Available For Sale - Land

63,724 SF | Show Pricing $

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AVAILABILITY DETAILS

Size
63,724 SF
Price/SF
Show Pricing $
Listing ID
SA431506
Notes
FA Commercial is pleased to present this exclusive listing; A three-lot development site totaling over 1.4 acres in the city of North Miami. The site is located within the future North Miami Transit Station Overlay District (NMTSOD) and is 500 ft from the new Virgin Trains USA station coming to North Miami. The subject property is easily accessible to the Aventura, Sunny Isles, and Miami Shores employment centers, as well as the Brickell, CBD, Hialeah/Miami Airport, and the Golden Glades submarkets.



* The subject property is a proposed fifteen-story residential rental project that will contain 219 units

* Lot size: 480' x 125'

* Project will also include 6,500 SF of ground floor retail on the corner of NE 125th St and NE 13th Ave

* 252 parking spaces (1.2 parking spaces per unit)

* Total current Income: $20,000 per month

* Total current Expenses: $18,000 per month

* 7,800 SF office building on the property also available for lease

* Located in mature residential submarket, which has seen limited development of new multifamily projects.

* The overall rent growth has been positive in the last five years (3%-4% annually) and is expected to keep increasing at a similar pace



Click here for offering memorandum: https://facommercial.com/propert...



Click here for property video: https://youtu.be/fcphKyqBVp4
Uses
Land

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Fabio Faerman, FA Commercial