2225 123Rd St North Miami, FL 33181

This exceptional redevelopment opportunity presents a 31-unit apartment building situated on a 40,000 square foot corner waterfront lot in North Miami, Florida. The property, known as Keystone Manor, boasts a prime location at the entrance to the causeway leading to Bay Harbor Islands and Bal Harbour, offering breathtaking Biscayne Bay views. The existing two-story, Class B building, constructed in 1959, comprises 25,515 square feet of net rentable space and is currently 100% occupied. The property is zoned R-4, allowing for significant redevelopment potential. The 31 units consist of spacious one- and two-bedroom floor plans, along with convenient efficiencies. This rapidly developing area of North Miami offers significant upside potential, fueled by nearby large-scale projects including a Related Group luxury condo development, a revitalized nine-acre downtown complex, an expansion of the Museum of Contemporary Art, and the development of The Gardens and Sole Mia communities, adding thousands of new housing units. The high walkability score and proximity to US-1, along with a wide array of retail amenities, further enhance the property's desirability. This is a rare chance to acquire a substantial waterfront asset in a booming South Florida market poised for continued growth. Price upon request.