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    631 60Th St Miami, FL 33137

    For Sale
    $1,975,000

    10,250 SF Miami Lot, 21-Unit Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional 10,250 square foot lot presents a prime redevelopment opportunity in Miami's desirable Morningside neighborhood. Located at 631 NE 60th Street, Miami, FL 33137, this property boasts T6-08 and T5-R zoning, allowing for the construction of a multifamily development with up to 21 units. The existing structures, a duplex comprising a 2/1 main house and a separate 2/1 unit, provide immediate income potential while plans for a new development are underway. The property's 10,250 square foot size and favorable zoning regulations offer significant vertical potential, allowing for a three-story building. Situated in the heart of Morningside, this location offers unparalleled access to a vibrant array of dining, shopping, and entertainment options. Residents will enjoy proximity to local boutiques, cafes, restaurants, parks, and cultural attractions, along with convenient access to beaches. This development opportunity is ideally positioned to capitalize on Miami's thriving real estate market and Morningside's reputation as a highly sought-after residential area. The property's APN is 01-3218-000-0290. This is a rare chance to create a luxury multifamily development in one of Miami's most coveted neighborhoods. The asking price is $1,975,000.

    Property Features for 631 60Th St

    General Information

    Property type
    Land

    HighLights

    • 10,250 SF lot in Miami's Morningside neighborhood, ideal for redevelopment.
    • Zoned T6‑08 and T5‑R, allowing for up to 21 multifamily units.
    • Existing duplex (two 2/1 units) provides immediate income.
    • Allows for a three‑story building.
    • Prime Morningside location near dining, shopping, and entertainment.
    • Asking price: $1,975,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1834743
    Latitude
    25.8321412

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    FAQs

    What type of property is this?
    Land - 10,250 SF Miami Lot, 21-Unit Potential
    Where is this land located?
    The property is located at 631 60Th St Miami, FL.
    What is the asking price?
    The asking price for this property is $1,975,000.
    What are key features of this property?
    This property features: 10,250 SF lot in Miami's Morningside neighborhood, ideal for redevelopment.; Zoned T6-08 and T5-R, allowing for up to 21 multifamily units.; Existing duplex (two 2/1 units) provides immediate income.
    Request Owner's contact information
    631 60Th St Miami, FL 33137
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    Miami, FL 33137
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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
    631 60Th St Miami, FL 33137
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