For Sale
$23,750,000

1515-1543 River DrMiami, FL 33125

Luxury Waterfront Development Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional Miami, Florida development opportunity encompasses three contiguous lots totaling 77,101 square feet (1.77 acres) along the Miami River. The property, located at 1515-1543 NW S River Dr, Miami, FL 33125 (APN: 01-3035-016-0070, 01-3135-016-0060, 01-3135-016-0040), boasts site plan approval for the construction of 40 luxury townhomes. The T4-R zoning allows for this high-density residential development. Included are 14 existing 50-foot boat slips, enhancing the waterfront lifestyle appeal. The site's prime location offers convenient access to Miami River Landing, JMH-UM Medical & Employment hub, Miami International Airport, and the future Miami Freedom Park Stadium (2026 FIFA World Cup host). This presents a unique opportunity to capitalize on Miami's thriving real estate market and create a premier luxury townhome community. The asking price is $23,750,000. Projected total project costs, including land acquisition and construction, are estimated at $54,179,447, with an estimated sellout of $77,600,000, resulting in an estimated profit of $23,420,553. This development promises an unparalleled return on investment in a rapidly growing area.

Highlights

  • 1.77-acre lot assembled from three parcels, listed at $25,000,000.
  • Approved site plan for 40 luxury townhomes.
  • T4-R zoning.
  • Projected total development cost: $54,179,447.
  • Estimated project sellout: $77,600,000, yielding an estimated profit of $23,420,553.

Property Details for 1515-1543 River Dr

Property type
Land

Location Insight

City
Miami
County
Miami-Dade
State
Florida
Latitude
25.7838481
Longitude
-80.2208248
1515-1543 River Dr, Miami, Florida

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1515-1543 River Dr
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