MSP Group LLC is proud to be appointed the exclusive listing agent for Tropic Place Apartments, a 16-unit multifamily development site located at 3728 NW 19th Avenue in Miami, FL. The 11,100 SF lot and is zoned T5-L for medium density residential and retail mixed-uses. The project is truly shovel-ready, has all impact fees paid, and all building permits are in-hand. A new owner could begin construction immediately. The building will consist of 21,363 gross SF, with 14,585 of net rentable SF divided into 3 stories: the first being for 16 parking spaces and one apartment unit with floors 2 and 3 being residential units. The unit mix is planned to be two 1-bedroom units, five 2-bedroom/1-bathroom, and nine 2-bedroom/2-bathroom units.
Located in the bustling Allapattah submarket, the subject property grants tenants with numerous retail, dining, entertainment, schooling, and employment selections. Presidente Supermarket, as well as McDonald’s, Marathon, Chevron, Fresco y Más, Boost Mobile, Little Caeser’s, Winn-Dixie, Metro by T-Mobile, Marathon, and Wendy’s are all in the immediate area. Future residents of Tropic Place Apartments will also benefit from schooling options in the area include Miami Jackson Senior High School directly across NW 19th Avenue as well as George Jones-Ayers Middle School located just 1.2 miles from the property.
Miami International Airport, responsible for a $32 billion economic impact and over 275,000 jobs, is located just 2 miles from the property. Downtown Miami is located just 5 miles to the east, via I-95, and offers a plethora of dining, entertainment, and banking options, which also serve as employment opportunities. These main areas can be easily accessed by main roadways and highways located near the property. I-95 is directly available by a 2-mile drive through FL-112. SR-836, also known as the Dolphin Expressway, is a major east-west highway in Miami and is accessible by a 3-mile drive. Earlington Heights Metrorail Station, located directly across FL-112, provides tenants access to public Metrorail and bus routes.
In addition to this development opportunity having the rare attribute of being truly shovel-ready, it also happens to be located in an IRS Designated Opportunity Zone, which may carry additional tax benefits to the right buyer.
