18330 97Th AvePalmetto Bay, FL 33157

Property Details for 18330 97Th Ave

Year built

1955

Construction

CONCRETE

Lot size

0.23 AC

Property size (Sq ft)

2,071 SF

Zone code

6800:COMM,PROFESS OFFICES

Property type

Office properties

Property subtype

Office buildings

APN

33-5032-007-0620

APU

3350320070620

Description

This exceptional 41,253 square foot development site in Palmetto Bay, Florida, presents a unique investment opportunity. Located at the hard corner of Eureka Drive and SW 97th Avenue, this property boasts flexible Eureka Sector zoning within the Downtown Palmetto Bay District, permitting diverse development options including multifamily, commercial, mixed-use, medical, and traditional office uses. Originally planned as a four-story, approximately 153,172 square foot medical office building, its proximity to major medical facilities like HCA Florida Cutler Bay Emergency, Jackson South Medical Center, and Baptist Health Urgent Care adds significant appeal. The site's strategic location offers easy access to US-1, the Florida Turnpike, and I-95, enhancing its accessibility and convenience. Furthermore, its designation as a Qualified Opportunity Zone provides substantial tax incentives for developers and investors. The permitted density allows for a multi-family development with up to 43 units per acre, potentially increasing to 54 units per acre under a Live Local Project. Multiple addresses are associated with this property: 18330 SW 97th Ave, 18320 SW 97th Ave, 9700 SW 183rd St, and 9720 SW 183rd St, all in Palmetto Bay, FL 33157. The asking price is $2,681,445. APN numbers are 33-5032-007-0620, 33-5032-007-0630, 33-5032-007-0650, and 33-5032-007-0660.

• CAP approach

  CAP return

  Valuation

  6%

  $1,492,824

  6.5%

  $1,377,992

  7%

  $1,279,564

• Comparable approach

  Method

  Valuation

  Relative Method

  $675,488

  Geo Method

  $675,488

• Alternative Use

  Use

  Valuation

  Residential

  $1,708,710

  Hospitality

  $1,565,169

  Educational

  $1,302,202

  Medical

  $1,346,987

  Retail

  $2,025,648

Location Insight

City

Palmetto Bay

County

Miami-dade

State

Florida

Latitude

25.599

Longitude

-80.3484

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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