100-118 NE 21st St - Prime Edgewater Land Development Site 0.65 Acres of Commercial Land Offered at $7,495,000 in Miami, FL 33137

Introducing a coveted land development opportunity for a mid-rise or high-rise project in the popular Edgewater neighborhood of Miami. Located at the southernmost quadrant just outside the borders of both the Arts + Entertainment District (OMNI), and only a block from the access road to Wynwood that crosses the train-tracks (one of only a few crossings in the neighborhood).
With T6-8-O zoning, a developer can build up to 8 stories and 97 units BY-RIGHT. Plus, with the bonuses available in the Miami-21 zoning code for various public benefits, a developer can exceed this count without applying for a Live Local project, or can opt to pursue a Live Local project for essentially unlimited density, height, and buildable area (more than can feasibly fit on the site).
Located well within only a block of a by-right allowance for 36 stories, and within City of Miami where the max. density is 1,000 units per acre, a developer can take advantage of substantial bonuses in exchange for a project that meets the 40% AMI threshold for a mixed-income product.
This offering is also very competitively priced for the neighborhood, at $265/Sq. Ft., compared to market averages in the rest of the neighborhood of $300/SF+ for the portion west of NE 2nd Avenue and $450-$600/Land Sq. Ft. in the eastern portion by Biscayne Blvd. Also located within a Qualified Opportunity Zone (QOZ) and abutting the Braman campus within walking distance to Young Arts, the Adrienne Arsht Center, Publix, and more.