Description

Iconic South Beach Restaurant

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Attributes

NOI

CN¥9,845,000

Rentable area

1,194 m²

Number of units

WALT

11.6 years

GAIA - Miami Beach, FL (2 Properties)

One of the few trophy restaurant opportunities to be offered for sale within the prestigious Miami Beach “South of Fifth” micro-market
Two-tenant restaurant offering at the base of Marea, a boutique, 7-story condo building with 30 units at an average price of $2.3 million
GAIA, the flagship concept of Fundamental Hospitality, accepted the property with no tenant improvement allowances and dedicated ~$25 million for renovation
Confidential luxury tenant undergoing buildout while simultaneously executing a long-term renewal option to solidify their positioning in the Miami Beach market
Surrounding restaurants, such as Joe’s Stone Crab, Papi Steak, Prime 112, and Carbone are amongst the highest grossing in the nation