776 5Th St Miami, FL 33130

Property Details for 776 5Th St

Property type

Commercial real estate

Description

This exceptional 10,000 square foot assemblage in Miami's vibrant East Little Havana presents a compelling mixed-use development opportunity. The property comprises a vacant lot and an adjacent income-producing duplex, strategically located at 776 SW 5th St, Miami, FL 33130, in Miami-Dade County. Zoned T4-L, this site is perfectly positioned to capitalize on the area's robust economic growth, characterized by sub 2% vacancy rates and escalating rental demands. The current zoning allows for the construction of eight units as of right; however, the city's mixed-income development programs could potentially double that density to sixteen units. A Live-Local/SB102 entitlement process is recommended to optimize development potential. The property's 100 x 100 square foot dimensions offer a highly efficient layout for construction, minimizing costs. Dual street frontages further enhance design flexibility, facilitating the seamless integration of interior parking and circulation. This prime location offers investors a unique chance to create a thriving mixed-use project in a rapidly appreciating market. The existing duplex provides immediate cash flow, while the vacant lot offers significant expansion potential. This is a rare opportunity to acquire a well-situated property in a high-demand area with substantial upside. The asking price for this exceptional property is $1,000,000.