1801 4Th AveMiami, FL 33132

Property Details for 1801 4Th Ave

Year built

1974

Lot size

0.32 AC

Property type

Commercial real estate

Description

This exceptional 0.32-acre development site in Miami, Florida, presents a unique redevelopment opportunity. Currently housing an 18-unit, 12,561 square foot Class B multifamily building with 100% occupancy, the property is zoned T6-36A-L, allowing for the construction of up to 322 micro-units under the OMNI CRA guidelines. This permits a 60/40 split of market-rate and affordable units (up to 120% AMI), eliminating parking requirements for units under 400 square feet. The existing building, constructed in 1974 and featuring five stories, offers immediate income while plans for a significant expansion are underway. Located at 1801 NE 4th Ave, Miami, FL 33132, this property boasts a prime location in a Transit Oriented District, steps from Biscayne Bay and Margaret Pace Park, and surrounded by luxury residences and high-end amenities. The land value is $1,148 per square foot, with the asking price for the entire property set at $15,750,000 ($875,000 per unit). This presents a compelling investment opportunity for developers seeking to capitalize on Miami's thriving real estate market and the demand for micro-unit living. The property's strategic location near Midtown, Wynwood, and the Design District further enhances its appeal and potential for significant returns. The APN is 01-3231-037-0010.

Location Insight

City

Miami

County

Miami-Dade

State

Florida

Latitude

25.7939

Longitude

-80.1876

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