201 SW 37th Ave - Coral Gables Border Covered Land Play 0.19 Acres of Commercial Land Offered at $1,600,000 in Miami, FL 33135

DWNTWN Realty Advisors is pleased to exclusively present 201 & 211 SW 37th Avenue (the "Property"), an 8,069 SF, T6-8-O zoned urban infill development site located at a signalized corner of SW 37th Avenue (Douglas Road) in Miami's Coral Way corridor, directly on the Coral Gables / West Little Havana border. The Property comprises two contiguous folios, a 4,039 SF improved parcel and a 4,030 SF vacant parcel, totaling 0.185 AC. Existing improvements are limited to a 468 SF office/retail building delivered in 1984 with asphalt paving, perimeter fencing, and an aluminum carport, leaving the site effectively clear for redevelopment.
T6-8-O zoning under Miami 21 supports mixed-use and multifamily redevelopment at moderate density. An estimated by-right massing accommodates seven residential stories of concrete block construction over one floor of ground-level parking, with approximately 25 parking spaces supporting a program of roughly 20 to 25 units. The site's dimensions alternatively fit four fee-simple townhomes of approximately 2,000 SF each, a product type validated by new-construction townhomes in the Property's own 33135 zip code trading at $723 to $783 per SF. Buyers can pursue either path, or hold the site as income-producing land while entitling their preferred scheme.
The Property produces interim income from an in-place outdoor advertising lease with Clear Channel Outdoor, amended and restated April 1, 2025, running through March 31, 2031 at a base rent of $10,000 per year escalating to $11,592.74 per year by the sixth year, plus a percentage-rent component equal to 43% of net advertising revenue above base. The former automotive-sales yard, most recently leased at $5,500 per month, has been vacated and its lease expires at the end of 2026, after which the space is available for re-leasing at the buyer's discretion. At an asking price of $1,600,000, the Property prices at $198 per SF of land, in line with the $199.58 per SF average of five recent fee-simple land sales in the surrounding corridor. This is a covered land play with income in place today and a clear redevelopment path tomorrow, on one of the most trafficked north-south corridors on the Coral Gables border. Expansion Potential: Immediate path to double the total site footprint via contiguous adjacent parcel acquisition. Contact broker for more info.