861 SW 1st St, Miami, Florida, 33130
Property
| Ownership: | Commercial |
|---|---|
| Type: | Land |
Financials
| Price: | $4,990,000 |
|---|---|
| Annual Taxes: | $11,641 |
888 Biscayne Blvd # Unit CU9 Miami, FL 33132 Phone: +1305-907-7555 Fax: +1305-675-0745 | |
| Courtesy of Douglas Elliman | |
Description
Site Plan Approved mixed-use 45-unit life-style dev for short-or long-term rentals & 4,330 SF of retail. Seller may submit the by-right plan change to increase to 50 units or 75 units & liquor-license, if negotiated. 20,000 SF of residential at $5/SF is $1.2 mm in gross rents based on yearly rentals. At $40/SF NNN, the retail generates $173,000 in NOI. Project valued at $21 mm when leased up. Hot Little Havana Dev on SW 1st & 9th Ave, near Downtown & Calle Ocho. Central to Brickell, Gables, Grove & Hospital District/Wynwood. Purchase Options: Close now w/ the Site Plan & 100% parking reduction approved for the 45-units + retail as-is; OR Close post permit approval & w/ proof of submission for plan change to 50 or 75 units; then Seller may complete the administrative change post-closing.
Neighborhood
Site Plan Approved mixed use 45 unit life style dev for short or long term rentals 4, 330 SF of retail.
Description
Site Plan Approved mixed-use 45-unit life-style dev for short-or long-term rentals & 4,330 SF of retail. Seller may submit the by-right plan change to increase to 50 units or 75 units & liquor-license, if negotiated. 20,000 SF of residential at $5/SF is $1.2 mm in gross rents based on yearly rentals. At $40/SF NNN, the retail generates $173,000 in NOI. Project valued at $21 mm when leased up. Hot Little Havana Dev on SW 1st & 9th Ave, near Downtown & Calle Ocho. Central to Brickell, Gables, Grove & Hospital District/Wynwood. Purchase Options: Close now w/ the Site Plan & 100% parking reduction approved for the 45-units + retail as-is; OR Close post permit approval & w/ proof of submission for plan change to 50 or 75 units; then Seller may complete the administrative change post-closing.
Neighborhood
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not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.