Prive files spec office on a 0.3-acre Biscayne Boulevard sliver
New speculative office in 2026 is contrarian enough. Doing it small, on an arterial strip with no city of its own, is the actual bet.
Javier Rabinovich’s Prive Group has filed a pre-application with Miami-Dade for a six-story, 75-foot office building on two Biscayne Boulevard lots in the unincorporated pocket between North Miami and Miami Shores. Property Appraiser records show the site runs 11,652 square feet, or 0.27 acres, and was put together for $1.99 million.
Why it matters
Almost nobody is starting speculative office in 2026, and the ones who are tend to be doing it in Brickell or on Miami Beach with an institutional lender behind them. Prive is doing the opposite: small floorplates on an arterial strip that most sponsors drive past on the way somewhere else. The Real Deal, which surfaced the filing, reports the plan carries a rooftop lobby, a parking level and a car storage level served by a car elevator, with a car showroom and coffee shop on the floor plan. That is not generic space chasing a generic tenant. It is a product built around a specific buyer who wants a small, owned footprint on a boulevard address.
The site-selection question for anyone else scanning the South Florida market is whether a submarket with no city of its own is an edge or a dead end. Unincorporated Miami-Dade means the county is the entitlement path, not a five-member city commission, which can cut either way. It is worth saying plainly that a pre-application is the opening of a conversation, not an approval, and nothing here is entitled.
The numbers
The vacant 4,293-square-foot lot at 11034 sold in December 2023 for $265,000, or $62 a foot. The 7,359-square-foot parcel next door at 11032 sold in July 2024 for $1.734 million, or $236 a foot, close to four times the price of the first piece. That spread is the real lesson: the parcel that completes an assemblage is the one that costs. Blended, Prive’s affiliate is in at $172 a square foot, roughly $7.5 million an acre, and about 1.9 times the $1.06 million the county assesses the land at for 2026. Both parcels are zoned BU-1A. Six floors over a full-lot footprint would cap out near 69,900 gross square feet, which puts the land at something like $29 a buildable foot before a shovel moves.
What’s next
Watch for a formal site plan and whether the showroom concept survives into it. Neither address currently appears in our permit or approvals wires.
On the record
What we checked ourselves, and where you can check it too.
- Public recordProperty Appraiser records give the two parcels as folios 30-2232-010-0710 and 30-2232-010-0720, 7,359 and 4,293 square feet, both owned by 110 Space LLC, sold for $1.734M in July 2024 and $265,000 in December 2023.View the record on apps.miamidadepa.gov
- Our dataWe computed the blended land basis at $172 a square foot across 11,652 square feet, about 1.9 times the parcels' combined 2026 assessed land value of $1.06 million.
- Public recordThe appraiser's base land unit price for this stretch of Biscayne rose from $80 to $100 a square foot between the 2024 and 2026 rolls, a 25 percent markup applied to both parcels.View the record on apps.miamidadepa.gov
Sources
- Miami-Dade Property AppraiserFolio 30-2232-010-0710, 11032 Biscayne Blvd
- Miami-Dade Property AppraiserFolio 30-2232-010-0720, 11034 Biscayne Blvd
- The Real DealJavier Rabinovich's Prive proposes office near North Miami