1060 98 St, Bay Harbor Islands, FL 33154

Listing office One Sotheby's International Realty

Listing date Dec 10, 2024

Source Theelainegroup

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Overview

The offering consists of approximately 33,750 square feet across three income-producing buildings, positioned for redevelopment under multifamily zoning. The zoning supports multifamily rental, condominium use, and apartments, with a stated height allowance of up to 65 feet. This configuration gives buyers flexibility to evaluate continued income-producing operations, redevelopment scenarios, or a conversion to condominiums, subject to applicable approvals.

The property is located across from a new recreational and dog park, providing an immediate adjacent recreational setting. As described, the site’s zoning framework is designed to accommodate multifamily density and vertical development within the 65-foot height limit.

This property is especially relevant for buyers evaluating a multifamily-oriented redevelopment plan, including 1031 exchange investors, medium-sized builders, and those looking to add to an investment portfolio. The combination of existing income-producing buildings and multifamily/condominium zoning can be a strong starting point for underwriting redevelopment timelines and design options, based on the allowances noted for the site.

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Bay Harbor Islands

County

Miami-Dade

State

Florida

Longitude

-80.130825

Latitude

25.888677

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FAQs

What type of property is this?

Apartment building - Three income-producing buildings on multifamily-zoned land with condominium and 65-foot height allowances.

Where is this apartment building located?

The property is located at 1060 98 St Bay Harbor Islands, FL.

What is the asking price?

The asking price for this property is $25,000,000.

What are key features of this property?

This property features: Approx. 33,750 SF multifamily‑zoned site with zoning allowing multifamily, condos, and apartments; Three income‑producing buildings on the property; Zoning allows condominium or multifamily development with up to 65‑ft height allowance