The Variety Building is a 5-story, 35,350 SF mixed use property comprised of 8,165 square feet of ground floor retail and 72 efficiency/studio sized apartments on the upper levels which can be converted to hotel usage, should the owner choose to take advantage of the existing hotel license. The property also includes 33 parking spaces. This is a highly recognized, landmark building, located on the corner of two major roadways in Miami Beach, across the street from Lincoln Road.The outlook remains bright for the City of Miami Beach. Within the last several years, many real estate developments have taken place with the addition of luxury hotels & condominiums and older art deco buildings being converted to condo ownership. Prices in the last year for converted residential condos surpassed $550 PSF, while retail along the Lincoln Road corridor trades well in excess of $2000 PSF. The City has become an international destination attracting the brightest and most talented professionals around the globe. Numerous Starchitects have created & are still creating world class structures such as the Herzog & De Meuron site at 1111 Lincoln Road, Frank Gehry' s New World Symphony, Enrique Norton' s 420 Lincoln Rd & 321 Ocean Drive, Rem Koolhass' Convention Center and many many more.Lincoln Road has rental rates exceeding $300PSF and buildings are trading up to $5000PSF.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
