1334 1St St Miami, FL 33135

This exceptional redevelopment opportunity presents a 29,000 square foot assemblage of four lots in Miami's vibrant Little Havana neighborhood, situated between the Health District (University of Miami and Jackson Memorial Hospitals) and the bustling Brickell/Downtown Miami area. The property, identified by APN 01-4102-006-1660, is zoned T6 & T5 and benefits from SB102 incentives. Conceptual plans call for an eight-story building with 137 residential units, offering 91,023 leasable square feet within a 157,064 square foot buildable area (57.9% efficiency). The design incorporates a two-level parking garage for efficient space utilization. The proposed unit mix includes 110 units under SB-102/328/Live Local rental limits and 55+ restrictions (via a City of Miami covenant), along with 27 market-rate units. Currently, a covered land play generates approximately $17,000 in monthly rental income. The property fronts both SW 1st and 2nd Streets and offers potential for expansion to 12 stories. Architectural renderings are available from MODIS Architects. The asking price is $6,250,000, with a land value estimated between $5,900,000 and $6,500,000 per square foot. The property is owned by a Limited Liability Company. Detailed information is available in the Offering Memorandum.