861 SW 1st St

Miami, FL, 33130

$4,990,000

$4,990,000
Active
Active
 - For Sale
property_type
Commercial
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.
MLS® ID:
A11217699
Listed:
6/5/22
Updated:
7/5/22

Exterior/Building Features

Lot Size
7,000 ft² lot
Architectural Style
Commercial
Lot Details
City Location, Corner Lot, Less Than 1 Acre
Sewer
Public Sanitation

Other Property Details

Area Name
Brickell Riverview
Taxes
$11641
Tax Frequency
per YEAR
Garage
No
Parking
N
View
N
County
Miami-Dade County
Utilities
Other Utilities Available, Electricity Available, Sewer Available, Water Available
Water Source
Municipal Water
Pool
No
Zoning
6110

Courtesy of Douglas Elliman

Based on information from Miami Association of REALTORS®. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS.  All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. 

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Data last updated 8:52 AM UTC, 7/5/22.

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