861 SW 1st St, Miami, Florida, 33130

861 SW 1st St
Miami FL 33130

Property

Ownership: Commercial
Type: Land

Financials

Price: $4,990,000
Annual Taxes: $11,641
888 Biscayne Blvd # Unit CU9 Miami, FL 33132
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

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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

More listings:

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.