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7610 W Flagler St 0.78 Acres of Commercial Land for Lease in Miami, FL 33144
Highlights
- Allows for a wide range of commercial and residential uses
- Access to major roadways
- High-density, mixed-use zoning
- Minutes from Downtown Miami
LOT Available
Display Rental Rate as
| Rental Rate |
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Lot Size | 0.78 AC |
| Lease Term | 10 Years |
| Rental Rate | |
| Lease Term | 10 Years |
| Lot Size | 0.78 AC |
7600 W Flagler St - Multi Use – Units Site 0.77 Acres of Residential Land Executive Summary Sigma Real Estate is pleased to offer a unique assemblage opportunity in Miami, Florida. This assemblages features a retail center as well as a mixed use building, featuring ground-floor offices and residential units above. This assemblage stands out as an attractive redevelopment opportunity in a rapidly growing and revitalizing neighborhood, ideal for investors seeking to capitalize on the growing demand for housing. Miami, in the heart of Miami, is nestled between Miami’s central business district and the Miami International Airport. This neighborhood, rich in history and cultural vibrancy, has attracted a diverse population and has become a focal point for social, cultural, and political activities. Recently, Miami has seen a surge of redevelopment and investment. Property Facts • Sale Conditions: o Redevelopment Project • Individually For Sale 1 • Sale Type: o Investment • Total Land Area: o 0.77 AC • Number of Properties: o 4 Properties Address Folio Size Year Built Property Type 7600 w Flagler St, Miami Fl. 33144 30-4002-008-0130 9,570 1974 COMMERCIAL: VACANT LAND 7600 w Flagler St, Miami Fl. 33144 30-4002-008-0093 5,050 1974 COMMERCIAL: VACANT LAND 7601 w Flagler St, Miami Fl. 33144 30-4002-008-0140 11,000 1974 VACANT RESIDENTIAL: VACANT LAND 29 SW 76th Ct, Miami, FL 33144 30-4002-008-0094 8,250 1974 MULTIFAMILY Property Overview The subject property is located directly off the palmetto Hwy. The property benefits from its prime location in a dense residential corridor and being surrounded by a myriad of amenities, retailers and transportation access. Nearby retailers include The Home Depot, Costco, Walmart Supercenter, CVS, Walgreens, Presidente Supermarket, Dollar Tree, Publix, Wawa Gas Stations, and more. Additionally nearby transportation includes three Metrorail stations, an Amrak station, a Tri-Rail Station and a Tri-Rail/Metrorail Transfer station. Live Local Act The "Live Local Act," recently enacted as Senate Bill 102 in Florida, represents a significant legislative advancement aimed at tackling the state's pressing affordable housing crisis. This comprehensive initiative allocates $711 million for the current fiscal year and is set to provide a remarkable $1.5 billion over the next decade to support and implement robust affordable housing policies. Key features of the Act include the introduction of new tax incentives designed to stimulate investment in affordable housing developments, as well as provisions that limit opposition from local governments to such initiatives. Furthermore, the Act empowers local governments by requiring them to facilitate multifamily and mixed-use developments in areas zoned for commercial and mixed-use, provided that at least 40% of the units are designated as affordable for a minimum of 30 years, serving individuals with incomes up to 120% of the adjusted median income (AMI). This strategic approach not only promotes affordable housing availability but also incentivizes diversification in housing options within urban settings. In addition, the legislation enhances funding for critical programs such as the State Apartment Incentive Loan (SAIL) and the State Housing Initiatives Partnership (SHIP), which together channel substantial resources towards the construction and preservation of affordable housing. With $150 million dedicated to SAIL, developers can access low-interest loans for key projects, while $252 million in SHIP funds will bolster local government efforts in partnership creation to increase affordable housing production. The Act also introduces property tax exemptions for newly constructed affordable housing developments and allows local governments to establish their own tax incentive programs, thereby encouraging community development and making it financially feasible for developers to prioritize affordability. Moreover, it includes a specific focus on supporting frontline workers through the Florida Hometown Hero Housing Program, which offers mortgage support for eligible individuals in essential services. Overall, the "Live Local Act" signifies a proactive and multifaceted approach to addressing Florida's affordable housing challenges, aligning economic growth, community well-being, and the provision of affordable living spaces for its residents, thereby promoting a more sustainable and inclusive future for the state. For more information, visit City of Miami Zoning Information Urban Center Transect T5 https://gis.miamigov.com/Miami21Docs/T5.PDF The area has a population of about 40,056. Population density: Flagami: 6,942 people per square mile Miami: 12,600 people per square mile Read more: https://www.city-data.com/neighborhood/Flagami-Miami-FL.html Market Drivers 1. Mall Next to Hwy 2. Westland Mall Hialeah Redevelopment 3. Northside Center Mall 4. Hialeah Park Casino 5. Airport 6. The Home Depot 7. Costco 8. Northside Metrorail Station 1.8 miles 7 minutes 9. Dr. Martin Luther King Junior Metrorail Station 2.1 miles 7 minutes 10. Miami Amtrak Station 2.3 miles 8 minutes 11. Tri-Rail/Metrorail Transfer Station 2.5 miles 11 minutes 12. The Leah Arts District 3.0 miles 11 minutes 13. Hialeah Metrorail Station 3.8 miles 20 minutes 14. Miami Shores Country Club 4.1 miles 12 minutes 15. Amelia Earhart Park 4.4 miles 12 minutes 16. Miami Watersports Complex 5.1 miles 14 minutes 17. Hialeah Park Casino 5.2 miles 15 minutes 18. Hialeah Market Tri-Rail Station 5.2 miles 20 minutes 19. Wynwood 5.9 miles 17 minutes 20. Miami International Airport 7.2 miles 18 minutes 21. Brightline's MiamiCentral Station 8.0 miles 17 minutes 22. North Beach 8.2 miles 20 minutes 23. Miami Health District 8.3 miles 16 minutes 24. PortMiami 9.8 miles 18 minutes Confidentiality & Disclaimer Statement This is a confidential Offering Memorandum intended solely for your own limited use to determine whether you wish to express any further interest in the property. This confidential memorandum contains brief, selected information pertaining to the business and affairs of the Site and has been prepared by Sigma Real Estate International Florida, LLC, primarily from information supplied by the Owner. Although this confidential memorandum has been reviewed by representatives of the Owner, it does not propose to be all-inclusive, nor does it contain all the information which a prospective purchaser may require or desire. Neither the Owner, nor any of its officers, directors, employees or agents, nor Sigma Real Estate International Florida, LLC, makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents, and no legal liability is assumed or is to be implied by any of the aforementioned with respect thereto. Prospective offerors are advised to verify the information
Property Overview
• Zoning Breakdown: o BU-1A (Limited Business District) ? Allows a variety of commercial uses: retail, offices, limited service businesses. ? Potential for mixed-use or ground-floor commercial with upper-floor residential (subject to County approvals). o RU-2 (Two-Family Residential District) ? Duplex or two-family residential uses allowed by right. ? Potential for subdividing if Code requirements are met (minimum frontage, lot area, setbacks, etc.). ? Can incorporate multifamily redevelopment, subject to Miami-Dade regulations. • Development Notes: o Attached Miami-Dade County zoning letters confirm each folio’s zoning designation. o Any new construction must comply with County codes, concurrency rules, and any site-specific covenants or resolutions (e.g., Resolution No. Z-39-92, declarations of restrictions, etc.). ________________________________________ Slide 5: Location & Market Drivers • Strategic Positioning: o Direct frontage on W Flagler St with immediate access to Palmetto Expressway (SR 826). o Surrounded by national retailers (Home Depot, Costco, Walmart), pharmacies (CVS, Walgreens), and grocery/quick-serve (Publix, Presidente, Wawa). • Transit & Access: o Nearby Metrorail, Tri-Rail, and Amtrak stations; close to Miami International Airport. o High population density corridor with strong demand for housing and commercial services. • Growth & Legislation: o Live Local Act (SB 102) provides incentives for affordable and mixed-use housing, potentially boosting ROI for new developments. o Ongoing urban revitalization in the Miami area, with continued residential and commercial growth. ________________________________________ Slide 6: Site Aerials & Visuals • Aerial Maps o Highlighting each lot’s boundaries, access points, and surrounding amenities. • Images/Renderings (if available) o Potential concept for mixed-use development (retail + residential) or purely commercial. o Multifamily redevelopment scenarios. ________________________________________ Slide 7: Financial & Tax Data Highlights • Property Appraiser Values: o Combined 2023 Market Value (all four folios): over $1.9M (according to property appraiser). o Detailed breakdown per folio (see Slide 3). • Tax History & Assessments: o Non-Homestead Cap reductions apply to certain parcels. o Deeds include multi-parcel sales and QCD (Quit Claim Deeds). • Potential Value Add: o Up-zoning or site-plan approvals could significantly increase future land value. o Existing RU-2 lot with a multifamily structure can produce income during entitlement. ________________________________________ Slide 8: Investment Opportunity & Next Steps • Summary of Potential: o Rare assemblage with dual zoning (commercial + residential) offers wide flexibility. o Prime for a mixed-use concept, standalone commercial, or a blend of retail and residential. o High traffic counts and a strong local economy increase long-term asset value. • Next Steps: o Complete due diligence on site conditions, entitlements, and concurrency. o Review the full Confidential Offering Memorandum and official zoning letters/resolutions. o Engage with Miami-Dade County on potential development scenarios. ________________________________________ Slide 9: Disclaimers & Confidentiality • Disclaimers: o Data from the Miami-Dade County Property Appraiser may be subject to ongoing updates; verify independently. o Zoning letters provided do not guarantee conformance of existing structures and uses; buyers must confirm all building code compliance. o Potential development may require public hearings, site-plan approvals, and concurrency with local agencies. • Confidentiality Notice: o This presentation is intended for qualified investors and is not for public distribution. o All attached files and any related discussions are to remain confidential unless expressly authorized.
Property Facts
Presented by
Viva Investment
7610 W Flagler St
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