LITTLE RIVER 81

Northwest 81st Street Miami, FL 33150

 Northwest 81st Street, Miami, FL, 33150
 Northwest 81st Street, Miami, FL, 33150  Northwest 81st Street, Miami, FL, 33150  Northwest 81st Street, Miami, FL, 33150  Northwest 81st Street, Miami, FL, 33150  Northwest 81st Street, Miami, FL, 33150
FOR SALE
Property Type:
Multifamily Land
Amount:
$2,500,000
Last Verified:
Jul 09, 2024

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Highlights

  • PROPERTY HIGHLIGHTS:
  • Little River submarket
  • Directly on state road 934
  • Plan approved for 40 units
  • Live Local 124 units
  • LOCATION HIGHLIGHTS:
  • 0.50 acres directly on NW 81 street
  • Blocks from NW 7th Ave & I-95
  • Folios: 30-3111-006-0030,
  • 30-3111-006-0040, & 30-3111-006-0050

Description

RE/MAX 360 proudly presents a prime redevelopment opportunity in the exciting West Little River area: "LITTLE RIVER 81"'

The lots benefit from favorable UC-MM 6164 - UC CENTER - MAIN STREET (MM) 12 MAX HT, which prompted the current owner to design a 40-unit, five-story residential project. However, more units are feasible with today's implementation of SB 102 The Live Local Act.

The submarket: The Miami Gardens/Opa-Locka submarket runs North from the City of Miami Gardens through the neighborhood of Allapattah to the South, while bordering I-95 on its Eastern Edge. The submarket is home to the Hard Rock Stadium which hosts the Miami Dolphins, Orange Bowl, Miami Open, and the Miami Grand Prix for Formula One. Additionally, the submarket is only around 15 miles away from the retail and entertainment amenities of Downtown Miami, the office hub of Brickell, and around 17 miles from Miami Beach. Despite weakening near-term fundamentals, Miami Gardens/Opa-Locka remains a relatively affordable area for renters. A boom in construction has concentrated in the Allapattah neighborhood to the South, as this lies just West of the popular Wynwood neighborhood and is developing its own arts and culture attractions.

The lots benefit from favorable UC-MM 6164 - UC CENTER - MAIN STREET (MM) 12 MAX HT, which prompted the current owner to design a 40-unit, five-story residential project. However, more units are feasible with today's implementation of SB 102 The Live Local Act.

Building Size: 21756sq ft
Lot Size: 0.5 acres

Map of Northwest 81st Street, Miami, FL, 33150

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.