Corner Lot Multifamily Development
For Sale
Contact for pricing
Pending
5540 NE 1st Place, Miami, FL 33137
Corner lot multifamily development site zoned T4-R with right to build up to three apartments.
Property SizeContact for details
Days on Market143
Property Features for 5540 NE 1st Place
General Information
Standard status
Pending
Property subtype
Multifamily
Listing Agency:
Fausto Commercial Realty Consultants
(305) 510-6627
Listed By:
Vicente Rodriguez · License #3289280
Source:
Crexi
Added: Apr 11
Changed: Aug 27
Last Checked: Aug 30 at 7:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fausto Commercial Realty Consultants
Investment Insights
Based on property information with market context.
Fausto Commercial presents the Buena Vista multifamily development site at 5540 NE 1st Place, Miami, Florida. The parcel is a corner lot totaling 4,550 square feet and is zoned T4-R. Under the current zoning, the property allows an owner/developer to build a two-story, 3-apartment rental building, with the potential to build up to three units.
The site is described as a short four-block walk from an Upper Buena Vista shopping and restaurant area. Public transportation access is noted, which could potentially reduce the amount of parking required for the property.
The property is also located in an opportunity zone, and the acquisition is described as qualifying for Opportunity Zone tax incentives by deferring or reducing investment capital gain taxes over 5-, 7-, or 10-year holding periods. The remarks further note that, if Low Income Housing Tax Credits are applied for and awarded, certain annual tax reductions may be available for acquisition costs and development costs over the first 10 years after the building is fully operational.
The site is described as a short four-block walk from an Upper Buena Vista shopping and restaurant area. Public transportation access is noted, which could potentially reduce the amount of parking required for the property.
The property is also located in an opportunity zone, and the acquisition is described as qualifying for Opportunity Zone tax incentives by deferring or reducing investment capital gain taxes over 5-, 7-, or 10-year holding periods. The remarks further note that, if Low Income Housing Tax Credits are applied for and awarded, certain annual tax reductions may be available for acquisition costs and development costs over the first 10 years after the building is fully operational.
Key Highlights
- 4,550 SF corner lot at 5540 NE 1st Place, Miami, FL 33137
- Zoned T4‑R with by‑right development opportunity to build up to 3 units
- Allows a 2‑story, 3‑apartment rental building under current zoning
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,092
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Corner lot multifamily development site zoned T4-R with right to build up to three apartments.
Where is this triplex located?
The property is located at 5540 NE 1st Place Miami, FL.
What are key features of this property?
This property features: 4,550 SF corner lot at 5540 NE 1st Place, Miami, FL 33137; Zoned T4‑R with by‑right development opportunity to build up to 3 units; Allows a 2‑story, 3‑apartment rental building under current zoning
