menesseinternational

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Miami,  Florida

Project

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Menesse Brickell

Menesse International is pleased to present the opportunity to invest in a unique transit-oriented core location in Miami’s financial district.

● located on 143 SW 9th Street between 2nd and 1st
SW Avenue, measuring a total of 30,000 SF.
● Existing units which provides income and
reduces risk while planning for development.
● Applied for Miami Dade County Rapid Transit Zone
(Density Increase to 400 units)
● Within walking distance to world-class dining, the premier shopping district of Brickell City Center, over 11 million square feet of Class A office space, and endless entertainment.

LAND AREA

30,000 SF

PARKING SPACES

400

BUILDING HEIGHT

39 stories

BUILDABLE RESIDENTIAL UNITS

400

LEASABLE / SALEABLE AREA

293,510 SF

ACQUISITION PRICE/ MARKET PRICE

$780 SF / $1,200 SF

LOCATION

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ZONING

Zoning
T6-24A-O

Stories
8 stories of parking and amenities. 30 stories of residential units

Parking
Authorities encourage shared parking for developments with mixed uses. Therefore, parking requirements may vary based on the scope and mix of uses in the proposed development. Menesse Brickell Development is located within a transit shed, which qualifies for a 30% parking reduction.

Height
Maximum height: 38 stories.

Lot Coverage
First 8 stories allow up to 80% lot coverage, above the 8th story a maximum of 11,900 SF floor plate is allowed.

Open Space
10% of net lot area

Sale of building as an ongoing business upon completion to an institutional buyer. For Class A assets, institutional investors will purchase on a pre-lease and/or post-lease cap rate in major market. Menesse Brickell I falls into this category and is a perfect fit for an institutional buyer to acquire the asset.

● Unit mix for multifamily building will consist of Studios, 1-Bedroom, 1-Bedrooms plus Den and 2-Bedroom units.
● The average leasable area of the units will be 725 square feet.
● The average rent price for 1 bedroom units in Brickell is $3,300 usd. This is a 50% increase since the previous year
● Alternative design for 346 studios for lodging of an average size of 535 SF
● REITs, institutional firms, and high networth investors accounted for 82% of sales
● In Average since 2017, 8,974 units per year are being build and 9,457 units are being absorbed = New units continue to be absorbed creating a limited vacancy
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