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IPA Markets Two Properties on Miami Beach’s Lincoln Road
Marcus & Millichap’s Institutional Property Advisors division is marketing two retail properties on Lincoln Road in Miami Beach. These may be purchased together or separately; the price is open bid.
The properties include 222 Lincoln Rd., a vacant, 8,000-square-foot, two-story retail building; and 298 Lincoln Rd., a 4,000-square-foot plot of land subject to a 99-year ground lease that expires in June 2044.
“This offering is an extremely rare opportunity for an investor to control two highly-visible trophy properties in South Beach’s renowned Lincoln Road shopping district,” said IPA’s Drew A. Kristol. “Empty for the first time in many years and not subject to a ground lease, 222 Lincoln will give a new owner the opportunity to lease out three spaces at market rates. The property at 298 Lincoln is an ideal zero-management asset.”
Kristol, and his IPA colleague Kirk Olson, are representing the seller, a local private investor.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
