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163 St North Miami Beach, FL 33162

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For Sale
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380-unit complex, prime location, high occupancy.

Property size:
440,000 SF

Description

Added:
Dec 11, 2024
Days on Market:
392
This exceptional redevelopment opportunity encompasses a 380-unit multifamily property situated on a 34,830 square foot lot in North Miami Beach, Florida. The property boasts a 97% occupancy rate and is comprised of a two-story building with a total of 440,000 square feet. The property is zoned MU/EC and is located within both the North Miami Beach Community Redevelopment Area (CRA) and a federally designated Opportunity Zone, presenting significant tax advantages for investors. The CRA designation allows developers to apply for the Direct Financial Incentive Program, potentially refunding 40% to 60% of the net new tax increment revenue generated by the project. The property's strategic location offers easy access to major thoroughfares, with 67,000 vehicles passing daily on Northeast 163rd Street. Its proximity to Biscayne Boulevard, Aventura, Sunny Isles, and Bal Harbor, coupled with its walking distance to the planned Tri-Rail Coastal Link Station and minutes from Florida International University's Biscayne Campus, ensures high demand and strong rental potential. Furthermore, the potential for assemblage with an adjacent lot could expand the property to a total of 2.14 acres, unlocking even greater development possibilities. This income-producing asset presents a compelling investment opportunity for those seeking significant returns in a rapidly developing area.

Property Features for 0 163 St

General Information

Property type
Multifamily properties
Square Feet
440,000 SF

Building Details

Buildings
1
Stories
2
Units
380

HighLights

  • 380‑unit multifamily property redevelopment opportunity in North Miami Beach, FL.
  • 97% occupancy rate, 440,000 square feet on a 34,830 square foot lot.
  • Located in Opportunity Zone & North Miami Beach CRA, offering significant tax advantages including potential for 40‑60% refund of net new tax increment revenue.
  • High‑traffic location (67,000 vehicles daily on NE 163rd Street), near major thoroughfares, Aventura, Sunny Isles, Bal Harbor, and future Tri‑Rail station.
  • Potential for assemblage with adjacent lot, expanding to 2.14 acres.
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 Clothing Store Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
North Miami Beach
County
Miami-Dade
State
Florida
Longitude
-80.158227656525
Latitude
25.926159008917

FAQs

What type of property is this?
Multifamily property - 380-unit complex, prime location, high occupancy.
Where is this multifamily property located?
The property is located at 163 St North Miami Beach, FL.
What are key features of this property?
This property features: 380-unit multifamily property redevelopment opportunity in North Miami Beach, FL.; 97% occupancy rate, 440,000 square feet on a 34,830 square foot lot.; Located in Opportunity Zone & North Miami Beach CRA, offering significant tax advantages including potential for 40-60% refund of net new tax increment revenue.
More about this property
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