5950 Sunset DrSouth Miami, FL 33143

Property Details for 5950 Sunset Dr

Year built

1968

Construction

CONCRETE

Lot size

0.66 AC

Property size (Sq ft)

9,736 SF

Zone code

RES/COMMERCL 2 STORY MAX

Property type

Office buildings

APN

09-4036-026-0010

APU

940360260010

Description

This exceptional 0.56-acre commercial land parcel, located at 5950 Sunset Dr in South Miami, Florida (zip code 33143, APN 09-4036-026-0010), presents a prime opportunity for high-rise development. The property boasts a fully approved site plan for a 236-unit, 21-story mixed-use project, perfectly situated within a Transit-Oriented Development (TOD) zone designated TODD MU-5 (Transit-Oriented Mixed-Use). Its strategic location offers excellent accessibility, proximate to Downtown South Miami and the South Miami Metrorail Station, placing it within a thriving multifamily submarket exhibiting strong rental demand and consistent growth, with rents exceeding $5.00 per square foot. This high-density development site benefits from favorable zoning regulations and exceptional economic and demographic indicators, making it an attractive investment with significant potential for long-term returns. The property's proximity to major employment centers and lifestyle amenities further enhances its desirability and investment appeal. This is a generational opportunity to shape South Miami's skyline.

• CAP approach

  CAP return

  Valuation

  6%

  $7,659,620

  6.5%

  $7,070,420

  7%

  $6,565,390

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,070,590

  Geo Method

  $3,070,590

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $13,268,400

  Retail / Commercial

  $6,931,520

  Mixed-Use / Specialty

  $7,007,340

  Hospitality / Lodging

  $5,271,940

  Institutional / Educational

  $7,320,740

  Residential Income

  $8,565,260

  Multifamily

  $9,715,410

  Automotive / Energy

  $6,274,920

  Parking / Income-Based Land

  $2,066,080

  Restaurant / Food Service

  $3,859,120

  Healthcare / Senior Housing

  $7,082,810

Location Insight

City

South Miami

County

Miami-dade

State

Florida

Latitude

25.704

Longitude

-80.2908

CBSA code

33100

CBSA name

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

Property Tax & Assessments

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