BROADWAY ART DISTRICT

The Porosoff Group of Compass Commercial is proud to present The Broadway Arts District Portfolio.​ The offering includes 39 commercial-zoned parcels along NW 18th Ave.​ The parcels include 18 buildings that are used as commercial buildings or residential with the remaining parcels scattered among the buildings along 18th Avenue.​ Additionally, the entire portfolio sits in an opportunity zone.​

The Broadway Arts District Portfolio presents a unique opportunity.​ Along the 18th Ave business corridor, this portfolio represents the largest building and land ownership.​ An investor would be responsible for rehabbing existing buildings to market standards as well as working to assemble other land parcels for future development.​ Currently, there are over 1,500 brand-new residences coming to market over the next few years within blocks of the subject properties.​ This includes the New Liberty Square and Residences at Dr.​ King Boulevard showing the demand and changing landscape of the market.​ Additionally, the residential market is seeing all-time highs with new construction as well as renovated houses coming on the market.​

Opportunity zones are economically distressed communities where new investments may be eligible for preferential tax treatment under certain conditions.​ Opportunity zones were added to the tax code by the Tax Cuts and Jobs Act on December 22, 2017.​ Opportunity zones have spurred economic development and job creation in distressed communities and Liberty City is no exception.​

The Liberty City submarket is the northwest section of the City of Miami, just west of Interstate 95, spanning from Northwest 54th Street to Northwest 79th Street.​ The Broadway Arts District is within walking distance of public transportation, schools, public parks, and a hospital.​ The North Shore Medical Center is minutes away from the property.​ Moreover, The Broadway Arts District is 3 blocks from the first and largest mixed-income project in Miami-Dade called New Liberty Square Apartments.​ The $300 million projects incorporates public, affordable, workforce, and market-rate units.​ This 1,455 unit project will be completed is 2023 and will include a Publix supermarket and retail stores.​ The first phase with 204 units has already been delivered with the next phase not far behind.​