“Le Jeune Station” site represents unique opportunity to control 10 parcels encompassing nearly an entire city block in Miami

Miami – Avison Young’s Florida Capital Markets Group has been exclusively tapped to sell Le Jeune Station, a ±2.79-acre development site encompassing nearly an entire city block near the LeJeune Road and N.W. 7th Street intersection in Miami. The site’s 10-parcel footprint at 4238-4276 N.W. 7th St. offers an attractive mixed-use development opportunity with a zoning mix allowing a total as-of-right density of ±260 units. A successfully up-zoned project could boast ±300 residential units and more than 625,000 square feet.

Avison Young Principals Michael T. Fay, who is also Managing Director of the firm’s Miami operations; John K. Crotty, CCIM; David Duckworth; Vice President Brian C. de la Fé; and Associates Emily Brais and Berkley Bloodworth will lead the sale on behalf of Ocean Bank.

“Spanning from Miami International Airport to the north and Coral Gables to the south, the Le Jeune Corridor is one of South Florida’s hottest mixed-use development locations experiencing demand from a growing population and flag-planting corporations,” said Fay. “Le Jeune Station represents an extremely rare opportunity to control almost an entire city block in Miami with generous zoning to construct a placemaking, area-defining project with distinctive residential, retail, and office components.”

Ideally positioned near major office submarkets such as Brickell, Blue Lagoon, and Coral Gables, Le Jeune Station boasts high visibility with the Le Jeune Road and N.W. 7th Street intersection seeing more than 85,000 passing vehicles on an average day. Also, with Downtown Miami, Wynwood, and South Beach accessible within minutes, the property is perfectly central to the best of what Miami has to offer.

In 2019, Miami saw a total office sales volume of $1.01 billion, and 44.5% of all office investment sales were to institutional investors, indicating strong investor confidence in the market. Vacancy rates across property types are among the lowest in the U.S. with office at 6%, retail at 1.8%, and multifamily at 3.8%.