1920 Bay Dr Miami Beach, FL 33141

This exceptional Miami Beach property at 1920 Bay Dr, 33141 offers a unique investment opportunity. Situated on an 8,850 square foot lot with 52 feet of waterfront on the wide bay, this single-family home boasts breathtaking downtown views and unrestricted access to the ocean (no fixed bridges). The property includes grandfathered boat dock pilings, adding significant value. Zoned RM-1, it presents a prime opportunity for residential development. With a Floor Area Ratio (FAR) of 1.25, the site allows for the construction of over 11,000 square feet of living space, reaching a maximum height of 55 feet. The property is not designated as historic, offering developers considerable flexibility in design and construction. This is a rare chance to acquire a large bayfront lot in a highly desirable Miami Beach location, perfect for creating a luxury residential development. The asking price is $5,500,000. Don't miss this exceptional opportunity to build something extraordinary in a prime location.