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2797 SW 27th Ter - Grove Center Condo 0.23 Acres of Commercial Land Offered at $3,300,000 in Miami, FL 33133
INVESTMENT HIGHLIGHTS
- Primary Zone: T5-O 1 single-family home & 1 duplex
- T5-O zoning
- Between Coconut Grove & Brickell Within the TOD
EXECUTIVE SUMMARY
The offering is comprised of (1) single-family home & 1 duplex totaling +/- 10,000 feet of land. The lot(s) assemblage allows 75 units via Live Local on (8) floors reducing parking by 80-85%. This development could deliver the Highest & Best Use as a boutique condo building or a more traditional rental building.
The lots benefit from favorable T5-O zoning. The property sits in the TOD (Transit Orient Development Boundary) allowing for even greater density and intensity and a complete elimination of parking requirements. The property abuts the underline directly to the South. In our analysis, the highest and best use is as redevelopment for a mixed-use project with 75 units via Live Local on (8) floors
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $3,300,000 | Lot Size | 0.23 AC |
| Price Per AC | $14,351,819.64 |
| Price | $3,300,000 |
| Price Per AC | $14,351,819.64 |
| Lot Size | 0.23 AC |
The lots benefit from favorable T5-O zoning. The property sits in the TOD allowing for even greater density and intensity and a complete elimination of parking requirements. The property abuts the underline directly to the South
DESCRIPTION
RE/MAX 360 proudly presents a prime redevelopment Directly along The Underline "GROVE CENTER CONDO". The offering is comprised of (1) single-family home & 1 duplex totaling +/- 10,000 feet of land. The lot(s) assemblage allows 75 units via Live Local on (8) floors reducing parking by 80-85%. This development could deliver the Highest & Best Use as a boutique condo building or a more traditional rental building. The lots benefit from favorable T5-O zoning. The property sits in the TOD (Transit Orient Development Boundary) allowing for even greater density and intensity and a complete elimination of parking requirements. The property abuts the underline directly to the South. In our analysis, the highest and best use is as redevelopment for a mixed-use project with 75 units via Live Local on (8) floors.
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2797 SW 27th Ter - Grove Center Condo
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