1165 5th St Miami, FL 33128-1016
- Retail residential properties
- 3,031 SF
- 0.11 lot acres
Current Use by Public Records
- Retail residential properties
Property Details for 1165 5th St
- Year built
- 1950
- Construction
- CONCRETE
- Lot size
- 0.11 lot acres
- Property size
- 3,031 SF
- Zone code
- 6100:COMMERCIAL,NEIGHBRHD
- Property type
- Retail residential properties
- APN
- 01-4102-005-0420
- APU
- 141020050420
Description
This exceptional 0.52-acre development site, located in the heart of Little Havana, Miami, Florida, presents a unique investment opportunity. The property, encompassing four parcels with APNs 01-4102-005-0400, 01-4102-005-0420, 01-4102-005-0410, and 01-4102-005-0390, is strategically positioned at the corner of NW 12th Avenue and NW 5th Street and NW 12th Avenue, offering convenient access to major highways and proximity to significant landmarks including LoanDepot Park, Miami Health District, River District, Wynwood, Downtown Miami, Brickell, Edgewater, South Beach, and Miami International Airport. Currently featuring approximately 10,000 square feet of existing space across multiple buildings, generating an annual income of $84,035, the site is zoned T6-8-O, allowing for dense and flexible mixed-use development. This zoning permits up to 150 units per acre (77 units total), with a 5-story building plus a 30% bonus for a total developable area of approximately 175,000 square feet. The property's eligibility for Live Local incentives provides further advantages, including increased density and tax benefits. The asking price for this remarkable development opportunity is $5,250,000. This prime location and flexible zoning make this a compelling investment for developers seeking a high-impact project in a rapidly growing area. The addresses included are 1165 NW 5th St, 515 NW 12th Ave, 1159 NW 5th St, and 521 NW 12th Ave, all in Miami, FL 33128 and 33136.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $365,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $415,000
- 6.5%
- $455,000
- 7%
- $435,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $490,000
- Geo Method
- $455,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $375,000
- Retail
- $410,000
- Mixed-Use
- $410,000
- Hospitality
- $510,000
- Educational
- $380,000
- Residential Income
- $415,000
- Energy
- $470,000
- Income-Based Land
- $380,000
- Food Service
- $390,000
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.2145
- Latitude
- 25.7785
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
