Description
This property sits in the new Wynwood Norte zoning overlay and is zoned T4. You can build up to 16 units and up to 3 stories. This is one of the larger lots with over 7,000 sf. Taking into consideration maximum lot coverage of 60% and 3 stories, there is the potential of sixteen 787 SF 2 bedroom units. Rents in the area continue to rise, helping with the overall profitability of new development projects. Current tenant rents help offset holding costs. Parking may be satisfied through payment in lieu into the applicable Parking Trust Fund. Buyer is responsible for all due diligence and verifying development potential. Do Not Disturb Tenants.
Location
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3,312 Sq ft
$4,095,000
MLS# A11223993
Courtesy of: One World Properties
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Courtesy of: All Realty Management, LLC. MIAMI Association of REALTORS® is not responsible for the accuracy of the information listed above. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program and the South East Florida Regional MLS and is provided here for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than the office owning this website are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Data provided is deemed reliable but not guaranteed. Copyright MIAMI Association of REALTORS®, MLS All rights reserved. Updated: 6th July, 2022 9:50 PM (UTC)
