This fully entitled land parcel, located at the prime AAA corner of Palm Drive (344th Street) and Krome Avenue (177th Avenue), is zoned for Transit-Oriented Development (TOD) and adjacent to the Metro-Dade bus park-and-ride station—the last major transit hub before the Keys. Featuring two identical eight-story buildings totaling 324 market-rate residential units (with approvals for workforce housing options), the project potentially includes ground-level commercial space while excluding outparcels and retail components. Delivered with site plan approval, T-plat in place, land filled to grade, and utilities (water and sewer) adjacent, this TOD-designated site significantly reduces entitlement and development risks—closing scheduled for Q1 2026. Adjacent to Lennar Homes' active multifamily developments, investors can leverage Qualified Opportunity Zone (QOZ) tax advantages, including capital gains deferral and exclusion, plus flexible options like surface parking (lower cost than structured) or short-term owner financing upon discussion. Capitalize on a high-demand rental market with average rents for new Class A multifamily in Florida City and Homestead ranging from $2,000 to $2,600 per month, projecting 2.6-5% annual growth amid population influx. This strategic, large-scale entitled site supports a mixed-income strategy targeting mid-rent segments, fueled by strong local demand from Homestead Air Reserve Base, Baptist Hospital, FedEx, UPS, Amazon, and major distribution centers within a 5-mile radius. Convenient location highlights: Major outlet malls just steps away, featuring top national brands; Walmart & Home Depot within a 1-mile radius; Homestead-Miami Speedway located just 3 miles away—only a 10-minute drive. Contact us to discuss alternate site plans and unlock this unparalleled QOZ upside.
Manuel Garcia
Gem Real Estate Group
