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1552 NW 15th Ave - 45 Unit Warrant approved Live Local Dev Site 0.12 Acres of Commercial Land Offered at $1,790,000 in Miami, FL 33125
Investment Highlights
- Site Plan - Warrant Approval for 45 Live Local Act 120% AMI units
- 5 blocks to Publix, Shopping, Planet Fitness at Miami River Landings
- 4 station stops to Downtown & Brightline Station
- 100% parking reduction being in a TOD & Live Local Act Development
- 5-blocks to U-Health | Jackson Metro Mover Station
- Massive redevelopment in Hospital District including the new Allapattah CRA
Executive Summary
Develop 45 units in Miami Hospital District 5 blocks to Miami River Landings, Publix, Planet Fitness and 5 blocks to the U-heath | Jackson Metro-Mover Station. “Site Plan/Warrant Approval” for 45 units with 100% parking reduction under Live Local Act Submission. Excellent bargain on development site at $40,000/door land cost where larger dev sites have sold for over $100,000 per door land cost. Attain near a proforma 39% IRR in a growth market. Own this covered land play collecting the duplex rental income while you create construction documents and submit to the permit approval process. Estimate 9 to 12 months to permit approval from closing. Opportunity located in an upcoming neighborhood, between Wynwood, Edgewater & Little Havana w/ easy access to Brickell & Downtown. Large employers include University of Miami and Jackson Memorial Hospitals, Miami Dade College Medical Campus, & VA Miami Medical Center.
Property Facts
| Price | $1,790,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| Sale Condition | Redevelopment Project | Total Lot Size | 0.12 AC |
| No. Lots | 1 | No. Stories | 1 |
| Property Type | Land | ||
| Zoning | T6-8-R - Warrant Approved Plans for Live Local Act 120% AMI development of this TOD T6 Zoned site. Covered Land Play as existing duplex provides income. | ||
| Price | $1,790,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.12 AC |
| No. Stories | 1 |
| Zoning | T6-8-R - Warrant Approved Plans for Live Local Act 120% AMI development of this TOD T6 Zoned site. Covered Land Play as existing duplex provides income. |
1 Lot Available
Lot 1
| Price | $1,790,000 | Lot Size | 0.12 AC |
| Price Per AC | $14,435,483.87 |
| Price | $1,790,000 |
| Price Per AC | $14,435,483.87 |
| Lot Size | 0.12 AC |
Develop 45 units in Miami Hospital District 5 blocks to Miami River Landings, Publix, Planet Fitness and 5 blocks to the U-heath | Jackson Metro-Mover Station. “Site Plan/Warrant Approval” for 45 units with 100% parking reduction via Live Local Act
Exceptionally walkable
90/100
Fairly drivable
50/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 01-3135-010-0250 | Improvements Assessment | $78,607 |
| Land Assessment | $432,000 | Total Assessment | $510,607 |
Property Taxes
Parcel Number
01-3135-010-0250
Land Assessment
$432,000
Improvements Assessment
$78,607
Total Assessment
$510,607
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1552 NW 15th Ave - 45 Unit Warrant approved Live Local Dev Site