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- LoopNet Team
9880 W Bay Harbor Dr
Bay Harbor Islands, FL 33154
Shovel Ready Site with Existing Income · Land For Sale
·
0.52 AC
INVESTMENT HIGHLIGHTS
- Currently there are 13 leased multifamily units
- There is a proposed redevelopment for a boutique 7 story building with 30 luxury apartments with TDR's and 62 parking spaces.
- Exclusive Waterfront property and views
- Up to 36 residential units can are allowed by the RM-1 zoning with TDR - Shovel Ready Project approved for 30 Units
- Current Income of $267,480, expenses of $169,638, NOI is +/-$100,000/year
- Expansive area for docks which can be maximized by limiting the size of the slips.
PROPERTY FACTS
DESCRIPTION
APEX Capital Realty is proud to introduce the opportunity to acquire a shovel ready development site (“The Site”) with existing income in place in the exclusive Bay Harbor Islands of Miami. The site is comprised of two apartment buildings with direct waterfront views of the canal. The buildings sit on a combined lot totaling 22,500 SF / .52 Acres. The Site is prime for redevelopment and has approved plans for 30 luxury residential units with 62 parking spaces. The Site allows for multifamily or condominium development. It also offers a 150’ frontage on the canal and allows for dock spaces.
PROPERTY TAXES
| Parcel Number | 13-2227-001-0670 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $6,971,697 |
PROPERTY TAXES
