Metro 1 Commercial has listed a rare development site in Wynwood's South East Quadrant Portfolio for $16.4 million. Metro 1’s president/CEO Tony Cho and Vice President, Andres Nava have been retained to market the corner to corner assemblage that is composed of three separate parcels totaling 29,786 SF of buildings sitting on 39,600 SF of Land. The Maker Portfolio is located in the South East Quadrant of Wynwood’s core, between 21 ST, NW 1 AVE, and NW Miami Ct. The site is zoned T5-O NRD and allows a variety of uses as the current buildings could be adaptively repurposed into office and retail uses. The site also allows for up to an 8 story project and allows as of right 136 residential units or a 273 key hotel. It also allows for a building with a total of up to 285,120 of gross development SF.
“NW 2 Ave has been the core of Wynwood since its inception, making it one of the most successful retail corridors in Miami Dade.” “However, we are starting to see important projects such as hotels and elaborate adaptive re-use project being proposed in emerging areas of Wynwood such as the southern quadrant,” stated Tony Cho, CEO of Metro 1.
The South East Quadrant submarket of Wynwood is seeing a flurry of recent activity including the announcement of the mixed-use project Wynwood Square ( 2201 N Miami AVE), the groundbreaking of The Oasis retail and office project (2335 N Miami AVE), and the acquisition of the 2217 NW Miami CT site by Quadrum Global, which Metro 1 brokered late last year. The OMNI CRA also recently acquired a site at 2035 - 2043 North Miami Avenue which it is planning a mixed-use affordable housing and retail project. The current real estate market in Wynwood has been redefined after the passing of the updated NRD zoning which has expanded the possibilities of what can be developed in the neighborhood but still carefully works to retain its industrial themed character.