1080 93Rd StBay Harbor Islands, FL 33154
- Residential income properties
- 30,017 SF
Property Details for 1080 93Rd St
- Year built
- 1965
- Lot size
- 0.52 AC
- Property size (Sq ft)
- 30,017 SF
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This exceptional value-add investment opportunity presents a vacant, fully gutted 30,017 square foot, four-story apartment building situated on a 0.52-acre lot in the highly desirable Bay Harbor Islands, Florida. The property, currently vacant, boasts approved plans for a sophisticated renovation transforming it into a luxury residential complex. The existing building, constructed in 1965, comprises 24 units within a Class B building, offering a unique chance to create upscale living spaces. The approved plans envision expansive layouts, serene courtyards, and a modern lobby, catering to the area's demand for high-end residences. Located on 93rd Street, the property benefits from prime waterfront proximity to the renowned Bal Harbour Shops, Miami's top beaches, and high-end dining options. The asking price is $10,700,000, translating to $356.46 per square foot and $445,833.33 per unit. The land value alone is $472 per square foot. The property features 1.2 parking spaces per 1,000 square feet and is zoned RM-2. Potential federal and local tax incentives further enhance the project's feasibility, making this a truly unparalleled value-add opportunity in a sought-after market. The property is currently distressed and offers a streamlined path for immediate renovation.
Location Insight
- City
- Bay Harbor Islands
- County
- Miami-Dade
- State
- Florida
- Latitude
- 25.8835
- Longitude
- -80.1308
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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