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2225 123 St North Miami, FL 33181

For Sale
Contact for pricing

Prime waterfront redevelopment opportunity. 31-unit apartment building.

Property size:
25,515 SF

Description

Added:
Dec 11, 2024
Days on Market:
364
This exceptional redevelopment opportunity presents a 31-unit apartment building situated on a 40,000 square foot corner waterfront lot in North Miami, Florida. The property, known as Keystone Manor, boasts a prime location at the entrance to the causeway leading to Bay Harbor Islands and Bal Harbour, offering breathtaking Biscayne Bay views. The existing two-story, Class B building, constructed in 1959, comprises 25,515 square feet of net rentable space and is currently 100% occupied. The property is zoned R-4, allowing for significant redevelopment potential. The 31 units consist of spacious one- and two-bedroom floor plans, along with convenient efficiencies. This rapidly developing area of North Miami offers significant upside potential, fueled by nearby large-scale projects including a Related Group luxury condo development, a revitalized nine-acre downtown complex, an expansion of the Museum of Contemporary Art, and the development of The Gardens and Sole Mia communities, adding thousands of new housing units. The high walkability score and proximity to US-1, along with a wide array of retail amenities, further enhance the property's desirability. This is a rare chance to acquire a substantial waterfront asset in a booming South Florida market poised for continued growth. Price upon request.

Property Features for 2225 123 St

General Information

Property type
Multifamily properties
Square Feet
25,515 SF
Class
B

Building Details

Year Built
1959
Stories
2
Units
31

HighLights

  • Keystone Manor, a 31‑unit apartment building in North Miami, FL, offers a redevelopment opportunity.
  • The property features 25,515 square feet on a 40,000 square foot waterfront lot, with 100% occupancy.
  • The Class B building, constructed in 1959, sits on a prime corner lot at the entrance to the Bay Harbor Islands and Bal Harbor causeway.
  • Zoned R‑4, the property is adjacent to a recent Related Group luxury condo development and benefits from significant surrounding growth and redevelopment.
  • The property's 31 units consist of spacious one- and two‑bedroom apartments and efficiencies.
Property Profile Location Intelligence

Current Use by Public Records

Big Lou's Quality ... Contractor euroluz Interior Decorator

Suggested Use

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

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

Location Insight

  • Map
  • Local Demand
City
North Miami
County
Miami-Dade
State
Florida
Longitude
-80.152718737374
Latitude
25.889618912486

FAQs

What type of property is this?
Multifamily property - Prime waterfront redevelopment opportunity. 31-unit apartment building.
Where is this multifamily property located?
The property is located at 2225 123 St North Miami, FL.
What are key features of this property?
This property features: Keystone Manor, a 31-unit apartment building in North Miami, FL, offers a redevelopment opportunity.; The property features 25,515 square feet on a 40,000 square foot waterfront lot, with 100% occupancy.; The Class B building, constructed in 1959, sits on a prime corner lot at the entrance to the Bay Harbor Islands and Bal Harbor causeway.
More about this property
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