Property Description
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1861 NE 163rd St
1861 NE 163rd St
1854 NE 164th ST medical offices
1854 NE 164th ST
north miami beach assemblage redevelopment
| Address | Owner Name | Building | Lot Size | Comps | Adj Area Sq.Ft | Lot Size Sq.Ft | Last Sold | |||||||||
| 1854 NE 164th ST | MAR- GUR 36 LLC | 4806 | 14000 | 2151 NE 163 ST | 24,958 | 25,792 | Feb-19 | $10,270,000 | Qual on DOS, multi-parcel sale | |||||||
| 1869 NE 163 ST | MAR- GUR 36 LLC | 5629 | 13160 | 1800 NE 168 ST | 49,313 | 57,703 | Jun-19 | $8,000,000 | Religious, charitable or benevolent organization | |||||||
| 1861 NE 163 st | MAR- GUR 36 LLC | 2494 | 7840 | 2020 NE 163 ST | 31,145 | 58,500 | Dec-19 | $6,000,000 | Qual by exam of deed | |||||||
| 12929 | 35000 | 1755 NE 164 ST | 33,894 | 21,000 | Mar-19 | $4,900,000 | Qual by exam of deed | |||||||||
| 1875 NE 167 ST | 9,389 | 25,707 | Jun-19 | $2,350,000 | Qual by exam of deed | |||||||||||
Perfect investment opportunity and converted-land play in one of the most development-opportunity rich areas in Miami. The parcel of three buildings is within close proximity to a number of approved multi-story, mixed use high-rise developments. Current income ($125,000.00 net operating income) is from the three buildings which are fully leased at below market rents with 1-3 year terms remaining on leases. Proforma net income is $260,000.00. Mixed Use (MU) District Zoning.
Immediately east of this assemblage developer Celal Ozkan’s project, “Skygarden,” will consist of a 341-unit multifamily building with 12,635 square feet of retail and 405 parking spaces. Skygarden units will range from 593 square feet to 991 square feet. Furthermore, monthly rents will range from $2,100 to $2,750. An affiliate co-owned by Ozkan paid $5.2 million for the 37,500-square-foot lot at 16300 Northeast 19th Avenue in November 2020.
In the summer of 2021, the City of North Miami Beach granted the approval for the construction of Canal Park West Tower, a 10-story office building planned to rise in the Eastern Shores district along the canal connected to Maule Lake. The development of a 167-foot-tall glass-covered structure yielding 237,483 square feet of office space on a 90,000-square-foot, 2-acre parcel of land. The proposed boat dock and walkway behind the structure should have nearly 300-feet of frontage along the waterway.
In early 2021 Michael and Gil Dezer get the final piece of the Intracostal Mall assemblage with the purchase of the 3 story office property from ASA College. Dezers are to replace the one-story, 234,000-square-foot Intracoastal Mall and the three-story Asa College office building with a development of more than 2 million square feet. Plans include 35-foot tall townhouses, 85-foot tall apartment buildings, and high-rises ranging between 160 feet to 495 feet in height. The amended code will also allow Dezer Development to build a 250-room hotel. the planning and zoning board also approved a 30-year-development agreement with Dezer Development for the project that will include 2,000 residential units, 375,000 square feet of retail, 200,000 square feet of office, the 250-room hotel, and a new canal.
