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 the Dorsey with Alex Karakhanian, Jon Paul Perez and Tricera’s Scott Sherman and Ben Mandel (iStock)

Related scores $88M construction loan for Dorsey project in Wynwood

Related scores $88M construction loan for Dorsey project in Wynwood
Dan Deitchman and Koby Assaraf with a rendering of Industry | Oakland Park

Oakland Park developer partners with former Link Real Estate exec on new firm

Oakland Park developer partners with former Link Real Estate exec on new firm
Ben Bernstein and Ryan Shear with a rendering of the project at 2407 Northwest 2nd Avenue, Miami (RedSky, PMG, Google Maps)

PMG adds to assemblage of planned Society Wynwood project

PMG adds to assemblage of planned Society Wynwood project
Renderings of the project (Group P6)

Group P6 lands $69M construction loan for Boca Raton project

Group P6 lands $69M construction loan for Boca Raton project
Goldman Properties' Jessica Goldman Srebnick with 2501 Northwest 5th Avenue and the lot at 413 Northwest 25th Street, Miami (Getty, iStock)

Goldman Properties buys Wynwood property for discounted $5M

Goldman Properties buys Wynwood property for discounted $5M
Pharrell Williams and David Lerner with a photo of 2545 Northwest Third Avenue and a rendering of the Billionaire Boys Club exterior (Getty, Google Maps, Lerner Family Properties)

Pharrell’s Billionaire Boys Club to open store in Wynwood

Pharrell’s Billionaire Boys Club to open store in Wynwood
Alex Sapir and Bella Sapir (Credit: Mark Von Holden/WireImage via Getty Images, and ADRIEL REBOH/Patrick McMullan via Getty Images)

Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside

Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside
Angel Febres, partner, Homecookin’ Hospitality and Metro 1 Managing Director Andres Nava

Wynwood nightclub building hits the market

Wynwood nightclub building hits the market
arrow_forward_ios

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

Loading...