Rare opportunity to purchase a free-standing subdivided retail building in one of the most heavily traveled areas of North East Dade, Miami. Falling under multiple overlays, the site allows for an increased density of 100 dwelling units per acre, allowing for a maximum of 32 units on this site. Approval and plans are already in place. Renderings are available for qualified prospects. Currently rented to 4 retail tenants who are on month-to-month leases and paying below market rent. The end parcel lot is currently vacant. This property is best seen as a solid covered land play for a developer looking to ultimately take advantage of the strong redevelopment incentives while capitalizing on the in-place income for short-term or stable annual rentals in the meantime as the neighborhood continues to grow and thrive. Seller finance will be considered.
- Asking Price:
- $1,650,000
- Sales Revenue:
- $88,800
- Cash Flow:
- $66,646
Property Information
- Real Estate:
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Real Property Included
- Location:
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North Miami - South Florida. Major east-west travel corridor.
- Premises Details:
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Four Retail units plus end parcel. Perfect for redevelopment. Approval for affordable housing which is in high demand and short supply in Miami. Convenient to shopping, highways, major points.
