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1390 on the River 1390 NW 14th Ave

15,563 SF 100% Leased Office Building Miami, FL 33125 $7,963,200 CAD ($512 CAD/SF) 7.23% Cap Rate

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Investment Highlights

Stable Investment: Features a long-term lease agreement with the county, providing a secure cash flow.
Strategic Positioning: Located near the intersection of NW 14th Avenue and NW 13th Terrace, just north of the Dolphin Expressway.
Access and Proximity: Close to major highways, with easy access to Wynwood, Downtown Miami, Brickell, Edgewater, South Beach, LoanDepot Park, and MIA

Recent Developments: Underwent significant renovations, reaching full occupancy in 2017. The county recently renewed their lease at market rates.
Adjacent Developments: One block north of River Landing, a new luxury mixed-use project encompassing 2 million SF of retail and residential space

Executive Summary

Colliers is pleased to present the opportunity to acquire 1390 on the River, a boutique office building located at 1390 NW 14th Avenue, Miami, FL. The property offers outstanding upside potential and is located in the second largest medical district in the United States. The property was renovated and fully leased up in 2017. Ninety percent of the leases expire in the third quarter of 2023, which allows a potential purchaser to raise rents to market rate or an owner/user to occupy the space.