765 23Rd St Hialeah, FL 33010

Property Details for 765 23Rd St

Property size

3,291 SF

Property type

Commercial real estate

Description

This exceptional 21,780 sq ft lot in Hialeah, Florida, presents a unique investment opportunity. Located at 765 W 23rd St, 33010, this property boasts a prime location just half a mile from the Okeechobee Metro Rail station and an eight-story development, making it ideal for leveraging the Live Local Act program. The site is strategically positioned adjacent to a public school to the east and an industrial site to the north. Currently improved with two fully rented residential structures (a 3/1, a 3/2, and a 1/1 unit), generating a consistent monthly income of $6,500. The existing buildings total 3,291 square feet. The property is zoned R-1, but offers significant potential for rezoning to a higher density, potentially accommodating up to 35 units under Neighborhood Business District (NBD) regulations, allowing for a multifamily density of 70 units per acre. This presents a compelling opportunity to capitalize on the high demand for residential units in this rapidly developing area while benefiting from existing rental income during the development phase. The asking price for this exceptional property is $1,500,000. This is a rare chance to acquire a strategically located parcel with significant upside potential.

Location Insight

City

Hialeah

County

Miami-Dade

State

Florida

Longitude

-80.2976446

Latitude

25.8427101