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    2321 62Nd St Miami, FL 33147

    For Sale
    $4,500,000

    1.16-Acre Redevelopment Site, 90 Units/Acre Potential

    Property size:
    50,446 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 1.16-acre development opportunity in Miami, Florida, presents a compelling investment prospect. Located at 2321 NW 62nd St, 33147, within Miami-Dade County's Mixed-Use Corridor (MC) zoning (6062 UC CENTER - MIXED USE CORRIDOR (MC)), this property offers significant potential. The existing 50,446 square foot, 10-story building, constructed in 1994, presents a redevelopment opportunity within a Qualified Opportunity Zone and Qualified Census Tract, unlocking various tax and development incentives. The site's zoning permits the construction of up to 90 units per acre, with a minimum of two and a maximum of ten floors. The asking price is $4,500,000, translating to $89.20 per square foot. The property's APN is 30-3115-026-0010. This prime location offers developers a chance to capitalize on Miami's thriving real estate market and benefit from substantial development incentives. The rectangular parcel's size and zoning make it ideal for a high-density mixed-use project. This is a rare chance to acquire a significant development site in a high-growth area. Don't miss this opportunity to create a landmark project in a vibrant and expanding urban center.

    Property Features for 2321 62Nd St

    General Information

    Property type
    Multifamily properties
    Square Feet
    50,446 SF
    Lot Size
    50,530 SF

    Building Details

    Year Built
    1994
    Stories
    10

    HighLights

    • $4,500,000 asking price for a redevelopment opportunity.
    • 1.16‑acre lot in Miami, FL, zoned Mixed‑Use Corridor (MC).
    • Potential for up to 90 units per acre.
    • Located in a Qualified Opportunity Zone and Qualified Census Tract.
    • 50,446 square feet, 10‑story building built in 1994.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hadley Davis Funeral ... Funeral Home

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office 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
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2355064
    Latitude
    25.8317121

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    FAQs

    What type of property is this?
    Multifamily property - 1.16-Acre Redevelopment Site, 90 Units/Acre Potential
    Where is this multifamily property located?
    The property is located at 2321 62Nd St Miami, FL.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: $4,500,000 asking price for a redevelopment opportunity.; 1.16-acre lot in Miami, FL, zoned Mixed-Use Corridor (MC).; Potential for up to 90 units per acre.
    Request Owner's contact information
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    Miami, FL 33147
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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
    2321 62Nd St Miami, FL 33147
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