USD 4,450,000

305 SW 6th Ave
Homestead, Florida 33034

For Sale

Property Description

10 vacant lots totaling 67500 SF to develop an approved project by the City of Homestead consisting of 24 Affordable Housing Units and 17 Retail Units for rent. This development will comply with the requirements of the Southwest Neighborhood Master Plan. The proposed project will consist of +-14,500SF of retail on the first floor, and 39651 SF of twenty 4bed/2bath and four 3bed/2bath units on the second and third floors. The New Historic Downtown and Business Center within walking distance. Site Market Value per BPO $2,910,000.00 Prospective Market Value at Completion $12,689,716, Value at Stabilization (after18 months) $18,596,500.00, stabilization value based on a 5% cap rate of a projected NOI of $929,825.00 in year one.

Listed by GTR Realty, Inc.

Property Details

ID #
A11230153
Status
Sale
Type
Commercial, Land
Zip Code
33034
Lot Area
67,518ft2
Water Source
City/mains water
Septic
City sewer
Fuel Type
Electric
Location
City Location
Lot
1-2.5 Acres
Road Type
City/County Maintained
Utilities
Internet
Zoning Information
9400
Listing content provided by the Miami Association of REALTORS
Disclaimer: BBC: 2.75%, The offer of compensation is made only to participants of the MLS where the listing is filed.

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