell Galbut

Crescent Heights to begin construction of massive Edgewater project

James Harpel and The Bristol in West Palm Beach

South Florida developer pays $8M for condo at the Bristol

Broker Jamie Maniscalco and Russell Galbut with 2901 Northeast Second Avenue

Russell Galbut closes on missing piece of his Edgewater assemblage

Listing broker Rani Hussami and Hamilton on the Bay

Arison-developed Hamilton on the Bay hits the market in Edgewater

Real estate broker and radio host Jim Fried jumps into Miami commission race

Island Bay renderings and Carlos and Martin Melo

Melo Group reveals plans for massive 60-story towers in Edgewater

Russell Galbut and 3000 Biscayne Boulevard (Credit: Haute Living and Google Maps)

Crescent Heights buys Staples building in Edgewater

arrow_forward_ios