Miami Beach Commercial Property Sells for $10.5 Million

3100-3104 NE 9th St sold for $10.5 million to an undisclosed buyer with the help of brokers.

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Miami Beach Commercial Property Sells for $10.5 Million

Miami Beach’s commercial real estate market continues to thrive as 3100-3104 NE 9th St sells for 10.5 million. The property, which was previously owned by a local development company, boasts a total square footage of 20,000 and a price per square foot of 525. The undisclosed buyer, represented by a team of brokers, saw the potential in the property’s prime location and diverse tenant mix. The property is currently home to a mix of retail and office tenants, including a popular restaurant and a law firm.

The seller, who had owned the property for several years, was pleased with the sale price and the ease of the transaction. The buyer, who has not yet been identified, is expected to make some updates to the property to attract even more tenants and increase its value.

The brokers involved in the deal were instrumental in bringing the buyer and seller together and negotiating a fair price. Their expertise in the Miami Beach commercial real estate market was invaluable in ensuring a smooth transaction for both parties.

This sale is just one example of the strong demand for commercial properties in Miami Beach. With its prime location and vibrant business community, the city continues to attract investors and businesses alike. As the market remains strong, we can expect to see more deals like this in the future.