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    242 12Th Ave Miami, FL 33128

    Sponsored
    For Sale
    $1,500,000

    Prime Little Havana location, redevelopment opportunity.

    Property size:
    2,393 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    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

    Property Features for 242 12Th Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,393 SF

    Building Details

    Year Built
    1925
    Buildings
    1
    Stories
    2
    Units
    4

    HighLights

    • Located within the Urban Development Boundary.
    • Zoned T‑6‑8‑O Urban Core, allowing for high‑density development; 10‑story buildings are nearby.
    • Owner financing may be available.
    • Eligible for Live Local incentives, providing density bonuses and tax advantages.
    • Excellent access to major highways, Marlins Stadium, Miami Health District, River District, Wynwood, and Downtown Miami.
    Property Profile Location Intelligence

    Current Use by Public Records

    Carbone Anthony Attorney Cutrone Jerrard Attorney

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market 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
    -80.214688720825
    Latitude
    25.776395821016

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    FAQs

    What type of property is this?
    Multifamily property - Prime Little Havana location, redevelopment opportunity.
    Where is this multifamily property located?
    The property is located at 242 12Th Ave Miami, FL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Located within the Urban Development Boundary.; Zoned T-6-8-O Urban Core, allowing for high-density development; 10-story buildings are nearby.; Owner financing may be available.
    Request Owner's contact information
    242 12Th Ave Miami, FL 33128
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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
    242 12Th Ave Miami, FL 33128
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