342 7th St Miami, FL 33136
- Commercial land
- 0.11 lot acres
Nov 10, 2022
Current Use by Public Records
- Commercial land
Property Details for 342 7th St
- Lot size
- 0.11 lot acres
- Zone code
- 6106:RESID-LIBERAL RETAIL
- Property type
- Commercial land
- APN
- 01-0105-040-2010
- APU
- 101050402010
Description
This exceptional redevelopment opportunity presents 9,769 square feet of land zoned T6 in Miami's vibrant Highland Park neighborhood, just one block from Downtown. The site allows for the construction of a new eight-story building encompassing 92 apartment units and one retail bay, leveraging the Live Local SB102 & 328 amendments for 100% parking reduction. This Transit-Oriented Development (TOD) and Opportunity Zone (OZ) location benefits from significant population density, with over 522,000 residents, 380,000 daytime employees, and 50,000+ businesses within a five-mile radius. The project offers approximately 51,170 square feet of buildable space, with 36,582 square feet under air conditioning. Nearby amenities include major grocery stores (Publix, Aldi, Target), four Metromover stations, and the Brightline station. Comparable new developments in the area with similar parking reductions command monthly rents ranging from $4.62 to $4.81 per square foot. This by-right development presents a compelling investment opportunity in a rapidly growing and highly desirable location. The property's APN is 0101050402010 and is owned by a Limited Liability Company.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,125,000
- ML approach
- $1,100,000
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Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.2005
- Latitude
- 25.7804
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
