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    1070 98Th St Bay Harbor Islands, FL 33154

    For Sale
    $25,000,000

    Prime Redevelopment Opportunity: 3 Buildings, $25M

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional multifamily investment opportunity in Bay Harbor Islands, Florida, presents a rare chance to acquire a portfolio of three buildings totaling approximately 33,750 square feet. Located at 1070 98 St, in Miami-Dade County, zip code 33154, this property offers significant redevelopment potential. Built in 1956, the two-story buildings currently generate income, providing a strong foundation for future growth. The property is zoned for multifamily, rental, condominium, or apartment development, allowing for a wide range of possibilities. With a permitted building height of 65 feet, the potential for substantial expansion and increased density is significant. The location is highly desirable, situated directly across from a newly constructed recreational and dog park, enhancing the property's appeal and value. This one-of-a-kind offering is ideal for a 1031 exchange investor, a medium-sized builder seeking a prime development site, or an investor looking to expand their portfolio. The asking price is $25,000,000. Don't miss this exceptional opportunity; this property will not remain on the market for long.

    Property Features for 1070 98Th St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1956
    Buildings
    3
    Stories
    2

    HighLights

    • $25,000,000 asking price.
    • Multifamily property in Bay Harbor Islands, FL.
    • Three buildings, two stories each, built in 1956.
    • Approximately 33,750 square feet, offering a premier redevelopment opportunity.
    • Zoned for multifamily, rental, condominium, or apartments; allows 65ft height.
    • Located across from a new recreational and dog park.
    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 Nail Salon Food Market Grocery Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Bay Harbor Islands
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1309455
    Latitude
    25.8884164

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    FAQs

    What type of property is this?
    Multifamily property - Prime Redevelopment Opportunity: 3 Buildings, $25M
    Where is this multifamily property located?
    The property is located at 1070 98Th St Bay Harbor Islands, FL.
    What is the asking price?
    The asking price for this property is $25,000,000.
    What are key features of this property?
    This property features: $25,000,000 asking price.; Multifamily property in Bay Harbor Islands, FL.; Three buildings, two stories each, built in 1956.
    Request Owner's contact information
    1070 98Th St Bay Harbor Islands, FL 33154
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    Bay Harbor Islands, FL 33154
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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
    1070 98Th St Bay Harbor Islands, FL 33154
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