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    246 1St St Florida City, FL 33034

    Sponsored
    For Sale
    $550,000

    Shovel-ready 8-unit multifamily project.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    Exceptional investment opportunity in Florida City, FL, presents a shovel-ready 8-unit multifamily development. This three-story building, totaling 8,975 square feet, sits on a 14,000 square foot corner lot at 246 SW 1st St, 33034, in Miami-Dade County. The modern design features a wood-paneled facade and spacious balconies for each unit. The ground floor offers 15 covered parking spaces (70% of the ground floor) and a welcoming lobby area. The upper two floors house the residential units: five 2-bedroom, 1-bathroom units (1,000 sq ft each); two 3-bedroom, 2-bathroom units (1,500 sq ft each); and one additional 2-bedroom, 1-bathroom unit (975 sq ft). High rental demand in this growing Florida City market makes this a standout investment opportunity. The asking price is $550,000. This project is ready for immediate development.

    Property Features for 246 1St St

    General Information

    Property type
    Specialty properties

    HighLights

    • $550,000 asking price.
    • Shovel‑ready 8‑unit multifamily development.
    • 8,975 SF building on a 14,000 SF corner lot in Florida City, FL.
    • Modern design with wood‑paneled facade and spacious balconies.
    • 15 covered parking spaces and a lobby.
    • Unit mix: 5 two‑bedroom/one‑bathroom units (1,000 SF each), 2 three‑bedroom/two‑bathroom units (1,500 SF each), and 1 two‑bedroom/one‑bathroom unit (975 SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Florida City
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.4804263
    Latitude
    25.4469502

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    FAQs

    What type of property is this?
    Specialty property - Shovel-ready 8-unit multifamily project.
    Where is this specialty property located?
    The property is located at 246 1St St Florida City, 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: $550,000 asking price.; Shovel-ready 8-unit multifamily development.; 8,975 SF building on a 14,000 SF corner lot in Florida City, FL.
    Request Owner's contact information
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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
    246 1St St Florida City, FL 33034
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