1334 1St StMiami, FL 33135

Property Details for 1334 1St St

Year built

1936

Construction

TYPE NOT SPECIFIED

Lot size

0.16 AC

Property size (Sq ft)

1,855 SF

Zone code

6101

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

01-4102-006-1660

APU

141020061660

Description

This exceptional redevelopment opportunity presents a 29,000 square foot assemblage of four lots in Miami's vibrant Little Havana neighborhood, situated between the Health District (University of Miami and Jackson Memorial Hospitals) and the bustling Brickell/Downtown Miami area. The property, identified by APN 01-4102-006-1660, is zoned T6 & T5 and benefits from SB102 incentives. Conceptual plans call for an eight-story building with 137 residential units, offering 91,023 leasable square feet within a 157,064 square foot buildable area (57.9% efficiency). The design incorporates a two-level parking garage for efficient space utilization. The proposed unit mix includes 110 units under SB-102/328/Live Local rental limits and 55+ restrictions (via a City of Miami covenant), along with 27 market-rate units. Currently, a covered land play generates approximately $17,000 in monthly rental income. The property fronts both SW 1st and 2nd Streets and offers potential for expansion to 12 stories. Architectural renderings are available from MODIS Architects. The asking price is $6,250,000, with a land value estimated between $5,900,000 and $6,500,000 per square foot. The property is owned by a Limited Liability Company. Detailed information is available in the Offering Memorandum.

• CAP approach

  CAP return

  Valuation

  6%

  $1,985,954

  6.5%

  $1,833,189

  7%

  $1,702,246

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,100,818

  Geo Method

  $1,100,818

• Alternative Use

  Use

  Valuation

  Residential

  $1,833,189

  Hospitality

  $1,679,191

  Educational

  $1,397,067

  Medical

  $1,445,114

  Retail

  $2,173,216

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7721

Longitude

-80.2171

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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