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1900 NE Miami Ct - The Wynwood Sky Office Building
43,559 SF Office Condo Unit Offered at $27,950,000 in Miami, FL 33132
Investment Highlights
- Rent Potential: Under-market rents with significant upside potential for future escalations.
- Investment Stability: Features a strong weighted average lease term (WALT), ensuring long-term profitability.
- Investment Appeal: A rare opportunity to acquire a high-yield asset in a dynamic and expanding market.
- Market Area: Located in one of Miami’s fastest-growing areas, renowned for attracting tech and creative sectors.
- Core infill location at the intersection of Wynwood and Edgewater on North Miami Avenue.
Executive Summary
At the crossroads of Wynwood and Edgewater, the Wynwood Sky Building at 1900 NE Miami Court presents an exceptional opportunity to acquire its second and third floors. This trophy boutique office building encapsulates the artistic flair and bold spirit of Wynwood, offering modern loft-style offices adorned with glass partitions, LED lighting, and striking exposed brick walls. The expansive open floor plans and lofty ceilings range from 1,326 to 9,588 square feet, customizable to suit various business needs. Tenants benefit from convenient on-site parking and valet options, enhancing accessibility in this bustling neighborhood. Notable tenants include Supply Caddy, Monster Energy, Z9 Capital, and Building Drops Engineers. Positioned along North Miami Avenue, a main artery of Wynwood, the building provides unparalleled visibility and smooth access to many renowned dining spots and amenities such as Kush, Novela Café, and Sushi Monkey.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $27,950,000 | Floors | 4 |
| Unit Size | 43,559 SF | Typical Floor Size | 20,070 SF |
| No. Units | 1 | Year Built | 2023 |
| Total Building Size | 74,497 SF | Lot Size | 0.99 AC |
| Property Type | Office (Condo) | Parking Ratio | 0.44/1,000 SF |
| Sale Type | Investment | Opportunity Zone |
Yes
|
| Building Class | B |
| Price | $27,950,000 |
| Unit Size | 43,559 SF |
| No. Units | 1 |
| Total Building Size | 74,497 SF |
| Property Type | Office (Condo) |
| Sale Type | Investment |
| Building Class | B |
| Floors | 4 |
| Typical Floor Size | 20,070 SF |
| Year Built | 2023 |
| Lot Size | 0.99 AC |
| Parking Ratio | 0.44/1,000 SF |
| Opportunity Zone |
Yes |
1 Unit Available
Unit 2 & 3
| Unit Size | 43,559 SF | Sale Type | Investment |
| Price | $27,950,000 | Cap Rate | 7.06% |
| Price Per SF | $641.66 | NOI | $1,973,270 |
| Condo Use | Office |
| Unit Size | 43,559 SF |
| Price | $27,950,000 |
| Price Per SF | $641.66 |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 7.06% |
| NOI | $1,973,270 |
Description
At the crossroads of Wynwood and Edgewater, the Wynwood Sky Building at 1900 NE Miami Court presents an exceptional opportunity to acquire its second and third floors. This trophy boutique office building encapsulates the artistic flair and bold spirit of Wynwood, offering modern loft-style offices adorned with glass partitions, LED lighting, and striking exposed brick walls. The expansive open floor plans and lofty ceilings range from 1,326 to 9,588 square feet, customizable to suit various business needs. Tenants benefit from convenient on-site parking and valet options, enhancing accessibility in this bustling neighborhood. Notable tenants include Supply Caddy, Monster Energy, Z9 Capital, and Building Drops Engineers. Positioned along North Miami Avenue, a main artery of Wynwood, the building provides unparalleled visibility and smooth access to many renowned dining spots and amenities such as Kush, Novela Café, and Sushi Monkey.
Sale Notes
DWNTWN Realty Advisors has been exclusively retained to sell the Wynwood Sky Building, a Class A creative office space located in Miami's dynamic Wynwood district. This fully stabilized property includes the two upper floors of a three-story mixed-use building, encompassing 43,559 square feet of prime office space, and boasts a robust tenant roster including Aroma 360 and Monster Energy. It offers a 7.06% cap rate, presenting an attractive yield in today's market with considerable upside potential through future rent escalations. The property benefits from under-market rents, providing a substantial opportunity for rent growth aligned with the ongoing development and demand in one of Miami’s fastest-growing areas. With a strong weighted average lease term (WALT), this investment ensures long-term stability and profitability for prospective investors. Miami's Wynwood district is nationally recognized as a top submarket for tech and creative sectors, making this property a strategic asset amidst one of the great American urban growth narratives. This offering represents a rare chance to acquire a high-yield, well-positioned asset in a market poised for continued expansion and economic vibrancy.
+12 More
Office Space #211
Hallways 2nd Floor
Kitchen #209
Office Space #207
Office Space #210
Elevators on 3rd Floor
Office Space #215
Office Space #208
Office Space #310
Office Space #208
Office Space #208
Kitchen #208
Kitchen #212
Office Space #208
Elevators on 2nd Floor
Office Space #207
Office Space #215
DEMOGRAPHICS
Demographics
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Paradis | Cafe | $ | 3 min walk |
| Mignonette | Seafood | $$$ | 7 min walk |
| Ono Poke Shop | Seafood | $ | 8 min walk |
| Daily Creative Food | American | $$$ | 8 min walk |
| Don Deo | Grill | $$$ | 8 min walk |
| Sake Room | Sushi | $$ | 8 min walk |
Retail |
||
|---|---|---|
| CrossFit Yellow Falcon | Fitness | 4 min walk |
| The UPS Store | Business/Copy/Postal Services | 8 min walk |
| AT&T Wireless | Wireless Communications | 8 min walk |
| Budget Ace Hardware | Hardware | 9 min walk |
| Publix | Supermarket | 9 min walk |
| My Salon Suite | Salon/Barber/Spa | 13 min walk |
Hotels |
|
|---|---|
| JW Marriott |
296 rooms
7 min drive
|
zoning
| Zoning Code | T6-8-O (Commercial - Neighborhood) |
| T6-8-O (Commercial - Neighborhood) |
Sale Advisors
Sale Advisors
Tony Arellano, Co-Founder & Managing Partner
To date, Tony has completed over a billion dollars in total lease and sale transactions within the greater downtown Miami submarket, including over 450 commercial real estate lease and sales transactions throughout his career.
Prior to co-founding DWTNWN Realty Advisors, he served as the Executive Vice President of a local commercial real estate firm for over 11 years leading the firm's brokerage efforts.
In 2016, Tony served as President of CIASF, the largest local Real Estate organization, with a focus on data-centric events. Additionally, he is the author of specialized neighborhood annual market reports such as the Wynwood Market Report and the Urban Market Report.
He has been named for the Commercial Observer Power 100 as one of Commercial Real Estate’s Most Powerful Players. He and co-founder Devlin Marinoff have also been named for the Commercial Observer Power 30 List for South Florida.
Tony is a graduate of Florida International University with a BS in Business Administration.
Devlin Marinoff, Co-Founder & Managing Director
Devlin began his real estate career in New York City at Penn Capital Realty as a commercial sales broker, where he effectuated over $700 million in transactions. His experience extended over many asset classes that included hospitality sales and development, multi-family conversions, office buildings, retail centers, and industrial properties.
A native of New York, Devlin relocated to South Florida in 2008 and proceeded to found Whitehall Realty Group, a boutique investment and sales firm located in the heart of Miami. As the Managing Director of Whitehall, Devlin developed the firm into one of the top commercial brokerages in the sale of investment-grade properties. Over the course of 9 years, he led his team to unprecedented success, including being named a CoStar Power Broker in 2016 for Commercial Real Estate Investment Sales.
In 2018, Devlin collaborated with commercial real estate expert, Tony Arellano, to found DWNTWN Realty Advisors, a commercial real estate brokerage firm focused on leasing, investment sales, creative, and advisory services for emerging urban core markets where “Density is DWNTWN’s Destiny”.
He and co-founder Tony Arellano have also been named for the Commercial Observer Power 30 List for South Florida.
Devlin holds a Bachelor’s Degree in Business Administration from the University of Arizona.
-
Tony Arellano -
Devlin Marinoff -
DWNTWN Realty Advisors
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1900 NE Miami Ct - The Wynwood Sky Office Building
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