TriCap has placed its three-story retail building at 800 Lincoln Road in Miami Beach on the market with a $100 million asking price, as deal activity along the corridor accelerates.
Newmark brokers Adam Spies, Marcella Fasulo, and Benjamin Lushing are marketing the 32,100-square-foot property, though the brokerage has declined to comment publicly on the listing.
The $100 million asking price translates to $3,111 per square foot, representing a 12.5 percent premium over the $2,744 per square foot TriCap paid when it acquired the building in October 2015.
New York-based TriCap paid $88.2 million for the property at that time, with records confirming the original transaction price and terms.
TriCap redeveloped the building, which was originally constructed in 1935, into its current three-story configuration just before the pandemic reshaped commercial real estate markets nationwide.
The property now carries an enviable tenant roster of high-performing global retailers and popular restaurants, anchored by Lululemon (NASDAQ: LULU), which recently signed a five-year lease extension at the location.
Mila, the Miami Beach restaurant operated by Greg Galy’s Riviera Dining Group, ranked as the country’s top-grossing independent restaurant last year according to Restaurant Business, generating $51 million in annual sales.
A portion of Mila’s substantial revenues flows back to TriCap through percentage rent arrangements, making the restaurant a meaningful financial contributor to the building’s overall income profile.
Riviera Dining Group also operates MM Members Club out of the property, a social club where individual memberships start at $5,000 annually or a one-time $50,000 fee, adding another layer of revenue activity at 800 Lincoln Road.
The building carries a five-year weighted average lease term across its tenants, offering a prospective buyer a stable and well-structured income stream from day one.
Retail property transactions along Lincoln Road have been gaining momentum throughout 2026, signaling renewed investor confidence in the Miami Beach corridor after years of post-pandemic repositioning.
Investor Leon Zwick sold a 36,500-square-foot building at 930 Lincoln Road last week for $22 million to an LLC managed by Babba Yesharim, the CEO of Miami Beach-based Riverside District Development, with BridgeInvest providing a $27.4 million loan.
Scott Robins’ Robins Companies also recently sold a 22,800-square-foot property at 318-334 Lincoln Road for $18.4 million to Dallas-based Tabani Group, further reflecting the pickup in Lincoln Road deal volume.
Broader redevelopment momentum is building along the strip, with Michael Comras’ NoLi District project expected to cost $30 million and add new storefronts and pedestrian passageways to the corridor.
Lincoln Road retail space stood at over 80 percent occupancy as of July, with rents ranging from $120 to $200 per square foot, according to Lincoln Road Business Improvement District president Lyle Stern.
In the third quarter, average retail asking rents in Miami Beach reached $109 per square foot and total vacancy sat at 4.7 percent, according to data from Colliers.
The corridor spent much of the past decade working to recover after rents peaked at $300 per square foot, a level that pushed national retailers and upscale restaurants to leave or downsize their footprints.
The $100 million listing at 800 Lincoln Road represents one of the most significant asking prices the street has seen in recent years and will serve as a closely watched benchmark for where Lincoln Road valuations currently stand.
