Description
The offering includes two contiguous lots totaling approximately 34,000 SF or 0.77 acres zoned T6-8-O. That means you're looking at a by-right development potential for up to 116 multifamily units. Here's the value-add: the site currently generates approx. $250,000.00 in annual rental income from a mix of short-term tenants across residential and commercial structures. That provides a strong carry while pursuing entitlements or finalizing plans. Add to that the Live Local Act incentives - no parking required in TOD zones, increased FAR, density, and height - and this site offers significant development upside. Just 2.5 miles from Miami International Airport and minutes from Wynwood, Downtown, and the Health District, this location combines accessibility with strong long-term potential.
Details
| MLS # | A12049108 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 110 |
| Listing Provided By | RE/MAX 360 Real Estate | Agustin Duarte |
Features
| Zoning | 6100 |
|---|---|
| Acreage | 0.77 |
Exterior
| Lot Features | One To Two Acres, Two To Three Acres, City Lot |
|---|
Taxes
| Tax Annual Amount | 34774 |
|---|
Area Information
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami |
| Zip Code | 33142 |
| Area | 2310 |
| Community Name | MELROSE HEIGHTS 4TH SEC |
| Listing VS Median (in MELROSE HEIGHTS 4TH SEC) | |
Price: $3,900,000 low | high Med: $226,750 On site: 110 low | high Med: 229 | |
Market Activity 33142
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Learn More About This Property
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami |
| Zip Code | 33142 |
| Area | 2310 |
| Community Name | MELROSE HEIGHTS 4TH SEC |
| Listing VS Median (in MELROSE HEIGHTS 4TH SEC) | |
Price: $3,900,000 low | high Med: $226,750 On site: 110 low | high Med: 229 | |
 | $3,290,0003035 Nw 40th StreetMiami, FL 33142 |