7110 Bonita DrMiami, FL 33141

Property Details for 7110 Bonita Dr

Year built

1958

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional Miami Beach property, located at 7110 Bonita Dr, presents a unique land development opportunity. Currently operating as a 10-unit apartment building, the property's value lies in its significant redevelopment potential. The existing structure, built in 1958 and spanning two stories, is not the focus of this sale. Instead, the offering centers on the property's TC1 zoning designation, allowing for a substantial buildable area of 69,000 square feet across 125 feet of frontage. This zoning permits a wide range of development options, including hotels, micro-unit apartments, or mixed-use projects with ground-floor retail. The asking price is $9,999,000. Given the focus on redevelopment, traditional multifamily investment metrics such as rent roll, NOI, CAP rate, and operating expenses are not being provided, as they are irrelevant to the property's true potential. This is an ideal acquisition for developers and builders seeking a prime waterfront location in Miami Beach to create a high-value project. Serious inquiries only from parties interested in land development are encouraged. The property is situated in Miami-Dade County, Florida, with a zip code of 33141.

Location Insight

City

Miami

County

Miami-Dade

State

Florida

Latitude

25.8562

Longitude

-80.1266

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