116 S Miami Ave
Miami, FL 33130 City Center Miami

$3,000,000 USD

Land For Sale • 0.1 AC

Property Details

Property Type Land
Lot Size 0.1 AC
Zoning T6-80-O

100 Transit Score

96 Walk Score

Description

Stand Alone Retail building in heart of downtown Miami, FL.  Investor potential for proforma 6% cap rate once leased or new owner.   Owner to vacate upon sale.  The bonus is this may be a potential Downtown Miami Development Site.  Potential to build up to 102 units as in a Transit Oriented Development (“TOD”) area by way of a Live Local/SB-102 Act submission.  Zoned T6-80-O.  Located close to the major new Luxury Developments, Flagler Street Pedestrian Promenade & a block to the Miami Ave Metro-station at SE/SW 1st Street.  Minutes to Brickell City, Miami World Center, or Kaseya Centers; Arts & Entertainment District, Bayfront Park; or via Miami Central Station connect to Miami’s Airport or Brightline.  Daily shopping options: Whole Foods, Publix & Aldi.  Site set amongst tourist destinations, office buildings, dining/nightlife spots, & attractions.

                
                    Highlights
                
                                Near 2 metro stations | Transit Oriented Development Site “TOD” & Live Local Act Potential
                            
                                Existing stand alone retail building with potential proforma 6% Cap Rate when leased up.
                            
                                On S. Miami Ave with direct access over the Bridge to Brickell City Center
                            
                                Build up to 180 units asking $7.499 mm for the assemblage of 116 & 122 S Miami Ave properties
                            
                                Walking distance to Publix, Aldi & Wholefoods