Dev site near Wynwood Arcade hits market, could fetch more than $16M, broker says

1.65-acre site could be redeveloped into 600,000 sf project

Miami /
Nov.November 30, 2017 01:30 PM

Mika Mattingly and the development site in Wynwood

A development site in Wynwood that just hit the market could fetch anywhere from $16 million to nearly $20 million, according to comparable sales in the neighborhood.

The 1.65-acre property at 2335 North Miami Avenue is unpriced, but listing broker Mika Mattingly said land on streets away from Wynwood’s main corridor, Second Avenue, is trading for $225 per square foot to $275 per square foot.

Goltens, a marine repair facility, has owned and operated the site for at least 35 years. The company plans to lease space in Fort Lauderdale early next year, Mattingly, of Colliers International South Florida’s Urban Core division, said. She’s co-listing the property with Colliers’ Caitlin Inklebarger.

The site is zoned T-6-8 and T-5, which means it can be developed into 12 and eight stories, and between 400,000 square feet and 600,000 square feet. It’s being marketed as “the Oasis” and includes a 35,000-square-foot warehouse with a private cul de sac entrance. Mattingly said the property could be rented out as an event venue.

The site, in the southeast section of Wynwood, is a block away from East End Capital’s recently completed Wynwood Arcade, home to the Salty Donut. It’s also adjacent to a retail building that sold last year for $8.5 million, or $634 per square foot for the building and $614 per square foot for the land.


Related Articles

arrow_forward_ios
Rendering of 830 Brickell office tower; Cushman & Wakefield's Brian Gale, JLL's Manny De Zárraga, Avison Young's Donna Abood, Dwntwn Realty Advisors' Tony Arellano and Stephen Rutchik. (Credit: OKO Group and Cain International, JLL, CW, Dwntwn Realty Advisors, Cushman & Wakefield, Avison Young, Getty, 830 Brickell)
Meet the commercial brokers making bank in Miami
Meet the commercial brokers making bank in Miami
Brick & Timber's Jesse Feldman and Glenn Gilmore, Tricera Capital's Ben Mandell, and Lndmrk Development's Alex Karakhanian with Cube Wynwd (Brick & Timber, LinkedIn, Tricera, Lndmrk Development, Getty Images)
Brick & Timber to buy Cube Wynwd office building for $60M
Brick & Timber to buy Cube Wynwd office building for $60M
From left: One Flagler in West Palm Beach, 830 Brickell in Brickell, and Eighteen Sunset in Miami Beach (Getty, Related Southeast, LoopNet, Koniver Stern Group)
Spurred by new-to-market firms, South Florida office rents hit record highs
Spurred by new-to-market firms, South Florida office rents hit record highs
Rockpoint's Bill Walton and Keith Gelb with the Shops at Mary Brickell Village (left), 1221 Brickell (middle), and 911 Southwest First Avenue (right) (Rockpoint, Google Maps, Twitter)
Rockpoint’s Brickell bonanza: Firm reaps riches in booming neighborhood
Rockpoint’s Brickell bonanza: Firm reaps riches in booming neighborhood
From left: Fisher Brothers' Arnold and Kenneth Fisher with The Wynhouse
“Forced and contrived”: Fisher Brothers’ Wynwood rental project strikes out with Miami board
“Forced and contrived”: Fisher Brothers’ Wynwood rental project strikes out with Miami board
The Comras Company's Michael Comras with 6901 Biscayne Boulevard (Getty, The Comras Company, iStock)
Up in smoke? Comras loses bid to open medical marijuana dispensary
Up in smoke? Comras loses bid to open medical marijuana dispensary
rendering of the Nautilus 220 condo project with Developers Daniel Kodsi of Royal Palm Companies and Peter Baytarian, managing partner at Forest Development (LinkedIn, Forest Development, VS Studios)
Forest Development, Royal Palm nab $269M condo construction loan
Forest Development, Royal Palm nab $269M condo construction loan
From left: Oak Row Equities' David Weitz and Erik Rutter with Edgewater
Oak Row Equities plans 400-unit apartment, office tower in Edgewater
Oak Row Equities plans 400-unit apartment, office tower in Edgewater
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...