Your email has been sent.
100-111 Perviz Ave 0.57 Acres of Commercial Land in Opa Locka, FL 33054
Investment Highlights
- Secured approvals under SB 102 Live Local Act and Ordinance 2024-21 support immediate construction.
- Eligible for $10M–$15M CRA funding, bridging critical development capital needs.
- Submarket fundamentals show declining vacancies and no competing supply forecast for 2026.
- 30-year property tax exemption enhances operational efficiency and project viability.
- Transit-oriented location near major expressways and 0.5 miles from Miami-Opa Locka Executive Airport.
Executive Summary
Property Facts
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Proposed Use | Multifamily |
| Property Type | Land | Total Lot Size | 0.57 AC |
| Zoning | B-2 - Commercial | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 0.57 AC |
| Zoning | B-2 - Commercial |
1 Lot Available
Lot 3
| Lot Size | 0.57 AC |
| Lot Size | 0.57 AC |
Fully entitled mixed-use development with 140 residential units and ground-floor retail.
Description
This fully approved, shovel-ready development presents an exceptional opportunity to deliver 140 residential units within the vibrant Opa-locka submarket. Entitlements are secured under SB 102 Live Local Act and Ordinance 2024-21, eliminating rezoning risks and enabling immediate vertical construction. The plan combines nine-story and six-story structures over a prominent 1.09-acre site with 5,380 SF of street-level commercial space, enhancing live-work-play dynamics. The project benefits from significant financial incentives, including a 30-year ad valorem tax exemption and eligibility for $10–$15 million in CRA subsidies, materially reducing operating costs and bridging financing gaps. These advantages, combined with Miami-Dade County’s persistent housing demand and submarket fundamentals—5.3% vacancy with declining supply—position the asset for long-term performance. With prime connectivity to I-95, SR-826, and Florida’s Turnpike, plus proximity to Miami-Opa Locka Executive Airport, the location offers excellent commuter accessibility. Median household incomes align with affordability thresholds under the Live Local Act, providing a resilient renter base. This project is structured to maximize feasibility and long-term revenue growth within one of South Florida’s most undersupplied
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $426,151 |
Property Taxes
Contacts
-
Virgilio Fernandez, CCIM, MSIRE -
Mitash Kripalani, CCIM -
Alain Crego, MSIRE -
Milan Patel -
Cushman & Wakefield
