2321 62Nd StMiami, FL 33147

Property Details for 2321 62Nd St

Year built

1954

Construction

CONCRETE

Lot size

1.16 AC

Property size (Sq ft)

7,106 SF

Zone code

6062

Property type

Office properties

Property subtype

Office buildings

APN

30-3115-026-0010

APU

3031150260010

Description

This exceptional 1.16-acre development opportunity in Miami, Florida, presents a compelling investment prospect. Located at 2321 NW 62nd St, 33147, within Miami-Dade County's Mixed-Use Corridor (MC) zoning (6062 UC CENTER - MIXED USE CORRIDOR (MC)), this property offers significant potential. The existing 50,446 square foot, 10-story building, constructed in 1994, presents a redevelopment opportunity within a Qualified Opportunity Zone and Qualified Census Tract, unlocking various tax and development incentives. The site's zoning permits the construction of up to 90 units per acre, with a minimum of two and a maximum of ten floors. The asking price is $4,500,000, translating to $89.20 per square foot. The property's APN is 30-3115-026-0010. This prime location offers developers a chance to capitalize on Miami's thriving real estate market and benefit from substantial development incentives. The rectangular parcel's size and zoning make it ideal for a high-density mixed-use project. This is a rare chance to acquire a significant development site in a high-growth area. Don't miss this opportunity to create a landmark project in a vibrant and expanding urban center.

• CAP approach

  CAP return

  Valuation

  6%

  $4,610,250

  6.5%

  $4,255,616

  7%

  $3,951,643

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,720,603

  Geo Method

  $2,720,603

• Alternative Use

  Use

  Valuation

  Residential

  $5,276,963

  Hospitality

  $4,833,670

  Educational

  $4,021,556

  Medical

  $4,159,864

  Retail

  $6,255,754

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.8317

Longitude

-80.2357

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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