Discover THE MAYLAY
A Premier Mixed Use Development in Key Biscayne
Explore the potential of The Maylay, a shovel-ready project poised to redefine commercial space in Key Biscayne.
Project Overview
The Maylay Key Biscayne: A Synopsis
The Maylay, located at the gateway of Key Biscayne, offers 41,098 square feet of mixed-use leasable area, with 25,581 square feet of under air and 15,517 square feet dedicated to a rooftop recreation facility. This prime property supports dual-use for retail and office spaces on the first two levels, while the rooftop will feature a net-leased paddle tennis court. Situated at 12 & 22-24 Crandon Blvd, it stands as the most visible commercial site on the island, ensuring high traffic and premium exposure.
Strategic Location
Positioned at the gateway to Key Biscayne, The Maylay is the prime business location that captures the attention of every visitor and resident. Visibility is unmatched, ensuring maximum exposure for any business situated within.
Unparalleled Accessibility
The Maylay’s location at 12 & 22-24 Crandon Blvd is a critical pass-through for anyone entering or leaving Key Biscayne, making it a focal point for commercial activity.
High Traffic Volume
The strategic positioning along the main thoroughfare ensures continuous high traffic, essential for businesses aiming for high visibility and accessibility on the island of Key Biscayne. The average annual daily traffic (AADT) is 29,000 vehicles.
Local Market Insights
Economic and Demographic Overview of Key Biscayne
Key Biscayne Market Overview
Key Biscayne stands out with its affluent market characteristics, scarce supply of commercial real estate, and extreme barriers to entry. The market is best summarized as one with ultra high net worth residents and luxury tourism visitors.
Population
Average Household Income
Annual Hotel Room Nights
Unmatched Market Potential
A Lucrative Investment Opportunity
Approved Plans Overview
The Future of Key Biscayne Commercial Real Estate is The Maylay
The Maylay, poised at the gateway to Key Biscayne, is set to redefine commercial spaces on the island with it’s innovative and beautiful design. This mixed use development will feature expansive retail and office spaces across two floors, topped with a recreational rooftop destined for net-leased paddle tennis courts. The architectural design provides 17 foot high floor to ceiling glass, ensuring a spacious and inviting environment for tenants and guests. The Maylay’s location guarantees high visibility and traffic, making it the cornerstone location for business in Key Biscayne.
Approved Plans
Unmatched Market Potential
A Lucrative Investment Opportunity
The Maylay represents a remarkable investment opportunity in a market with limited commercial real estate availability. Key Biscayne’s high-income demographics and the property’s prime location will generate a continuous and robust demand. The scarcity of new developments on the island, coupled with the high barriers to entry, position The Maylay as a potentially last-of-its-kind project for the foreseeable future. This unique situation presents a significant market opportunity for discerning investors looking to capitalize on high rental and sales rates driven by the affluent local community, substantial daily traffic, and luxury tourists visiting Key Biscayne.
DATED EXISTING INVENTORY
The last office / retail building constructed on the island was 14 years ago in 2010. The existing stock of commercial buildings has an average construction date of 1985.
LIMITED AND GEOGRAPHICALLY CONSTRAINED SUPPLY
Due to very high per square foot rental and sales rates, along with almost no vacancy, there are no good candidates for redevelopment in this market making this property likely to be the last newly constructed building on the island for years or even decades to come.
HIGH INCOME DEMOGRAPHICS
FDOT shows the annual average daily traffic for this site is 29,000 vehicles per day and STI reports that the average annual household income is in excess of $262,000.
Let's Talk - The Maylay
Seize the opportunity to invest in one of the most desirable locations in Florida. Contact Solutions RE today to learn how The Maylay can meet your sophisticated real estate needs and elevate your investment portfolio.