Marcus & Millichap (NYSE: MMI) recently revealed its exclusive listing of The Vine at 404-436 NE 35th Street in Miami. This 0.83-acre of land is currently unpriced, and offers are due on June 15. The property is a high-density development located between Biscayne Blvd and Biscayne Bay. It consists of 36,000 square feet of land in the T6-36 Zone of Miami 21 zoning, allowing for up to 124 residential or 248 hotel units. The property is assembled over six parcels, with two lots situated between the eastern edge of the property and Biscayne Bay.
“This is an excellent opportunity to acquire one of the last properties in Edgewater of size for development with water views,” Ryan T. Shaw says, first vice president of investments in Marcus & Millichap’s Miami office. “This location offers the ideal 10-minute walk to the Design District, Midtown and soon-to-open Whole Foods, making this the ideal project for walkability.”
The site is conveniently located adjacent to Interstate 195, providing easy access to freeways in all directions through connections with Interstate 95. It is situated in Miami’s desirable Edgewater submarket and adjacent to other sought-after submarkets such as Midtown Miami, the Design District, the Wynwood Arts District, Miami Beach and downtown. The asset is within one mile of the Shops at Midtown Miami, a premier shopping destination in the Midtown area that covers 645,000 square feet and features popular tenants such as Target, West Elm, Marshalls and HomeGoods.
Additionally, it is within a half-mile of the Miami Design District, which boasts luxury stores, including Givenchy, Louis Vuitton, Hermes and Cartier. With Miami Beach just across the bayfront and Downtown only five miles away, the property is in a prime location for accessing some of Miami’s top attractions, including the American Airlines Arena, Miami World Center and History Miami Museum.
Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion.