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    1941 Flagler Ter Miami, FL 33135

    For Sale
    $550,000

    Prime West Little Havana lot, 5,000 sq ft, high demand.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 5,000 square foot development site presents a unique investment opportunity in Miami's vibrant West Little Havana neighborhood. Located at 1941 NW Flagler Ter, Miami, FL 33135, this vacant lot is situated in a rapidly developing area experiencing significant economic growth and surging demand for new construction. The property boasts T4-R zoning, allowing for the construction of four units as of right. However, the city's mixed-income development programs offer the potential to double the density, permitting up to eight units. This flexibility allows for creative development options, ranging from one-bedroom to three-bedroom units, or even innovative co-living spaces, a model that has proven highly profitable. The current market conditions are characterized by sub 2% vacancy rates and steadily increasing rental prices, making this an ideal location for mixed-use infill development. The asking price for this exceptional property is $550,000. This presents a compelling opportunity for developers seeking to capitalize on the strong market dynamics and high demand in this dynamic submarket. Don't miss this chance to acquire a prime development site in one of Miami's most promising neighborhoods.

    Property Features for 1941 Flagler Ter

    General Information

    Property type
    Specialty properties

    HighLights

    • 5,000 square foot development site in Miami's West Little Havana.
    • Located at 1941 NW Flagler Ter, Miami, FL 33135.
    • T4‑R zoning allows for four units as of right, with potential for up to eight units via mixed‑income programs.
    • Sub 2% vacancy rates and increasing rental prices.
    • Asking price: $550,000.
    Property Profile 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
    -80.2349196
    Latitude
    25.7686714

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    FAQs

    What type of property is this?
    Specialty property - Prime West Little Havana lot, 5,000 sq ft, high demand.
    Where is this specialty property located?
    The property is located at 1941 Flagler Ter Miami, FL.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: 5,000 square foot development site in Miami's West Little Havana.; Located at 1941 NW Flagler Ter, Miami, FL 33135.; T4-R zoning allows for four units as of right, with potential for up to eight units via mixed-income programs.
    Request Owner's contact information
    1941 Flagler Ter Miami, FL 33135
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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
    1941 Flagler Ter Miami, FL 33135
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