901 8Th StMiami, FL 33130

Property Details for 901 8Th St

Year built

1984

Construction

CONCRETE

Lot size

0.32 AC

Property size (Sq ft)

9,342 SF

Zone code

6100:COMMERCIAL,NEIGHBRHD

Property type

Outlet malls

APN

01-4138-003-2280

APU

141380032280

Description

This exceptional 61,678 square foot land parcel, located at 901 SW 8th Street in Miami's vibrant Little Havana neighborhood, presents a unique development opportunity. The property's strategic location between SW 8th and SW 7th Streets offers unparalleled access to the area's bustling commercial activity and cultural richness. The site comprises two distinct zoning classifications: 54,400 square feet zoned T6-8-O and 7,278 square feet zoned T5-L. This allows for the construction of a high-rise development, potentially reaching up to 12 stories. As-of-right development could yield up to 272,000 gross square feet, with the potential for expansion to 340,000 gross square feet through public benefit bonuses. The permitted zoning allows for a variety of uses, including residential (up to 198 units) or hotel (up to 396 units). Offered at $17,200,000, this represents a compelling price per square foot of $278.87, and a land value of $295 per square foot. The net rentable area is 20,526 square feet. This is a rare chance to acquire an entire city block in a rapidly growing and highly desirable location. Invest in a piece of Miami's dynamic future.

• CAP approach

  CAP return

  Valuation

  6%

  $11,856,619

  6.5%

  $10,944,571

  7%

  $10,162,816

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,013,229

  Geo Method

  $9,013,229

• Alternative Use

  Use

  Valuation

  Residential

  $9,232,155

  Hospitality

  $8,456,605

  Educational

  $7,035,796

  Medical

  $7,277,768

  Retail

  $10,944,571

Location Insight

City

Miami

County

Miami-dade

State

Florida

Latitude

25.7663

Longitude

-80.2094

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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