2140 2Nd AveMiami, FL 33137

Property Details for 2140 2Nd Ave

Year built

2019

Construction

CONCRETE

Lot size

0.51 AC

Property size (Sq ft)

8,195 SF

Zone code

6110:COMM/RES-DESIGN DIST

Property type

Retail properties

Property subtype

Other automotive properties

APN

01-3125-014-0020

APU

131250140020

Description

This exceptional Miami, Florida property presents a unique investment opportunity. Located in the highly sought-after Edgewater neighborhood, on NE 2nd Avenue, this 30,725 square foot land assemblage is zoned T6-12-O and comes with an approved site plan for a 160-unit residential development. This includes 54 bonus units granted through a Transfer of Development Density (TDD), exceeding standard zoning allowances. The property benefits from its strategic location, adjacent to Wynwood and north of the Arts & Entertainment District, placing it within a vibrant and rapidly developing area. Adding to its appeal, this assemblage is situated within a Qualified Opportunity Zone (QOZ), offering significant tax advantages. Two existing structures are included: an 8,200 square foot MIDAS center (built in 2019) and a 3,000 square foot multi-family building, both currently vacant but offering potential rental income until development commences. This is the first time both parcels are available as a pre-packaged deal, presenting a streamlined and attractive acquisition opportunity. The asking price for this prime development site is $14,000,000. This is a rare chance to acquire a fully entitled, ready-to-develop site in one of Miami's most dynamic neighborhoods.

• CAP approach

  CAP return

  Valuation

  6%

  $10,400,877

  6.5%

  $9,600,809

  7%

  $8,915,037

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,906,595

  Geo Method

  $7,906,595

• Alternative Use

  Use

  Valuation

  Residential

  $8,098,642

  Hospitality

  $7,418,312

  Educational

  $6,171,949

  Medical

  $6,384,212

  Retail

  $9,600,809

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7978

Longitude

-80.1912

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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