Coconut Grove has been the talk of the town because of its revival within the past few years with projects like Grove at Grand Bay and Park Grove, and as a result, a 1.35-acre assemblage of prime center Grove land that just hit the market for $40M.
The 1.35-acre assemblage is located at 3101 and 3131 Grand Avenue and includes 6 parcels that break down to 4 single-family home lots and 2 commercial lots, according to TRD. Currently, the property is occupied by Kwik Stop food store, Subway, a dry cleaners, UPS store and Sapore di Mare, a seafood restaurant, along with single-family homes on the backside of the block on Florida Avenue.
This land, located only a block from CocoWalk, is like gold in Coconut Grove and is a very rare opportunity for an investor to find this much acreage together in the center neighborhood of the Grove.
The retail market overall in Coconut Grove is thriving, just look at the retail building directly across from CocoWalk at 3034 Grand Avenue that just sold to a Chicago-based investment firm, L3 Capital for $23M. L3 Capital plans to re-tenant this property to add to the prospering of the Grove.