221 NW 16th Ave - Apartments FOR SALE


Miami, FL 33125
$1,200,000 USD
305-340-8901
221 NW 16th Ave, Miami, FL for Sale
$1,200,000 USD
Apartments - FOR SALE
1/20
null | Request Cap Rate

221 NW 16th Ave
Miami, FL 33125


HIGHLIGHTS

  • The property is a short driving distance of the Magic City Innovation District located in the MiMo District
  • The 15 acre development will attract technology companies and retailers.
  • The $1 billion project will be developed in multiple phases over several years with the beginning focused on repurposing existing dilapidated factory
  • 170,000 SF of industrial space would be converted to commercial and retail use, with plans for an office tower, amphitheater and apartment

OVERVIEW

Exceptional property in Little Havana with immediate access to the 836 HWY, I-95 and Brickell. 1950s, four unit apartment building on a 5,000 SF lot zoned T5-L which allows short-term rentals. Apartments are 4: 1 Bedroom, 1 bath with identical floor plans. Within 5 minutes of Brickell and Downtown, and immediately across the Loan Depot Marlins Park. This is an exceptional covered land play for savvy investors and future developers who are looking at getting their foot into this dynamic submarket. Given its small size it has the great benefit of being exempt from 40 yr certification requirements - a no hassle easy building to operate for owners. Central to key employment centers of Miami. Walkable to Calle echo and the arts and entertainment hub of the neighborhood. Residential financing allows for a great land banking strategy on this property. Live here and build your initial investment in this booming real estate market - Miami’s nationally recognized Little Havana neighborhood is known for its culturally- rich and colorful lifestyle.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$572 USD /SF

# OF UNITS

4

PRICE/UNIT

$300,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1952

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

5,009 SF

ZONING

6107

APN/PARCEL ID

01-4102-005-8220

ASK ABOUT THIS PROPERTY

Mauricio VillasusoFausto Commercial Realty ConsultantsMore Info
305-340-8901

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Mauricio VillasusoFausto Commercial Realty ConsultantsMore Info
305-340-8901

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.