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DEVELOPMENT SITE 325 Units As of right 11920 NW 27th Ave 14,040 SF Retail Building Miami, FL 33167 $7,900,000 ($562.68/SF)
Investment Highlights
- High-Density Mixed-Use Redevelopment: 125 units/acre, 15-story height, 325 units by right + retail ground floor.
- Fully Certified & De-Risked: Clean Phase I, recent survey, 40-Year recertification, new 2024 HVAC with warranty, new electrical, sprinkler compliance.
- Major Cost Savings + SB-102 Bonus Eligible: No underground parking required, 500± unit upside, reduced basis ~$19,500/door.
Executive Summary
Price Reduced. $7,900,000.00 La Premiere Realty presents a high-density mixed-use redevelopment and investment asset for sale in Miami-Dade County. The property features a free-standing, former retail drive-thru building (former Walgreens) on a 60,168 SF signalized corner lot, with a ±14,040 SF structure and 76 existing parking spaces.
UC-MM | Core Mixed-Use Zoning delivers best-in-class development rights:
125 Units per Acre
15 Story Building Height
325 Units by right
Ground-floor commercial retail permitted
No underground parking required (major cost savings)
SB-102 eligible with projected 500± units and reduced basis ($15,800/door)
Fully de-risked + investor-ready:
-Clean Phase I Environmental completed by Dynatech Engineering Corp
- ALTA Survey 3 years old
- 40-Year Recertification completed
- Sprinklers certified + compliant
- Brand-new 2024 HVAC system with warranty
- Brand-new electrical system + infrastructure upgrades
- Folio: 3021280280961
Unmatched accessibility & retail demand submarket:
Located at NW 27th Ave & NW 119th St, a major north-south retail and commuter artery, minutes from Miami Gardens, Miami Lakes, City of Opa-Locka and key destinations including:
Miami-Dade College North Campus, North Shore Medical Center, and the Opa-Locka aviation district with proximity to cargo, charter and customs facilities.
UC-MM | Core Mixed-Use Zoning delivers best-in-class development rights:
125 Units per Acre
15 Story Building Height
325 Units by right
Ground-floor commercial retail permitted
No underground parking required (major cost savings)
SB-102 eligible with projected 500± units and reduced basis ($15,800/door)
Fully de-risked + investor-ready:
-Clean Phase I Environmental completed by Dynatech Engineering Corp
- ALTA Survey 3 years old
- 40-Year Recertification completed
- Sprinklers certified + compliant
- Brand-new 2024 HVAC system with warranty
- Brand-new electrical system + infrastructure upgrades
- Folio: 3021280280961
Unmatched accessibility & retail demand submarket:
Located at NW 27th Ave & NW 119th St, a major north-south retail and commuter artery, minutes from Miami Gardens, Miami Lakes, City of Opa-Locka and key destinations including:
Miami-Dade College North Campus, North Shore Medical Center, and the Opa-Locka aviation district with proximity to cargo, charter and customs facilities.
Data Room Click Here to Access
- Offering Memorandum
- Miscellaneous
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,040 SF
Building Class
B
Year Built
1994
Price
$7,900,000
Price Per SF
$562.68
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.38 AC
Zoning
BU-1A - UC-MM | Core
- 125 Units per Acre
- 15 Story Building height
- 325 Units As of right
- 3 or 4 floors of Parking
Parking
58 Spaces (4.13 Spaces per 1,000 SF Leased)
Frontage
220’ on NW 27th Ave
Amenities
- 24 Hour Access
- Pylon Sign
- Security System
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Drive Thru
- Monument Signage
- Air Conditioning
- Smoke Detector
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Free-Standing Building with Drive-Thru 18' Ceilings Pylon Signage New HVAC
| Space | Size | Space Use | Position | Available |
| 1st Floor | 14,040 SF | Retail | Outparcel | Now |
1st Floor
| Size |
| 14,040 SF |
| Space Use |
| Retail |
| Position |
| Outparcel |
| Available |
| Now |
1st Floor
| Size | 14,040 SF |
| Space Use | Retail |
| Position | Outparcel |
| Available | Now |
Free-Standing Building with Drive-Thru 18' Ceilings Pylon Signage New HVAC
Nearby Major Retailers
Property Taxes
| Parcel Number | 30-2128-028-0961 | Improvements Assessment | $693,280 |
| Land Assessment | $2,406,720 | Total Assessment | $3,100,000 |
Property Taxes
Parcel Number
30-2128-028-0961
Land Assessment
$2,406,720
Improvements Assessment
$693,280
Total Assessment
$3,100,000
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DEVELOPMENT SITE 325 Units As of right | 11920 NW 27th Ave
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