Agustin Duarte 305.450.5992
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“ Allapattah” (West of Wynwood)

 

“ Allapattah” (West of Wynwood) which is well underway of a gentrification and revitalization.This “Allapattah” area is best known for some of the finest medical facilities in the United States. Institutions such as the Bascom Palmer Eye Institute, the Ryder Trauma Center, Cedars ofLebanon Hospital, and the Veterans Administration attract patients and distinguished physiciansfrom around the world. The 20th Street Merchant’s Corridor, between 27th and 17th Avenues, is now famous for its multiple garment manufacturing and wholesale outlets driving Domestic and International Buyers and Exporters. Nearby, the Produce Market, the largest open-air food distribution center in Miami, serves local supermarkets and “bodegas” with the freshest variety of South Florida produce, tropical fruits and many other products.The NW 36th Street corridor provides a very strong daily traffic count of over +/- 50,000 cars daily. The largest industrial area of the city is located in Allapattah including a mix of: automotive services, auto dealers, gas stations, auto aftermarket, food stores, banks, savings & lending institutions encompassing highest commercial uses. Additionally, other trades within this area comprise of a wide range of services such as the following: clothing manufactures, auto repair shops, paint and body shops, carpentry and upholstery shops. There are also several shipyards and dry docks located along the banks of the Miami River which surrounds the Allapattah area. Allapattah is the last undeveloped urban core neighborhood in Miami. It is compared to Wynwood 10 years ago that has since seen an astronomical valuation in CRE value which is the primary driving force to Allapattah and sustaining the ongoing gentrification. To illustrate, Allapattah CRE was fetching $30-35/SF less than 2 years ago and has climbed to $60-$90/SF in recent closings with the same upwards progression to come. In comparison to Wynwood who saw the same aggressive valuation, we’re seeing recent closed sales at just under $1K/SF in just 10 years, and I’d estimate Allapattah as being in year 3-4 of its cycle which underlines the tremendous value/upside of the proposed site.

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  • Agustin Duarte , Commercial Agent,CCIM
  • RE/MAX 360 Real Estate
  • 305.450.5992 305.602.0360 305.574.7885
  • 4217 Ponce De Leon 2nd Floor Coral Gables, FL 33146
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