75 West Palm Drive - Ocean Gate 4.28 Acres of Commercial Land Offered at $16,000,000 in Florida City, FL 33034

Seize this rare, shovel-ready mixed-use apartment development opportunity on a 4.28-acre parcel at the gateway to the Florida Keys, in the heart of Florida City—part of rapidly growing Miami-Dade County, which ranked second in U.S. population growth last year with a 2.3% increase. This fully entitled land parcel, located at the prime AAA corner of Palm Drive (344th Street) and Krome Avenue (177th Avenue), is zoned for Transit-Oriented Development (TOD) and adjacent to the Metro-Dade bus park-and-ride station—the last major transit hub before the Keys. Featuring two identical eight-story buildings totaling 324 market-rate residential units (with approvals for workforce housing options), the project potentially includes ground-level commercial space while excluding outparcels and retail components. Delivered with site plan approval, T-plat in place, land filled to grade, and utilities (water and sewer) adjacent, this TOD-designated site significantly reduces entitlement and development risks—closing scheduled for Q1 2026. Adjacent to Lennar Homes' active multifamily developments, investors can leverage Qualified Opportunity Zone (QOZ) tax advantages, including capital gains deferral and exclusion, plus flexible options like surface parking (lower cost than structured) or short-term owner financing upon discussion. Capitalize on a high-demand rental market with average rents for new Class A multifamily in Florida City and Homestead ranging from $2,000 to $2,600 per month, projecting 2.6-5% annual growth amid population influx. This strategic, large-scale entitled site supports a mixed-income strategy targeting mid-rent segments, fueled by strong local demand from Homestead Air Reserve Base, Baptist Hospital, FedEx, UPS, Amazon, and major distribution centers within a 5-mile radius. Convenient location highlights: Major outlet malls just steps away, featuring top national brands; Walmart & Home Depot within a 1-mile radius; Homestead-Miami Speedway located just 3 miles away—only a 10-minute drive. Contact us to discuss alternate site plans and unlock this unparalleled QOZ upside. Executive Summary Location: 75 West Palm Drive, Florida City, Fl. Land Area: 4.28 acres (˜196,020 SF), fully entitled Buildings: 2 × Identical 8-story mixed-use towers Building 1: 162 units Building 2: 162 units Total Units: ˜ 324 Zoning: Transit-Oriented Development (TOD) Opportunity Zone: Yes — federal capital gains benefits Infrastructure: Sewer & water adjacent to site ; site filled to grade Purchase Price: $16,000,000 Short term owner financing can be discussed Retail component not included Operating Memorandum Highlights 1. Investment Highlights Strategic Location: Gateway to the Florida Keys; adjacent to Miami-Dade transit hub (bus park-and-ride). TOD zoning Entitlements & Infrastructure: Fully entitled, T-plat approved, utilities adjacent to property, filled to grade — significantly reduces entitlement and development risk. Tax Advantages: Opportunity Zone designation offers capital gains deferral/exclusion. 2. Development Program Density: ~324 units across 2 identical towers. Parking: Surface parking (lower cost vs. structured). 3. Market Positioning Florida City = fastest-growing city in Miami-Dade County. Market rate rent: also approved workforce housing Strategically located: adjacent to Lennar’s project, the site comprises 174 townhomes and includes a public park—enhancing both community appeal and long-term value. Scheduled for completion in Q1 2026. Lennar, DR Horton, and other top national builders: are actively developing over 5,000 residential units within a two-mile radius, with thousands more in the pipeline through entitlements and permitting. The area is experiencing rapid growth and sustained investment momentum. 4. Risks & Mitigation Development Risk: Fully entitled + utilities adjacent in place reduces delay risk. Parking: Reduced capex with surface parking Summary & Recommendations Strategic Fit: Rare large-scale, entitled TOD site with Opportunity Zone upside. Market Consideration: Mixed-income strategy focusing on mid-rent segments Strong Florida Keys demand: Homestead Air Force Base, Baptist Hospital, FedEx, UPS, Amazon, Major distribution centers within a 5 mile radius. Convenient Location Highlights: ??? Major outlet malls just steps away, featuring top national brands ?? Walmart & Home Depot all within a 1-mile radius ?? Homestead-Miami Speedway located just 3 miles away—only a 10-minute drive