Unimproved Land in Miami
Address available upon request
Miami, FL, 33142 · MELROSE HEIGHTS 4TH SEC
$3,900,000
0 ba
About this home
The offering includes two contiguous lots totaling approximately 34,000 SF or 0.77 acres zoned T6-8-O. That means you’re looking at a by-right development potential for up to 116 multifamily units. Here’s the value-add: the site currently generates approx. $250,000.00 in annual rental income from a mix of short-term tenants across residential and commercial structures. That provides a strong carry while pursuing entitlements or finalizing plans. Add to that the Live Local Act incentives — no parking required in TOD zones, increased FAR, density, and height — and this site offers significant development upside. Just 2.5 miles from Miami International Airport and minutes from Wynwood, Downtown, and the Health District, this location combines accessibility with strong long-term potential.
Comparable residences
$3,500,000
0 ba
20401 SW 137th Avenue, Miami, FL 33177
Listing courtesy of The Keyes Company
$4,695,000
0 ba
1801 NW 54th Street, Miami, FL 33142
Listing courtesy of The Alpha Commercial Advisors LLC
$3,700,000
0 ba
2534 SW 6th Street, Miami, FL 33135
Listing courtesy of BHHS EWM Realty
$3,700,000
0 ba
2524 SW 6th Street, Miami, FL 33135
Listing courtesy of BHHS EWM Realty
$5,000,000
0 ba
1st ave NW 1st Ave 166 Street, Miami, FL 33169
Listing courtesy of Douglas Elliman
$2,995,995
0 ba
8525 SW 54th Court, Miami, FL 33143
Listing courtesy of Somi Realty, Inc.