23 Units - SW 7 ST - T5-O Assemblage Multi-Family FOR SALE


Miami, FL - Little Havana
$6,050,000 USD
305-340-8901
, Miami, FL for Sale
$6,050,000 USD
Multi-Family - FOR SALE
1/31
null | 4.67% Cap Rate

23 Units - SW 7 ST - T5-O Assemblage
Miami, FL
Little Havana


HIGHLIGHTS

  • Local SB-102/136 Eligible development site
  • Covered-Land Play - 23 units, by CALLE OCHO arts and entertainment hub

OVERVIEW

Exceptional assemblage of 23,850 SF on three contiguous properties in West Little Havana w/ T5-O zoning on the SW 7 ST corridor abutting Calle Ocho. The site is best served by being entitled through a Live-Local/SB102 and 136 process. Applied to this lot, SB102 would allow well over 150 buildable units and up to 24 stories of height or 48 with bonuses, with no FLR restrictions. On one is a 1940s eight unit apartment building consisting of studios, with identical floor plans, on a 7,500 SF lot. Then there is a 5-unit buildings of 1 bed 1 bath on 7,500 SF. The last is a 10 unit building from 1965. All of these are rented below market. Within five minutes of Brickell and Downtown. Miami’s nationally recognized Little Havana neighborhood is known for its culturally-rich and colorful lifestyle. Its location along Little Havana’s Main Street Corridor and Tourist Central of Calle Ocho/SW 7 st sets it apart. The strip attracts over 3 million tourists a year, aside from the flood of local Miamian’s who now call Calle Ocho their preferred nighttime hangout. The Property is located near the most exciting block in Little Havana, which includes Ball & Chain, Union Beer Store, El Santo Taqueria, Tower Theater, Futurama and much more, an area where retail rents are approaching $60psf. All this means an abundance of local clientele and open pocketbooks for whatever business establishes itself at this site. 17 AV fronting the property is also the main exit route from Brickell, and provides quick access to coral gables, airport, and more; with a dedicated high-frequency transit route, for excellent mobility to/from the site. Little Havana is centric to all the major employment centers of our city, with great connectivity to them, and a booming development movement which is rapidly adding higher-income rooftops to the area.

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Mauricio VillasusoFausto Commercial Realty ConsultantsMore Info
305-340-8901

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Mauricio VillasusoFausto Commercial Realty ConsultantsMore Info
305-340-8901

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