Development Site In Miami's Little River Neighborhood Trades For $13.3 Million

Little River has been a hotspot for investment and yet another significant transaction has as an undisclosed buyer acquired a development site for $13.3 million. The sale included 2.2 acres on NE 2nd Ave in the northern section of Little River, located at 8038 NE 2nd Ave. Gridline Properties’ Broker and Principal Alfredo Riascos represented the seller, Thomas Conway of Conway Commercial Real Estate. Tony Arellano of DWNTWN Realty represented the buyer. The buyer nor its plans were disclosed citing confidentiality.

“Developers are recognizing the growth and the emergence of strong fundamentals, finding opportunities to appeal to the creatives and curators in Miami that are in search of the unique neighborhoods and experiences that Little River offers,” said Riascos.

Creative neighborhoods like Little River have been the focus of a lot of attention and recent capital inflows. DWNTWN Realty Advisors and Gridline Properties worked together seamlessly on a complex transaction that will have a positive impact on Miami and the Little River neighborhood. Population and job growth are fueling the demand for housing and neighborhoods as the City of Miami continues to grow. Despite the economic headwinds, Miami seems to be positioning itself as a safe haven for capital investments and quality of life upgrades for employers and individuals.

Conway recently sold the neighboring Ebb & Flow retail strip center comprised of two buildings on two lots for $18.15 million in July 2022. Riascos represented Conway in the Ebb & Flow transaction as well. The all-cash deal marked one of the largest single transactions in Little River for value-add creative retail.

“In recent months, the Northeast Second Avenue corridor of Little River has received remarkable attention from investors and developers seeking to capitalize on the emerging retail and development taking place between 79th and 84th Street," said Riascos. “This property may be one of the last remaining sites that offers institutional size and scale for future development along NE 2nd avenue. We are excited to be part of the tremendous growth and continued success of Little River.”

A hub for re-adapted industrial buildings, Little River has attracted an array of creative and design-oriented businesses that have identified the surrounding neighborhood as one of Miami’s most up-and-coming districts. It is home to a wide variety of businesses, tenants, and owners that have transformed one of Miami's oldest industrial areas into a neighborhood that promotes creativity, design, and innovation.

Gridline Properties Represents Seller And Buyer In Sale Of Ebb & Flow Retail Strip Center In Miami's Little River District

Ebb & Flow, a retail strip center in Miami’s Little River District, has sold for $18.15 million, marking one of the largest sales in the neighborhood, testifying to the areas growth the progress. Ebb & Flow is a unique retail strip center comprised of two buildings on two lots measuring 32,000 square feet and 81,224 square feet. The property closed on July 22 for $18.15 million and is located at 8200 NE 2nd Ave., and 201 NE 82nd St., Miami, FL 33138.

Both sides of the all-cash transaction were overseen by Gridline Properties Broker and Principal Alfredo Riascos. The seller was Thomas Conway of River Esquinas, LLC, and the buyer was Doug Levine, founder of Crunch Fitness and CEO of commercial real estate development firm Big Move Properties. Prior to the successful sale, Gridline Properties assisted the seller with leasing its retail spaces ensuring the property for future success.

The Ebb & Flow property sits in the heart of Little River’s Uptown District, one of Miami’s most exciting and emerging neighborhoods. The strip houses Primal Fit, Eyebrow King, La Santa Taqueria, Salon Dahlia, Tran An Vietnamese Eatery, and Off Site Nano-brewery & Kitchen—exciting tenants that have received culinary, fitness, and beauty recognitions. Additionally, the T6-8-O zoning for the property allows for the future development of 280 residential units offering the possibility of developing a mixed-use space.

“We are excited to be involved with transactions that continue to drive progress and innovation to Little River’s Uptown District, one of Miami’s most exciting neighborhoods," said Riascos. “Representing both the seller and buyer in this large of a sale proves to be as satisfactory as it is complex—yet both parties come out on top to serve this thriving community that we are honored to be a part of.”

A hub for re-adapted industrial buildings, the Little River Business District has attracted an array of creative and design-oriented businesses that have spontaneously identified the surrounding neighborhood as one of Miami’s most up-and-coming districts. It is home to a wide variety of businesses, tenants, and owners that have transformed one of Miami's oldest industrial areas into a neighborhood that promotes creativity, design, and innovation.