Description
The offering includes two contiguous lots totaling approximately 34,000 SF or 0.77 acres zoned T6-8-O. That means you’re looking at a by-right development potential for up to 116 multifamily units. Here’s the value-add: the site currently generates approx. $250,000.00 in annual rental income from a mix of short-term tenants across residential and commercial structures. That provides a strong carry while pursuing entitlements or finalizing plans. Add to that the Live Local Act incentives no parking required in TOD zones, increased FAR, density, and height and this site offers significant development upside. Just 2.5 miles from Miami International Airport and minutes from Wynwood, Downtown, and the Health District, this location combines accessibility with strong long-term potential.
Details
| MLS # | A12049108 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 50 |
| Listing Provided By | RE/MAX 360 Real Estate | Agustin Duarte |
Features
| Zoning | 6100 |
|---|---|
| Acreage | 0.77 |
Taxes
| Tax Annual Amount | 34774 |
|---|
Area Information
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami |
| Zip Code | 33142 |
| Area | 31 |
| Community Name | MELROSE HEIGHTS 4TH SEC |
| Listing VS Median (in MELROSE HEIGHTS 4TH SEC) | |
Price: $3,900,000 low | high Med: $500,000 On site: 50 low | high Med: 321 | |
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Learn More About This Property
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami |
| Zip Code | 33142 |
| Area | 31 |
| Community Name | MELROSE HEIGHTS 4TH SEC |
| Listing VS Median (in MELROSE HEIGHTS 4TH SEC) | |
Price: $3,900,000 low | high Med: $500,000 On site: 50 low | high Med: 321 | |