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Development Site in Miami
Price: $675,000
7,750 SQFT Corner Redevelopment Lot in Miami
Liberal T68O zoning allows for 8 stories and27 units apartments
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TABLE OF CONTENTSProperty Summary
Property Description
Property Photos
Location Map
Business Map
Demographics
Zoning Description
Motto Mortgage
PROPERTY SUMMARY
Property SummaryProperty Type Commercial
Primary Land Use Mixed Use
Purchase Price $675,000
Available SF 3,087 Sq.Ft.
Lot Size 7,750 Sq. Ft.
Municipal Zoning T68O
Property OverviewThere are two buildings on the property. One is a single familyresidential home of 1,242 sqft the other is a two story building of 1,845sqft with two residential apartment units on the second floor. The firstfloor has been zoned for commercial use. Both buildings are situatedon a 7,750 sqft lot.
Location OverviewLittle Havana consists of 1,500 acres. It has the highest populationdensity in the City of Miami close to some 60,000 residents. 20% ofMiami’s rental housing stock is located in Little Havanna. More than 87percent of the rental properties go for less than $1,000 a month. Astrong revitalization of the city neighborhood is in progress with severalnew development projects within the vicinity. Recent new developmentprojects that have been approved by the city commissioner in LittleHavanna include apartment, office and condo buildings, hotels andmixeduse projects on land zoned for industrial uses.
PROPERTY DESCRIPTION
Just repriced! Located in Little Havana, 424 SW 22nd Ave. can be purchased as a future redevelopment site or as aninvestment property. There are two physical buildings on the lot measuring 1,845 and 1,242 SQFT for a total of 3,087rentable square feet. The total lot size measures 7,750 SQFT. The second floor of the properties consists of two builtoutresidential units that can start producing income along with the first floors are commercially oriented. Zoning: T68O (UrbanCenter Transect) allows for many uses such as residential, office, general commercial, hotel, and even storage. The totaldensity allows for 150 units per acre or 27 units with a zoning height of 8 stories. New development projects are becomingvery popular in this area with a new Class A residential tower located on the adjacent block called Columbus on Fifth, whichconsists of 72 units. Units in this building rent for as much as $1,600 per month. Capitalize on exposure and future growthof this community! Call for more information.
The property consists of two buildings. One building has two built out residential units on the second floor, the first floor arecommercial. The other property is the second floors of both buildings contain
PROPERTY PHOTOS
LOCATION MAP
BUSINESS MAP
DEMOGRAPHICS
Population 1 Mile 3 Mile 5 Mile
Male 27,847 (49.45 %) 160,738 (49.83 %) 253,245 (49.47 %)
Loan Programs:1. 5/7/10 Year Fixed ARM'S2. 25 Year or less amortizations3. Fixed Loans4. Low Interest RatesProperty Types but not limited to:Industrial, Mixed use properties, Assisted Living Facilities, Warehouses, Health Care Facilities, Bars and Restaurants, Day care operations, Agricultural, Gas stations, Unanchored retail, Auto dealers.