Amara at Paraiso - Miami, FL_Property for Sale
Amara at Paraiso - Miami, FL_Property for Sale
3101 NE 7th Ave, Miami, FL, 33137, US

Amara at Paraiso - Miami, FL

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer the opportunity to acquire Amara at Paraiso (the “Offering”, “Property”, or “Amara”), Miami’s quintessential waterfront dining experience featuring bold Latin American flavors and coastal ingredients. The Asset has approximately 15 years of remaining lease term with minimal landlord responsibilities as well as forty reserved parking spaces for their valet services - contributing a substantial revenue stream for the owner Amara at Paraiso.


Amara at Paraiso lies on a prime waterfront retail parcel within the trending Edgewater neighborhood north of Downtown Miami. Amara at Paraiso provides guests with a unique, inviting dining experience curtesy of the James Beard Award-winning Chef and restaurateur, Michael Schwartz. The tenant recently filled the existing second floor pool to allow for more space when hosting special events, which are primarily corporate events, proposals, and weddings. This new service creates significant revenue growth potential for the Property and future ownership. Most importantly, Amara at Paraiso is the only free-standing waterfront retail property in the market. Edgewater has emerged as a new hotspot in Miami due to its pipeline of commercial, residential, and cultural developments. The Asset is walking distance to major demand drivers such as the Wynwood, home of globally renowned art museum known as the Wynwood Walls, and the Design District, which is home to 170 flagship designer retail stores as well as four Michelin Star and four Bib Gourmand award restaurant recipients.


Amara at Paraiso represents a truly generational opportunity to acquire a market dominant, trophy restaurant asset of scale in Miami’s thriving Edgewater submarkets with durable in-place cash flow and a high rent-to-sales ratio.


*Operating Business is Not For Sale


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Attributes

Building area Gross
1,144 m²
Occupancy
100.00%
Year built
2017
NOI
€992,000

Media

Investment Highlights


  • Property Features: Events Venue & 24 Valet Parking Spaces contribute additional revenue
  • Luxurious, Tranquil Edgewater Neighborhood
  • Rare, waterfront retail space
  • 1500+ Multi-Family units under construction
  • Home of Mimo on Bibo, the Miami modernist architecture on Biscayne Boulevard
  • Over 14,000 residents
  • $950,000-$1,000,000 Average condo Sale Price/Unit
  • 9.4% Average YOY Apartment rent growth
  • Developing into an Urban Sanctuary
  • Superior connectivity to Downtown, Brickell, Design District, Wynwood, and Miami Beach
Amara at Paraiso - Miami, FL 4_Property for Sale

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Last updated
13 Sep 2023