244 1St St Miami, FL 33132
- Land
- 0.50 lot acres
Current Use by Public Records
- Land
Property Details for 244 1St St
- Lot size
- 0.50 lot acres
- Property type
- Land
Description
This exceptional 0.5-acre commercial land parcel presents a remarkable redevelopment opportunity in the heart of Downtown Miami. Situated at the corner of NE 2nd Avenue and NE 1st Street, this property boasts a highly desirable T6-80-O zoning designation under Miami 21, allowing for unparalleled development potential. The Downtown Density Overlay further enhances the site's value, permitting up to 1,000 residential units per acre, structures reaching 80 stories, and a gross building area exceeding 500,000 square feet. With a floor lot ratio of 24 (and 36 with bonus), this site is ideally suited for a mixed-use high-rise development. The property's location at the intersection of NE 2nd Street and NE 1st Avenue provides excellent visibility and accessibility. The tax parcel number is Folio: 01-0111-080-1040. Potential gross buildable area is estimated at approximately 500,000 square feet, with the potential to reach approximately 750,000 square feet with bonus allowances. This is a truly unique chance to capitalize on Miami's thriving real estate market and create a landmark development.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.1894
- Latitude
- 25.7752
