3306 Ponce De Leon Rd Coral Gables, FL 33134

Property Details for 3306 Ponce De Leon Rd

Year built

1925

Property size

12,317 SF

Property type

Retail properties

Property subtype

Office Properties & Spaces

Description

This exceptional mixed-use property, located at 3306-3310 Ponce De Leon Boulevard in Coral Gables, Florida, offers a unique investment opportunity for owner-users. The 12,317 square foot building, constructed in 1925 and renovated in 2022, features meticulously restored Old Florida Mediterranean architecture with nearly 100 feet of frontage on Ponce De Leon Boulevard. The ground floor is occupied by a renowned bridal store under a long-term lease, providing stable income. The second floor, encompassing approximately 5,400 square feet, is largely vacant, presenting a prime opportunity for a new owner to occupy, develop, or re-tenant. The property boasts a Class B designation, two stories, and four parking spaces. The current occupancy rate is 60.13%, with two tenants. The asking price is $7,258,550, translating to $589.31 per square foot of net rentable space (11,167 sq ft). The property is zoned CB, Coral Gables, and benefits from a 2% annual rent bump. Its prime location in Coral Gables offers excellent accessibility and proximity to major thoroughfares, including Bird Road and S Dixie Highway, as well as the Village of Merrick Park. This vibrant area features numerous amenities and is known for its low vacancy rates, strong positive absorption, and escalating rental rates, making it an ideal location for businesses seeking to establish a presence or headquarters in a high-performing South Florida commercial real estate market. The property is offered fee simple.