This exceptional 22,848 square foot commercial land parcel in Miami's Little Haiti/Little River neighborhood is offered at $2,790,000. Zoned T5-O, it allows for up to five stories and 80% lot coverage, with a potential density of 65 units per acre. The site boasts a buildable square footage of 91,392, presenting a significant development opportunity. Located at 6900 NE 2nd Ave, Miami, FL 33138, this property benefits from its proximity to major highways (I-95 and I-195), and thriving neighborhoods like the Design District and Magic City Innovation District. The Live Local Act may allow for increased density and height, potentially exceeding 150 units and 8 stories, subject to meeting specific affordability requirements (renting at least 40% of units to residents earning up to 120% of the area median income). The area is experiencing significant growth, with several large-scale multifamily projects underway nearby, including the Magic City Innovation District (2,700 units), AJ Capital's Little River development (hundreds of units), CEDARst's project (191 units), and Morgan Reed's Little River Center (100 units). This prime location and zoning regulations make this a compelling investment for developers seeking to capitalize on Miami's booming real estate market. The price per square foot is $122. This property presents a rare opportunity to develop a substantial project in a rapidly transforming area.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
Alternative Use
Use
Valuation
Residential
$10,325,946
Hospitality
$9,458,511
Educational
$7,869,370
Medical
$8,140,010
Retail
$12,241,242
Location Insight
City
Miami
County
Miami-dade
State
Florida
Latitude
25.8389
Longitude
-80.1928
CBSA code
33100
CBSA name
MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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