8270 NE 1st Pl, Miami, FL 33138
8270 NE 1st Pl, Miami, FL 33138
8270 NE 1st Pl, Miami, FL 33138
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$2,590,000
Est. payment /mo
3,271 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,271 sqft

Price per Sqft $791

MLS Listing ID A11917999

HOA Y/N No

Year Built 1941

Annual Tax Amount $14,371

Lot Size 0.293 Acres

Property Sub-Type Multi Family

Property Description

Covered land opportunity in the heart of Miami's rapidly evolving Little River neighborhood. The property is zoned T5-O, allowing for a range of mixed-use residential and commercial development possibilities within Miami's urban core. By-right, the zoning allows for a mixed-use or multifamily project of up to 19 units and 5 stories before bonuses with office and retail components optional, and the site located within an Opportunity Zone and with Live Local Eligibility which would allow for up to 292 units and 8-12 stories. Situated right on the cusp of the T6-8-O district, there could also be an up-zoning play based on recent precedent and direct proximity to the boundary.

The site is currently improved with a fully renovated five-unit compound (four multifamily units and one single-family residence) providing the potential for interim income while development plans are pursued. The majority of the property is currently being rented as short-term rentals and thrives in an AirBnB model but would be just a suitable for traditional month-to-month or annual rentals, as well as rented on a master lease to a commercial use such as a school, artist campus, health and wellness facility, etc.

Location

State FL

County Miami-dade

Area 31

Exterior

Private Pool Yes

Others

Tax ID 01-31-12-008-0410

Virtual Tour https://www.propertypanorama.com/instaview/mia/A11917999


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Miami Association of Realtors (SEFMIAMI MLS)
Listed by The Alpha Commercial Advisors LLC

Nearby Locations

Monica Cataluña, CCIM

"We recognize that real estate ventures involve more than just transactions; they’re intricate puzzles that demand strategic thinking and a keen understanding of the numbers. With years of experience in the industry, we bring a wealth of knowledge and expertise to the table, ensuring that every client receives tailored solutions to meet their unique needs."

+1(954) 812-1831

monica@koresrealty.com

2665 Executive Park Drive, Suite 1 Weston, FL, 33331

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8270 NE 1st Pl