This Multifamily Property is Off-Market.

700 NE 26th Terrace
Miami, FL 33137 ·

58 Units · Multifamily For Sale

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AJA on the Bay

Price N/A Commission Split 3%
No. Units 58 Occupancy 100%
Building Size 99,368 SF No. Stories 12
Property Type Multifamily Year Built 1982
Property Sub-type Mid/High-Rise Lot Size 37,450 SF
Property Use Type Investment APN / Parcel ID 0132300530010
Listing ID: 15940295 Date Created: 10/13/2008 Last Updated: 11/29/2011

Description

This is a recently renovated, 12 story, 58 unit apartment building directly on Biscayne Bay with over 200' of water frontage. The building is 100% leased, but at below market rents. There are many opportunities for this property. The building sits on 37,450 s.f. of land that has full entitlements for a 129 unit condo with 155,894 s.f. of saleable area or the existing 99,368 s.f. building could be converted to condo. Sellers are motivated.

The property sits right on Biscayne Bay about 2 blocks east of Biscayne Blvd. It is located in Miami's booming Edgewater district which provides easy access to downtown Miami, the Miami Design District, and the causeways to Miami Beach. Spectacular views of the Bay, downtown Miami and Miami Beach skylines.

Highlights

  • Spectacular Waterfront Property With Substantial Upside
  • Condo Convert or Take Advantage of Full Entitlements for Redevelopment
  • Close to Downtown Miami, Design Center, Performing Arts Center & Midtown
  • Great Access to Causeways to Miami Beach and Airport Espressways
  • Seller Financing Available

Research

700 NE 26th Terrace, Miami, FL 33137 (Miami-Dade County)

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