251 Flagler St Miami, FL 33131

Prime 2.51-acre development site in Downtown Miami, offering unparalleled redevelopment potential. The property, encompassing three parcels (APN: 01-0111-080-1020, 01-0111-080-1140, 1-0111-080-1040), boasts 250 linear feet of Flagler Street frontage and extends a full city block on NE 1st Street. Currently improved with a 164,000-square-foot, three-story shopping center anchored by Marshalls, existing leases include a 180-day demolition clause, allowing for expedited redevelopment while providing immediate income. The T6-80-O zoning, within the Downtown Density Overlay, permits up to 1,000 housing units per acre, structures up to 80 stories, and a maximum gross building capacity of 3.9 million square feet, ideal for a mixed-use high-rise. The site benefits from exceptional walkability to Brickell City Centre, Whole Foods, Bayfront Park, and Miami World Center. Its proximity to over 12 million square feet of downtown office space, Miami Dade College's main campus, and government/judicial buildings, coupled with nearby entertainment and sporting venues, ensures high demand. The adjacent Metromover station provides seamless access to Metrorail and Brightline, enhancing connectivity. This location represents a unique opportunity to capitalize on the ongoing Flagler Street revitalization and Miami's thriving urban core. The property's addresses include 251 E Flagler St, 40 NE 3rd Ave, and 244 NE 1st St, Miami, FL 33131/33132.