That's some Real Estate...

Cheo_D
I'd better be where I can Look AND Touch
Back in September Dean’s Gold strip club in North Miami sold for $23.5 million and the new owners have plans to redevelop. This was after Dean himself had sold the land and became a lessor for 16 million the year before.

http://www.miamiherald.com/news/business…

Just look at that aerial view. Prime location down the road from Aventura, it was almost certain to go for upscale condos/shopping as soon as the market showed any signs of life.

Going in the opposite direction, the month before that Rick's Cabaret Inc. bought outright the shopping center that houses Tootsie's in Miami Gardens for 15.3 million.

http://www.miamiherald.com/news/business…

I can understand Rick's policy of owning rather than leasing but really, a whole stripmall in a Miami Gardens industrial/commercial zoned block?


Damn that's some high-value space the high-maintenance gals were occupying. Property market must be finally picking up in Miami-Dade
OTOH now I have a reference point for when I hit the big Powerball jackpot...;)

5 comments

Latest

sflguy123
9 years ago
Dean's Gold is at a corner with heavy traffic plus a rich neighborhood. I can see a retail business park there. It's to close to the highway for residential for me.

Tootsie's is more in an industrial area and less affluent. I don't think that location works for residential or high end retail.

Sounds like Dean's Gold clock may be clicking. No worries I was only there once decades ago.
Papi_Chulo
9 years ago
Dean's Gold was the 1st SC I went-to shortly after turning 21 back in 1991- back then I believe it was called Solid Gold.

Def in a good location w/ nearby Aventura as you mentioned but also pretty-much next-to Sunny-Isles/North-Miami-Beach which has gone way upscale in the last few years.


Tootsies is on a major intersection in a fairly heavy commercial area – it is a sizable piece of real-estate which used-to house a BJ's Wholesale Club – there is also a very big Publix Supermarket warehouse/distribution-center just down the street so I can see the Tootsies real-estate having value for some other commercial purpose if Tootsies fails to exist.

On a somewhat related-note; I've been driving south on 95 past King of Diamonds on different weeknights and seems the KOD parking-lot is empty – I'm nor sure if the club was open and I just didn't see the cars since I was keeping my eyes on the road and there are some bushes that obstruct the view of the club; but I wonder what the current state of KOD (another huge club) is – supposedly it was sold a while-back (~2 yrs ago?) but not sure.
Cheo_D
9 years ago
Well Papi KOD is apparently still up and keeps a FB page more active than many other clubs, advertising many events, but I would not be surprised however if a such a self-styled "baller" club would not get mass attendance on non-event/non-feature nights. I mean KOD sometimes makes it sound that unless you're raining down several bricks of greenbacks you should not bother to come within 10 feet of the stage. Hype, sure, but may make people think twice if there's no star attraction.

And speaking of the general area, Black Diamonds is also right on US1 even closer to Aventura than Dean's, and though it's kind of wedged into remnant land between the rights-of-way of US1, Dixie Hwy and the RR, the lot could still be susceptible to be upscaled or family-friendlied if the market on that piece of road begins going up.
san_jose_guy
9 years ago
Upscale condos, and sometimes upscale shopping like San Jose's Santana Row, are horrid. Where I am at now, the construction is going on everywhere. It amounts to a real estate Ponzi scheme.

SJG
Papi_Chulo
9 years ago
I didn't start SCing in SoFla regularly till ~2011 after I moved back to SoFLa – Black Diamonds seems as if it never got off the ground since it opened a year+ ago; previous to Black Diamonds there was Queen of Diamonds (black club) but it too closed and seems it was not open long. In the mid-2000s Scores opened shortly in the Black Diamonds location when it seemed Scores was trying to go hard nationally; but it too was not open long. Seems SCs have not had much luck at the Black Diamonds location but then again my SoFla SC knowledge prior to 2011 is iffy.
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