0 ConfidentialMiami, FL 33130

Property Details for 0 Confidential

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional commercial and residential land parcel in Miami, FL (zip code 33130), offers a unique development opportunity. Spanning 25,000 to 29,000 square feet, the property is zoned T6-24A-O, allowing for significant density. Currently, a national tenant occupies the site on a month-to-month lease, providing immediate cash flow for the new owner, who can choose to renew or terminate the lease. The location is highly desirable, situated within 0.4 miles of the Brickell Substation and two blocks from Brickell City Centre, creating a prime "live, work, play" environment. The Live Local Act allows for up to 610 residential units with substantial tax incentives, including a 75% tax exemption for units dedicated to attainable housing at 120% AMI and 100% exemption for units at 80% AMI. A potential development could include approximately 365 market-rate units and 265 affordable/workforce housing units. Condo sales are projected at $1200 per square foot. The Transit-Oriented Development (TOD) zoning allows for microunits and reduced parking requirements. Furthermore, the property is eligible for inclusion in the Brickell Station Subzone's Residential Transit Overlay (RTZ), potentially increasing density to 500 units per acre with no limitations on building height or floor area ratio, subject to legislative approval. This presents an unparalleled chance to create a high-rise development in a thriving urban core. The asking price is $30,000,000.

Location Insight

City

Miami

County

FL

State

Florida

Latitude

25.766

Longitude

-80.1962

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