Marcus & Millichap is pleased to present for sale the property located at 2516 Ponce De Leon Blvd | Coral Gables, FL | 33134. This urban high street retail strip center is comprised of Five Retail Bays amounting to approximately 6,096 Rentable Square Feet and has a lot size totaling 7,875 Square Feet. The property has been fully remodeled within the past year and had a new grease trap installed allowing for flexible restaurant tenancy.

Currently, all leases at the property are structured as Net Leases, and all tenants reimburse for their Pro Rata share of Taxes, Insurance, and Common Area Maintenance, minimizing the Landlords responsibility. The property is currently averaging $43.24 PSF and is collecting approximately $79,320 annually in expense reimbursements.

This property is situated in the heart of Coral Gables and is just two blocks North of the highly anticipated Plaza Development project by Agave Ponce, LLC, a subsidiary of Agave Holdings, LLC. The Plaza development features approximately 2.1 million square feet of mixed-use real estate and consists of a 4.5-star hotel, two office towers, dining, retail & entertainment space, approximately 170 residential rental units, and +/- 2,400 parking spaces. Additionally, the property is just one block South of Miracle Mile which recently underwent a massive renovation that was completed in 2018. Surrounded by such an array of major retailers and new developments, the property also benefits from being centrally located near Coconut Grove, Brickell, and Downtown Miami.