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    1873 Flagler Ter Miami, FL 33125

    For Sale
    $450,000

    Prime 4,450 SF Miami Lot, $450K

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 4,450 square foot development site presents a unique investment opportunity in Miami's vibrant West Little Havana neighborhood. Located at 1873 NW Flagler Ter, Miami, FL 33125, this vacant lot is situated in a rapidly developing area experiencing significant economic growth and high demand. The property's T4-R zoning allows for the construction of three residential units as of right. However, the city offers programs for mixed-income developments, potentially doubling the density to seven units. This flexibility allows developers to create a variety of unit mixes, ranging from one-bedroom to three-bedroom models. Innovative developers might even consider a co-living approach, a proven profitable model in today's market. The current market conditions are characterized by sub 2% vacancy rates, driving rental rates upward and fueling the strong demand for mixed-use infill developments. This site offers a compelling opportunity to capitalize on this dynamic submarket and create a highly profitable project. The asking price for this exceptional property is $450,000. The property's coordinates are 25.7740576 latitude and -80.2263355 longitude.

    Property Features for 1873 Flagler Ter

    General Information

    Property type
    Specialty properties

    HighLights

    • $450,000 asking price.
    • 4,450 sq. ft. vacant lot in West Little Havana.
    • T4‑R zoning allows for 3 units by right, with potential for up to 7 units through city programs.
    • High demand mixed‑use infill development site in a rapidly developing area with low vacancy rates and increasing rental income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2263355
    Latitude
    25.7740576

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    FAQs

    What type of property is this?
    Specialty property - Prime 4,450 SF Miami Lot, $450K
    Where is this specialty property located?
    The property is located at 1873 Flagler Ter Miami, FL.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: $450,000 asking price.; 4,450 sq. ft. vacant lot in West Little Havana.; T4-R zoning allows for 3 units by right, with potential for up to 7 units through city programs.
    Request Owner's contact information
    1873 Flagler Ter Miami, FL 33125
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    Miami, FL 33125
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1873 Flagler Ter Miami, FL 33125
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