A 2.42-acre property in Miami's Little River district is for sale for $10 million, an asking price keyed to the neighborhood's redevelopment.

Event promoter and restaurateur Barton G. owns and occupies the 48,796-square-foot warehouse and office property at 240 and 300 NE 72nd St., northeast of Northeast 71st Street and Second Avenue.

The asking price breaks down to $210 per square foot, which is not a record for the area.

“There's numerous comparable [sales] in the area that have traded for more than that. There's a number that have traded anywhere from the low $200 a foot to over $300 a foot in that immediate area,” said Alex Zylberglait, a Marcus & Millichap investment broker marketing the property.

With limited inventory, the size of the property stands out, he added.

“It's really a unique combination, a unique opportunity to control a sizable and strategic piece of real estate located in probably one of the hottest areas of growth,” Zylberglait said.

The most notable nearby project is the proposed Magic City Innovation District, a mixed-use arts, entertainment and technology development between Northeast 60th and 64th streets east of Second Avenue in the Little River and Little Haiti area.

The buildings for sale were built in 1949 and 1950 and last traded for $1.5 million in December 2010, according to the Miami-Dade County property appraiser's office.

Barton G. might stay in the property as a tenant or move, according to Zylberglait.

“As we have seen this area being transformed, there's a lot of opportunities for any kind of creative space. There is already in the area a lot of architecture firms, media firms,” he said.