Miami Beach’s Lincoln Road Offers Rare Opportunity To Own Office Space
Lincoln Road Mall is known around the world as the premier shopping, dining, and entertainment destination in South Beach. But the pedestrian street is also home to several office buildings such as 605 Lincoln Road, also known as the former Sony Building. I recently began marketing the 5th floor of 605 Lincoln Road, which is listed at $5.47 million. The entire floor consists of 10,228 rentable square feet.
This listing offers a rare opportunity to own office space on one of the world’s most desirable addresses. The Real Deal recently wrote about my listing. The article is available here.
The fifth floor was renovated in 2005 and has been exceptionally maintained as the space is fully built-out with outstanding views of Lincoln Road and Pennsylvania Avenue. This property has undergone significant upgrades including impact windows, upgraded lighting and modernized systems.
The building offers an open floor plan, which allows for a range of uses and easy reconfiguration. High-profile 605 Lincoln Road provides professional curb appeal, ample parking, and excellent visibility. The current owner rents parking spaces from the city in adjacent lots. Compass and Starbucks are two of the building’s high-profile tenants.
With limited office inventory in an area with extremely high demand for office space, this property is positioned to be strongly sought after by both investors and owner-users alike. The space is ideal for a company that wants to have a presence in Miami Beach as an end-user or as an investor looking to invest in a well-established market.
The building is located on the corner of Pennsylvania Avenue and Lincoln Road and is part of the world famous Lincoln Road Mall, which is the most heavily traveled pedestrian street in Florida. It is also one of Miami Beach’s most popular tourist and local destinations due to the vast amount of retail, restaurants and entertainment. Lincoln Road is one of the most expensive retail corridors in the United States with rents among the highest in the world.
Adjacent to 605 Lincoln Road is a public parking garage with a combined 2,010 spaces. The building sits just blocks from the Miami Beach Convention Center, which is undergoing a $615 million renovation. The Convention Center will offer 505,000 square feet of exhibit space, a newly added 60,000 square foot ballroom, three 20,000 square foot glass rooftop junior ballrooms, 59,000 square feet of breakout meeting spaces, 806 on-site rooftop parking spaces and 12 acres of surrounding parks.
So far, my team has received inquires from all over the world. I anticipate this office space will go under contract soon.