Development Site in West Little Havana 3 Multifamily Properties Offered at $4,950,000 in Miami, FL

INVESTMENT HIGHLIGHTS

  • 22,500 SF on three contiguous properties in West Little Havana
  • Income Producing Site
  • Live-Local/SB102 Development allowing over 300 units and up to 24 stories (48 with bonuses), no FLR limits.

EXECUTIVE SUMMARY

Exceptional assemblage of 22,500 SF on three contiguous properties in West Little Havana w/ T5-O zoning behind the SW 17 AV corridor. The site is best served by being entitled through a Live-Local/SB102 and 136 process. Applied to this lot, SB102 would allow well over 300 buildable units and up to 24 stories of height or 48 with bonuses, with no FLR restrictions. On one is an"Old Spanish", twelve unit apartment building on a 7,500 SF lot. Apartments are 12: one Bedroom, one bath with identical floor plans. The other two parcels on 15,000 sf are from1954, 5-unit buildings of 1 bed 1 bath. Within five minutes of Brickell and Downtown. Miami's nationally recognized Little Havana neighborhood is known for its culturally-rich and colorful lifestyle. Its location along Little Havana’s Main Street Corridor and Tourist Central of Calle Ocho/SW 7 st sets it apart. The strip attracts over 3 million tourists a year, aside from the flood of local Miamian’s who now call Calle Ocho their preferred nighttime hangout. The Property is located near the most exciting block in Little Havana, which includes Ball & Chain, Union Beer Store, El Santo Taqueria, Tower Theater, Azucar Ice
Cream, and much more, an area where retail rents are approaching $60psf. All this means an abundance of local clientele and open pocketbooks for whatever business establishes itself at this site. 17 AV fronting the property is also the main exit route from Brickell, and provides quick access to coral gables, airport, and more; with a dedicated high-frequency transit route, for excellent mobility to/from the site. Little Havana is centric to all the major employment centers of our city, with great connectivity to them, and a booming development movement which is rapidly adding higher-income rooftops to the area.

PROPERTY FACTS

Price $4,950,000
Price / SF $438.67 / SF
Cap Rate 4.62%
Sale Type Investment
Status Active
Number of Properties 3
Individually For Sale 0
Total Building Size 11,284 SF
Total Land Area 0.51 AC

PROPERTIES

PROPERTY NAME / ADDRESS PROPERTY TYPE SIZE YEAR BUILT INDIVIDUAL PRICE
1630 SW 4th St, Miami, FL 33135 Multifamily 2,689 SF 1954 -
1640 SW 4th St, Miami, FL 33135 Multifamily 2,355 SF 1954 -
1644 SW 4th St, Miami, FL 33135 Multifamily 6,240 SF 1924 -
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  • Listing ID: 35529811

  • Date on Market: 4/16/2025

  • Last Updated:

  • Address: Development Site in West Little Havana, Miami, FL