$2,590,000196 days on marketActive

8270 NE 1st Place, Miami, FL 33138

Miami, FL 33138

Sq Ft

1941

Year Built

0.29 acres

Lot Size

Listing Snapshot

List Price	$2,590,000
Beds	0
Baths	0
Living Area	0 sqft
Lot Size	0.29 acres

Year Built	1941
Property Tax	$14,371/yr
MLS #	1146607000
Status	Active
Days on Market	196

About This Home

Covered land opportunity in the heart of Miami’s rapidly evolving Little River neighborhood. The property is zoned T5-O, allowing for a range of mixed-use residential and commercial development possibilities within Miami’s urban core. By-right, the zoning allows for a mixed-use or multifamily project of up to 19 units and 5 stories before bonuses with office and retail components optional, and the site located within an Opportunity Zone and with Live Local Eligibility which would allow for up to 292 units and 8-12 stories. Situated right on the cusp of the T6-8-O district, there could also be an up-zoning play based on recent precedent and direct proximity to the boundary. The site is currently improved with a fully renovated five-unit compound (four multifamily units and one single-family residence) providing the potential for interim income while development plans are pursued. The majority of the property is currently being rented as short-term rentals and thrives in an AirBnB model but would be just a suitable for traditional month-to-month or annual rentals, as well as rented on a master lease to a commercial use such as a school, artist campus, health and wellness facility, etc.