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FA Commercial represented Local Investment group in the purchase of Coconut Grove Strip Mall
Strategically located North of Coconut Grove this new project has Jimmy John' s Gourmet Sandwiches & 7-Eleven as co-tenants.
By: FA Commercial, Fortune International Realty
The property has a convenient parking lot in the rear offering parking for all its visitors. Bays range in size from 1,100 sf to 1,500 sf and offer direct storefront visibility to 27th Avenue. Retail tenants will enjoy the ample outdoors and patio areas, ideal for their customers to enjoy Miami’s perfect weather in every visit.
Mizzen Plaza is part of the proposed underline linear park, and adjacent to a planned 184-unit apartment complex. Visible from US1 & 27th Ave, it is conveniently located directly across from the Coconut Grove Metrorail stop.
The closeness of Mizzen Plaza to the rail station made it a profitable investment, considering that County records show that proximity to Metrorail increases property values by 7-9%. “Metrorail stations make the surrounding land much easier to access, increasing its value. My clients were looking for income-producing real estate and received an $80,000 leasing credit for a vacant store in the building. Also, they were looking for a nice cap of 6.25%, which is very good for this market,” said Fabio Faerman.
In accordance with a global mentality, Fabio Faerman and his team at Fortune International/
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Page Updated Last on: May 15, 2015