USD 3,790,000
861 SW 1st St
Miami, Florida 33130
For Sale
Property Description
Site Plan Approved mixed-use 45-unit life-style dev for short-or long-term rentals & 4,330 SF of retail. Proforma IRR over 30%. Buyer may submit the by-right plan change to increase to 50 micro-units post permit receipt and offer Short-term rentals. Income potential: (A) Leasable 20,000 SF +/- of residential units at $5/SF is $1.2 mm in gross annual rents. (B) At $40/SF NNN, the retail may generate $173,000 in NOI annually. Project Development valued at $21 mm +/- when built and leased up. Hot Little Havana Dev on SW 1st & 9th Ave, near Downtown & Calle Ocho. Central to Brickell, Gables, Grove & Hospital District/Wynwood. Purchase now w/ the Site Plan approval & 100% parking reduction exception approved.
Listed by Douglas Elliman Real Estate
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Property Details
- ID #
- A11217699
- Status
- Sale
- Type
- Commercial, Land
- Zip Code
- 33130
- Lot Area
- 15,682ft2
- Ground Feature
- Paved Street
- Water Source
- City/mains water
- Septic
- City sewer
- Fuel Type
- Electric
- Location
- City Location, Corner Lot
- Lot
- Less Than 1 Acre
- Road Type
- City/County Maintained, Public Road
- Type of Trees
- Other Trees
- Utilities
- Internet
- Zoning Information
- 6110
