Downtown South Miami Full City Block
5900 Sunset Drive
- 59,815 Square Feet
- Land Retail Office Healthcare-Medical Commercial-Specialty
- For Sale
Colliers International is pleased to exclusively offer for sale 5900 Sunset Drive, a full city block in Downtown South Miami consisting of seven retail buildings. The buildings have historically operated at 100% occupancy, with the tenants operating from their locations between 10 and 30 years. The property has 26,650 SF of leasable area and sits on a 59,815 SF lot, which per current zoning, allows up to 94,000 SF of leasable area. Every lease except one has a demolition clause, which is triggered upon a demolition, a sale, a lease, or a remodel.
The property is located in Downtown South Miami, which is walking distance to the University of Miami, Sunset Place Mall, South Miami Hospital, and the South Miami Metrorail station. Furthermore, the property spans from the lighted intersection of U.S. 1 and Sunset Drive (Downtown South Miami’s main street) to the lighted intersection of U.S. 1 and SW 73rd Street. This affords the property 300 linear feet of frontage along U.S. 1, which benefits from traffic counts of more than 140,000 vehicles per day.
The northeast side of the property faces Downtown South Miami’s main pedestrian street, Sunset Drive, and is the beginning of a half-mile stretch of walkable street retail along the city’s streetscape-style, 15-foot-wide sidewalks. The east side of the property faces Dorn Avenue, of which the full brick sidewalk has been expanded to 25 feet to allow for patio dining in all the restaurants located on the avenue and an inviting, pedestrian experience to all who walk near 5900 Sunset Drive.
Lot Size: 59,815 Square Feet
Building Size: 26,000 Square Feet
Area Available: 59,815 Square Feet
- Historically 100% occupied, with tenants having occupied property between 10 and 30 years.
- Located in Downtown South Miami - Walking distance to University of Miami, Sunset Place Mall, South Miami Hospital, and the South Miami Metrorail Station
- All tenants under net leases with 3-5% annual increases
- Significantly under market rents, immediate upside through turning over spaces and re-leasing
- Demolition clauses in all leases
- Over 160,000 cars daily travel the site
- 94,000 SF of buildable SF