342 NW 7th St - Commercial LAND FOR SALE


Miami, FL 33128- Overtown9,766 SF
$6,000,000 USD
305-582-2424
342 NW 7th St, Miami, FL for Sale
$6,000,000 USD
Commercial LAND - FOR SALE
1/9
9,766 SF

342 NW 7th St
Miami, FL 33128
Overtown


HIGHLIGHTS

  • Develop 143 apartments & 1 retail by right
  • Proposed 80,000 SF buildable & 58,000 leasable SF under A/C. 100% parking reduction via TOD & OZ benefits
  • Rents in similar new dev a few blocks west with 100% parking reduction is $4.62 to $4.81/SF/mo
  • Walking distance to Publix, Aldi, & Target; as well as 4 Metro Movers & Brightline station
  • Repriced at $42,000/door land cost
  • Please see attached Offering Memorandum ("OM") or email to request a copy

OVERVIEW

Develop 143 Apartments & One (1) Retail Bay one block to Downtown Miami in Highland Park on this vacant land site in the next area of continued development in Miami, Florida. Development by-right via submission under Live Local SB102 & 328 amendments, allowing for 100% parking reduction driving down your development costs. Located in Transit Oriented Development (“TOD”) and Opportunity Zoned (“OZ”) areas. The proposed development concept details 80,000 buildable SF, with average unit sizes of 402 SF, and an approximate 850 SF retail bay. The net leasable 58,000 SF of apartments. Across the street from Block 55 market rate and Sawyer's Walk (live local) rentals. Also 1 to 2 blocks to, Starbucks, Target, ALDI, as well as three (3) blocks to Publix, for all grocery needs. Rents in similar newly developed ‘Highland Park’ rental building with 100% parking reduction show rents at $4.64 to $4.81/SF/month. Surrounded by hot spots like Kaseya Center, Frost Museum, PAMM, E11even, & Club Space and fashionable dining options like Habibi | Moroccan, Kiki on the River, SeaSpice, Casablanca, Garcias on the River, as well as the offerings at the Riverside Wharf. Downtown Miami is one block away and is ‘the’ thriving and growing neighborhood developers are hot to develop within surrounded by 522,000 + residents, 380,000 + daytime employees, and more than 50,000 + businesses within a five-mile radius. Convenient direct access in and out of the area from I-95 entry/exits, Biscayne Blvd, the Port of Miami, as well as MacArthur Causeway access to the Beaches, Edgewater, & Brickell for the locals, tourists, and professionals interested in Downtown.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/ACRE

$26,756,757/AC

PRICE/SF

$614 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

Build 91 units & 1 Retail Downtown Miami

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Multi-Family, Apartment Units

LAND ACRES

0.22 AC

LAND SF

9,768 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Streets, Curb/Gutter/Sidewalk

ZONING

T6-8-L

APN/PARCEL ID

01-0105-040-1010,01-0105-040-2010,01-0105-040-2020

ASK ABOUT THIS PROPERTY

Brian Carter, MBA, CCIMDouglas EllimanMore Info
305-582-2424

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Brian Carter, MBA, CCIMDouglas EllimanMore Info
305-582-2424

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.