the commissary · of price, rental or other conditions, prior sale, lease or ˜nancing, or...

THE COMMISSARY

F U L LY B U I LT O U T C O M M E R C I A L K I T C H E N

72 NW 79 STREETCOMMERCIAL

PRESENTS

METRO 1

THE COMMISSARY


72 NW 79 STREET

Unparalleled access to all of Miami and Miami Beach via I-95/Biscayne Blvd/ N Miami Ave

Fully built out commercial kitchen with overlooking chefs office

New developments in the area along with favorable zoning provide future redevelopment potential

Automatic Transfer Switch for Generator

Fire safety monitoring system

Impact resistant windows

Metro 1 is proud to present the exclusive sale of 72 NW 79th St. The Property sits in a prime location in one of Miami’s most up and coming neighborhoods, Little River, with 79th St serving as a corridor between I-95, Biscayne Blvd, N Miami Ave, and Miami Beach.

The property features a +/- 2,000 SF, fully equipped commercial kitchen in the back, with a completely finished flex space in the front. The flex space is currently being used as a staging area, private dining room for events, and retains two executive offices. However, the space can be easily converted to match a variety of uses for the new owner, including food prep area, packaging, storage, business operations.

The building has been tastefully renovated with double insulated windows, marble finishes, state of the art music system, private parking and a comfortable layout for offices and events.

EXECUTIVE SUMMARY

INVESTMENT HIGHLIGHTS

ASKING PRICE $2,998,000

BUILDING SIZE 4,130 SF

LOT SIZE 8,640 SF

USES RETAIL, OFFICE, MIXED-USE

ZONING T6 8-O

SEATING/RECEPTION

TASTING/KITCHEN

EXECUTIVE OFFICE

EXECUTIVE OFFICE

WOMEN’S BATHROOM

MEN’S BATHROOM

LAUNDRY

COOLER/FREEZER

DRY STORAGE

COMMERCIAL KITCHEN

OFFICEELECT.

MEN’S BATHROOM

LOCKER ROOM

FILE ROOM

FILE ROOM

EXECUTIVE BATHROOM

BAR

FOYER

PARKING

Additional flex space that can serve any number of new owner’s needs

On-site executive offices

PAG

E 2Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker

executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.

[email protected]

Jack ConradSales [email protected]

Tony ChoPresident/[email protected]

THE COMMISSARY


72 NW 79 STREET

• Private gated parking including 1 handicap spot• 15 ft ceilings• Outdoor storage room • 2 executive office spaces in the front of the property • Additional storage areas for a wine cellar or employee locker room 2 full

and 1 half bath as well as a laundry room• Custom bar with water and sink• Dual-zone security system with 14 cameras throughout the property

Fully wired for state of the art audiovisual• Automatic transfer switch for easy generator hook up• Double insulated hurricane storefront and windows with thermal cool

tinted glass reducing heat by 15% or more• Top of line solid oak cabinetry both granite and marble finishes

THE PROPERTY

PAG



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THE COMMISSARY


72 NW 79 STREET

• 15-foot island hood with 2 cooking lines • Dish machine with pre-rinse sprayer• Large sink with three compartments, deep sink with two compartments,

in-line sink, and 3 hand sinks• 12-burner Vulcan stove with 2 ovens underneath, standalone Vulcan

convection oven, Flat top grill with additional oven underneath• New Hoshizaki ice machine• 2 Spaces for fryolator or pasta/veg boilers• Hookup for steamer• Plenty of stainless-steel work tables for preparation or production• Outside electric for refrigerated van or external power hookup• Chef’s office with a view of the kitchen

FULLY BUILT COMMISSARY KITCHEN

PAG



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THE COMMISSARY


72 NW 79 STREET

CONTEXT AERIAL

PAG



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THE COMMISSARY


72 NW 79 STREET

OURLITTLEONE’S

SUBJECTPROPERTY

AT&TCH

EVRO

N

MIAMIDATA VAULT

B&MMARKET

ACEHARD-WARE

JOEBLAIR ACE

PROPSMEDICALCENTER VILLA

PATRICIA APARTMENTS

SHERWOODS

D.O.G.

NOMAD TRIBE

MADE

EBB + FLOW EB

B +

FLOW

PINNACLE SQUARE

THECITADEL

UNITEDSTATESPOSTALSERVICE

NE 2

AVEN

UENE

2 AV

ENUE

GARDENSUPPLIES

NW 82 STREETNW 82 STREET

N MI

AMI A

VEN

MIAM

I AVE

<- TO I-95 | NW 79 STREET<- TO I-95 | NW 79 STREETNW 79 STREET | TO MIAMI BEACH ->NW 79 STREET | TO MIAMI BEACH ->

NE 82 STREETNE 82 STREET

AUTOZONEEXXON

CONTEXT MAP

PAG



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THE COMMISSARY


72 NW 79 STREET

Inspired by the great public gathering spaces around the world, The Citadel is a daily

destination offering local artisanal foods, handcrafted cocktails, maker driven retail, and

culturally immersive experiences unlike anything Miami has ever seen before. This is where creativity,

craftsmanship, and community all share a seat at the table.

Ebb + Flow Miami, an eco-system of creative businesses thriving in Miami’s Little River has

one restaurant space available for lease. Tenants will be the driving force behind Ebb + Flow’s

story, connecting our audiences to the creatives behind the storefront. These valuable links to the

community will be deepened by on-site experiences drawing regular locals and travelers alike.

Co-working designed for the creative professional. Everyone at MADE makes their mark with their

creativity. From visual artists, media producers and artisan craftspeople to advertisers, developers

and social activists – every endeavor here is about purpose with a social twist.

NEIGHBORS

PAG



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THE COMMISSARY


72 NW 79 STREET

82 ST: 14,500 VEHICLES/DAY

SUBJECT PROPERTY

79 ST: 29,600 VEHICLES/DAY 79 ST CAUSEWAY 41,500 VEHICLES/DAY

TRAFFIC BENEFITS

PAG



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THE COMMISSARY


72 NW 79 STREET

The NE 79 ST corridor connects I-95, Biscayne Blvd and the Causeway. NE 79 St sees an average weekly traffic of 178,500 vehicles. NE 2nd Ave sees an average weekly traffic of 77,000 vehicles per day. Biscayne Blvd serves as the main North-South arterial east of I-95 and sees an average weekly traffic of 280,000 vehicles.

WYNWOOD

DESIGNDISTRICT

WYNWOOD

MIDTOWN

DESIGNDISTRICT

LITTLE HAITI

LITTLE RIVER

UPPER EAST SIDE

EL PORTAL

MIAMI SHORES

EDGEWATER

DOWNTOWN

PORT OF MIAMI

MIAMI BEACH

BISCAYNE BLVD.BISCAYNE BLVD.

SUBJECTPROPERTY

PAG



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THE COMMISSARY


72 NW 79 STREET

Growing international connections have established Miami as a diverse and global city, which has benefited all facets of the economy. The local economy has improved significantly since the Great Recession. With over 250,000 jobs added since recession lows, employment growth has outperformed the national average for over five years and is expected to out pace the U.S. rate for most of the five-year forecast.

Recent move-ins from global tech giants like Uber, Expedia, and Twitter speak to Miami’s growing appeal as a diverse and creative hub for innovative firms and workers. In particular, Miami is attractive to global companies active in Spanish-speaking parts of the world. Univision, Telemundo, and UniMás, three of the largest Spanish-speaking cable networks in the U.S., have established large-scale operations in Miami. Growing appeal among multinational and tech firms has also helped Miami draw in more entrepreneurs and venture capitalists, making the city one of the top metropolitan areas in the country for startup activity.

International trade is a strong driver of Miami’s economy. Miami’s top trading partners are South America, Central America and the Caribbean. PortMiami and the Miami International Airport are the metro’s major hubs. Total trade by value through PortMiami ranks 12th among all containerized seaports in the U.S., and MIA ranks 5th among all airports, according to the county’s most recent international trade report. Also, the Port recently completed more than $1 billion dollars in infrastructure improvements including a deep dredging project which will allow access to larger, Post-Panamax size ships. It is expected that these improvements will help expand two-way trade with Asia via the Panama Canal.

Miami gets a significant amount of attention from foreign investors and sees over twice as much foreign investment as its neighbors Fort Lauderdale and Palm Beach. Between 2011 and 2017, the Miami metro had approximately $28 billion in commercial real estate transactions. Of that, 20%, or

$4.5 billion, was from foreign investors. The majority of investment comes from Europe, specifically German investors such as KanAm Group, which prefer to invest in office space. After Germany, the most investment comes from Latin America, which makes sense given their familiarity with the U.S. market. Canadian and Middle Eastern investors are most interested in the multifamily space, whereas Asian countries and Japan invest primarily in office.Latin American investors take a stronger interest in Miami than in most other major metros. Miami ranks second after New York City for Latin American investment in office space, and fifth for Latin American investment in retail space. Latin American investment equated to approximately $305 million in office space and $135 million in retail space in this seven-year period, with minimal investments in apartment or warehouse space.

The biggest industry sector in Miami is trade, transportation, and utilities, accounting for 25% of the metro’s jobs and adding 60,000 new jobs since 2010. While employment in Miami is traditionally driven by low wage industries in the trade, transportation, and utilities and leisure and hospitality sectors, employment growth is becoming more diverse. For example, job growth in business services and education and health services, two of the highest-paying sectors in Miami, have witnessed some of the strongest gains over the cycle, with total employment more than 15% above its prerecession peak. As a result of these factors, median household income growth is currently quite strong. The number of workers employed in construction has been rising over the last seven years, driven in part by the highest condo and apartment construction levels since before the recession. Even though we’ve been seeing positive growth within the construction industry, the metro has yet to hit its prerecession peak.

Household income for Miami, like in much of Florida, is well below the national average, and this gap is likely to remain as long as leisure and hospitality jobs dominate. That said, the positive rate of income growth along with low unemployment paint a positive picture for this metro in the near term.

Source: Costar, 2018.

AREA OVERVIEW

PAG



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THE COMMISSARY


72 NW 79 STREETCOMMERCIAL

PRESENTS

METRO 1


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