Comras looks to sell Five Guys property on Washington Ave

The property is hitting the market for $1,391 psf

TRD MIAMI /
Jan.January 15, 2020 01:30 PM
Michael Comras and 1500 Washington Avenue (Credit: Google Maps)

Michael Comras and 1500 Washington Avenue (Credit: Google Maps)

Michael Comras is looking to sell a retail property on Miami Beach’s Washington Avenue.

The Comras Company is listing a 7,116-square-foot building at 1500 Washington Avenue that is anchored by the popular fast casual restaurant Five Guys. The property is hitting the market for $9.9 million or $1,391 per square foot, according to a release.

Drew A. Kristol and Kirk D. Olson of Marcus & Millichap are representing the seller in the deal.

Kristol declined to disclose the seller, but property records show that Comras owns the property. Five Guys recently invested over $600,000 into their leased space, according to the release.

The property is close to Lincoln Road Mall and is next to a public parking lot on 16th Street. It also has 5,000 square feet of additional buildable area, according to the release.

The building was built in 1948 and was last purchased in 2003 for $1.74 million, records show.

The Comras Company was recently tapped to lease the retail component at the 27-acre mixed-use Miami Worldcenter development near downtown Miami. Comras founded Comras Company in 1992 and specializes in the leasing and sale of urban and suburban retail properties.

Washington Avenue is undergoing major redevelopment amid the city’s approval in 2015 of measures designed to increase hotel space and retail and dining opportunities on the street. Lightstone Group is building a 202-key hotel at 915 Washington Avenue. Nearby, at 601 to 685 Washington Avenue, Imperia Companies’ Michael Fascitelli and Eric Birnbaum are building a seven-story, 300-key hotel.


Related Articles

arrow_forward_ios
Jeffrey Dagowitz, Ophir Sternberg and 100 21st Street (Credit: Getty Images, Google Maps)

Lionheart and Jeffrey Dagowitz sell Seagull Hotel Miami Beach for $120M

Multiplan launches sales of boutique luxury condo project on Ocean Drive

Multiplan launches sales of boutique luxury condo project on Ocean Drive

Continuum South Beach unit 606 and Dan Buettner (Credit: Douglas Elliman)

Is it the water? Longevity expert buys Continuum South Beach condo

Moshe Popack and his Flamingo Drive home

Private equity firm exec sells Miami Beach mansion to Moshe Popack

Rendering of hotel addition at Sterling Building (Credit: Kobi Karp Architecture & Interior Design)

Sterling Building on Lincoln Road scores hotel approval

From left: Jill Hertzberg and 1633 North View Drive, and Dr. Arthur Agatston and Sari Agatston (Credit: Getty Images)

South Beach Diet founder sheds Sunset Island home

Miami Beach seeks to fix floor area ratio controversy involving Galbut and Martin’s Park on Fifth project

Miami Beach seeks to fix floor area ratio controversy involving Galbut and Martin’s Park on Fifth project

Ilya Karpov, 38 South Hibiscus Drive

Russian mogul sells Hibiscus Island spec home for $14M

arrow_forward_ios
Loading...