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    1515-1543 River Dr Miami, FL 33125

    For Sale
    $23,750,000

    Luxury Waterfront Development Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional Miami, Florida development opportunity encompasses three contiguous lots totaling 77,101 square feet (1.77 acres) along the Miami River. The property, located at 1515-1543 NW S River Dr, Miami, FL 33125 (APN: 01-3035-016-0070, 01-3135-016-0060, 01-3135-016-0040), boasts site plan approval for the construction of 40 luxury townhomes. The T4-R zoning allows for this high-density residential development. Included are 14 existing 50-foot boat slips, enhancing the waterfront lifestyle appeal. The site's prime location offers convenient access to Miami River Landing, JMH-UM Medical & Employment hub, Miami International Airport, and the future Miami Freedom Park Stadium (2026 FIFA World Cup host). This presents a unique opportunity to capitalize on Miami's thriving real estate market and create a premier luxury townhome community. The asking price is $23,750,000. Projected total project costs, including land acquisition and construction, are estimated at $54,179,447, with an estimated sellout of $77,600,000, resulting in an estimated profit of $23,420,553. This development promises an unparalleled return on investment in a rapidly growing area.

    Property Features for 1515-1543 River Dr

    General Information

    Property type
    Land

    HighLights

    • 1.77‑acre lot assembled from three parcels, listed at $25,000,000.
    • Approved site plan for 40 luxury townhomes.
    • T4‑R zoning.
    • Projected total development cost: $54,179,447.
    • Estimated project sellout: $77,600,000, yielding an estimated profit of $23,420,553.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -80.2208248
    Latitude
    25.7838481

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    FAQs

    What type of property is this?
    Land - Luxury Waterfront Development Opportunity
    Where is this land located?
    The property is located at 1515-1543 River Dr Miami, FL.
    What is the asking price?
    The asking price for this property is $23,750,000.
    What are key features of this property?
    This property features: 1.77-acre lot assembled from three parcels, listed at $25,000,000.; Approved site plan for 40 luxury townhomes.; T4-R zoning.
    (305) 209-8866
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    1515-1543 River Dr Miami, FL 33125
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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
    1515-1543 River Dr Miami, FL 33125
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