Description
The subject property consists of a +/-6,000 SF building on a 10,500 SF combined lot. The two contiguous parcels, 170 NW 24 St & 165 NW 23 St, provide dual frontage on two of Wynwood's highly activated streets. Demised into 3 fully entitled restaurant spaces. The estimated 4.73% cap in year one is grounded on F&B rental rates now being achieved in the Wynwood sub-market. Given both the lot size and current positioning, this opportunity is well suited for investor & developer alike as a covered land benefiting from an income producing property with mid-term upside. Located adjacent to 1-800-Lucky, one half block east of Panther Coffee & directly across the street from the site of PMG's Society Wynwood.
School Ratings & Info
Description
The subject property consists of a +/-6,000 SF building on a 10,500 SF combined lot. The two contiguous parcels, 170 NW 24 St & 165 NW 23 St, provide dual frontage on two of Wynwood's highly activated streets. Demised into 3 fully entitled restaurant spaces. The estimated 4.73% cap in year one is grounded on F&B rental rates now being achieved in the Wynwood sub-market. Given both the lot size and current positioning, this opportunity is well suited for investor & developer alike as a covered land benefiting from an income producing property with mid-term upside. Located adjacent to 1-800-Lucky, one half block east of Panther Coffee & directly across the street from the site of PMG's Society Wynwood.
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