2511 192Nd StMiami, FL 33180

Property Details for 2511 192Nd St

Property type

Land

Description

This exceptional 0.33-acre land parcel, located at 2511 NE 192 St, Miami, FL 33180 (APN: 30-2204-006-0140), presents a compelling investment opportunity in Miami-Dade County's thriving Ojus Urban District. Zoned RM (Residential Modified), this property offers significant development potential for a sophisticated apartment complex. The lot size ranges from 12,000 to 14,000 square feet, providing ample space for a proposed 38-unit residential development. The asking price is $2,499,999, with a pro-forma NOI of $40,000 and a pro-forma cap rate of 1.60%. The property's strategic location offers convenient access to major transportation arteries and public transit, ensuring easy connectivity to the rest of Miami-Dade County. The design flexibility inherent in the RM zoning allows for the creation of a visually appealing structure that maximizes the land's potential. This development could incorporate shared amenities such as a clubhouse and fitness center, enhancing the resident experience and fostering a sense of community. This is an ideal opportunity for developers seeking to capitalize on Miami's robust real estate market and create a landmark residential project. The lease term is one year, expiring August 31, 2024. This property represents a unique chance to build a thriving coliving community in a rapidly growing area.

Location Insight

City

Miami

County

Miami-Dade

State

Florida

Latitude

25.9532

Longitude

-80.151

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