MELROSE REDEVELOPMENT
3440 NW North River Dr
Miami, FL 33142
Highlights
- 0.77 Acre with +/- (2) structures, both Resi. & Commercial property
- $216,000.00 rent in place
- Seller Financing
- Redevelopment Potential for 116 Units
- 250 Linear Feet on highly traveled NW 36 Street\
- Along NW 36 Street
- Between Palmer Lake Area & Allapattah 2,5 miles from Miami International Airport T 6 -8 O zoning/ 150 units per acre
- 3520 NW 33 AVE & 3340 NW 36 ST
- Land Size: .77 Acre
- Zoning : T 6-8 O
- Parcel ID :01-3128-013-3450 & 01-3128-013-3440+/- 250 Linear feet on NW 36 street
- Asking $4,750,000.00
Description
RE/MAX 360 proudly presents a prime redevelopment opportunity in the vibrant WOW District:
"MELROSE REDEVELOPMENT
116 units with EXISTING INCOME."
This offering includes two contiguous ( 3340 NW 36 ST) lots on 36th Street, totaling approximately 0.77 acres or around 34,000 square feet. The property features a commercial auto dealer storefront of about 1,000 square feet on the western lot, and a residential duplex with approximately 2,800 square feet on the corner.
Both structures are currently occupied by short-term tenants, generating an annual rental income of $216,000.
The lots benefit from favorable T6-8 O zoning, which allows for development density of 150 units per acre "by right."
The submarket extends north from the City of Miami Gardens to the Allapattah neighborhood to the south, bordered by I-95 on the east. This area includes the Hard Rock Stadium—home to the Miami Dolphins, Orange Bowl, Miami Open, and the Miami Grand Prix for Formula One. It is approximately 15 miles from the retail and entertainment centers of Downtown Miami and the Brickell office hub, and about 17 miles from Miami Beach.
Construction has surged in the southern Allapattah neighborhood, just west of the popular Wynwood area, as it develops its own arts and cultural attractions. The planned Miami Gardens City Center near the Hard Rock Stadium, focusing on mixed-use developments, is poised to boost renter demand in the region.
This offering includes two contiguous ( 3340 NW 36 ST) lots on 36th Street, totaling approximately 0.77 acres or around 34,000 square feet. The property features a commercial auto dealer storefront of about 1,000 square feet on the western lot, and a residential duplex with approximately 2,800 square feet on the corner.
Both structures are currently occupied by short-term tenants, generating an annual rental income of $180,000.
The lots benefit from favorable T6-8 O zoning, which allows for development density of 150 units per acre "by right."
The submarket extends north from the City of Miami Gardens to the Allapattah neighborhood to the south, bordered by I-95 on the east. This area includes the Hard Rock Stadium—home to the Miami Dolphins, Orange Bowl, Miami Open, and the Miami Grand Prix for Formula One. It is approximately 15 miles from the retail and entertainment centers of Downtown Miami and the Brickell office hub, and about 17 miles from Miami Beach.
Construction has surged in the southern Allapattah neighborhood, just west of the popular Wynwood area, as it develops its own arts and cultural attractions. The planned Miami Gardens City Center near the Hard Rock Stadium, focusing on mixed-use developments, is poised to boost renter demand in the region
