411 Michigan Ave - LoopNet...Murano Grande at Portoﬁno Condo The Yacht Club at Portoﬁno Murano...

411 MICHIGAN AVENUEMIAMI BEACH, FL

RE-DEVELOPMENT

EXECUTIVE SUMMARY

$2,699,000

Decorus Realty is excited to present a unique once in a lifetime opportunity in the heart of South Beach’s most exclusive location South of 5th! SoFi. 411 Michigan is not only an address it is a destination.

This lot offers the buyer the chance to develop a one of a kind project with some of the best-mixed use zoning that is currently available in all of Miami Beach. The property is zoned for several different uses giving the investor/developer the option to build multi-family, condo apartments, a boutique hotel, or a short-term apartment rental project in what is considered an A+ location. With only a handful of lots still available, once these last parcels sell it will be challenging to acquire land in the SoFi District.

411 Michigan Avenue is strategically located right off of 5th Street and Alton Road with easy access to the beach, the McCarthur Causeway (Miami), and all of South Beach. Walking distance to some of the best shop-ping and dining Miami Beach has to offer. The South of Fifth Street District is the best location in Miami Beach for exclusive residential and boutique hotel development.

We have engaged renowned Miami architect Wesley Castellanos of Castellanos Design, who has worked on several different options to fit this parcel of land including an 8 to 12 unit building ideal for a short term rental project.

Miami Beach and Miami are quickly growing into one of the nation's top metropolises and this deal offers the chance to own a piece of the best that South Florida has to offer.

PROPERTY OVERVIEW

SALES PRICE

TOMAS SULICHIN305-788-2878

MATTHEW KRINZMAN305-303-8131

SOFI – SOUTH OF FIFTH STREET MIAMI BEACH

DETAILS

PROPERTY DETAILS

7,000 SQ FT

01LOT SIZE

02

The Zoning is under C-PS2 (commercial

mixed use buildings Sec.142-696).

ZONING



03USES

The Zoning is under C-PS2 (commercial mixed use buildings Sec.142-696).

The Use of Multi-Family Residential will be permissible for the use as follows:

•FAR of 2.0 on the 7,000 s.f. lot. •Allowing to have 14,000 s.f. •Building height max is 5 stories, 50'-0". •Parking Sec 142.705: 1.25 spaces per unit and one accessible parking space

ZONING

ZONING DATA SHEET



Zoning/ Building Information - OPTION A%Adress:

Folio number(s):

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Max Floor Area Ratio

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Front Second Level:

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Planning Department, 1700 Convention Center DriveMiami Beach, Florida 33139, www.miamibeachfl.gov

305.673.7550

Located within a Local Historic District?

MIAMI BEACH

RENDERS

PROJECT RENDERS



AERIAL SHOTS



NORTH VIEW SOUTH VIEW

FRONT TOP VIEW

TOP VIEW

WIDE VIEW

AERIAL SHOTS



The Bentley Bay Condominiums

Murano Grande at Portofino Condo

The Yacht Club at Portofino

Murano at Portofino

Urbanica The Meridian Hotel

The Fritz

The Savoy

The Marriott Stanton South Beach

The Hilton Bentley Miami/South Beach

LANDMARKS MAP

RETAILERS, HOTELS & DEVELOPMENTS MAP

HOTELS & DEVELOPMENTS LEGEND



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CONSTRUCTION

There hasn't been any development this cycle, and the last major delivery over 100 units was in the 1960s. Construction is picking up but most projects in the pipeline are smaller in size.

The most significant project underway is The Wave, a large mixed-use development that will feature more than 300 residences, about a third of which will be apartments. Historically, this submarket has demolished more units than it has delivered on a yearly basis, and new apartments are hard to come by.

CONSTRUCTION

DELIVERIES & DEMOLITIONS



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FORECAST30

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DELIVERIES DEMOLISHED NET DELIVERIES

COMPARABLES

803 5TH STMiami Beach, FL 33139Commercial Land of 0.21 AC Sold on 6/12/2017 for $5,965,000

304-312 OCEAN DROcean Drive Development SiteMiami Beach, FL 33139Residential Land of 0.26 AC Sold on 12/18/2018 for $10,000,000

161 WASHINGTON AVESOFI 161 WashingtonMiami Beach, FL 33139Commercial Land of 0.15 AC Sold on 1/18/2019

251 WASHINGTON AVEMiami Beach, FL 33139Commercial Land of 0.30 AC Sold on 6/14/2019 for $6,125,000



BIOGRAPHYS

As President of Decorus Realty Commercial Department Tomas oversees a dedicated team of professionals and is hand on on all scale of deals. Young and driven with a proven track record of success including iconic sales in Wynwood, Little Havana, MIMO and Hollywood. “Miami has always been my home, I’ve seen areas change and grow drastically through the years, it has given me insiders knowledge of future trends of this market that few have”.

TOMAS SULICHIN

Matthew is a life-long resident of South Florida and a licensed Broker-Associate for 23 years. Having the benefit to live, work, and to be a part of the transformation of South Florida from a retirement destination, and winter vacation spot into a thriving world-class Metropolitan area, gives him a unique perspective on the market and the future of the city.

MATTHEW KRINZMAN



CONFIDENTIALITY

All materials and information received or derived from Decorus, LLC its directors, officers, agents, advisors, affiliates and/ or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither Decorus, LLC its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. Decorus, LLC will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Decorus, LLC makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Decorus, LLC does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants, and governmental agencies. All properties and services are marketed by Decorus, LLC in compliance with all applicable fair housing and equal opportunity laws.

CONFIDENTIALITY & DISCLAIMER



THE INFORMATION CONTAINED IN THIS BROCHURE IS NOT NECESSARILY AN ACCURATE DESCRIPTION OF THE PROJECT.The information contained in this brochure is conceptual only and used to depict the spirit of the lifestyles and environment to achieved rather than specifics that are to be delivered. This brochure is merely intended as an illustration of the activities, community, and concepts depicted herein, and/or features consistent with the displayed lifestyle. This information should not be relied upon as representations, express or implied, of the actual detail of the Project. The Developer expressly reserves the right to make modifications, revisions, and changes it deems desirable in its sole and absolute discretion and without prior notice. Developer reserves the right to substitute any of the foregoing with items of similar or better value in developer’s opinion. For details regarding the amenities and features to be included and/or the units, make reference to the Purchase Agreement and the prospectus. This is not an offer to sell, or solicitation of offers to buy, in states where such offer or solicitation cannot be made. Prices, plans, and specifications are subject to change without notice.



411 Michigan Ave - LoopNet...Murano Grande at Portoﬁno Condo The Yacht Club at Portoﬁno Murano...

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