242 12th Ave Miami, FL 33128-1011

This exceptional mixed-use property in Miami's vibrant Little Havana neighborhood presents a compelling redevelopment opportunity. Situated on a 5,000 square foot lot at 242 NW 12th Ave, 33128, this 2,393 square foot building currently operates as a four-unit apartment building with 100% occupancy, offering immediate rental income. The property boasts a T6-8-O Urban Core Zone designation, allowing for the construction of an eight-story or taller building, significantly increasing density. The existing structure, built in 1925, is a two-story building currently configured as office space and apartments, with potential for conversion to larger units. The property includes eight parking spaces. The asking price is $1,500,000, translating to $626.83 per square foot. This represents a significant investment opportunity, particularly given the property's location within the Urban Development Boundary, proximity to major highways (836 expressway), and its close proximity to Marlins Stadium, Jackson and UM medical centers, Downtown Miami, and Brickell. The property is eligible for Live Local Incentives, offering potential tax benefits and increased density. Owner financing with 50% down is a possibility. The property is currently fully occupied