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2899 NW 7th Ave
0.35 Acres of Commercial Land Offered at $6,377,197 CAD in Miami, FL 33127
Investment Highlights
- Max Density as of Right: 53 units (150 per acre)
- Lot Size: 15,404 SF
- Benefits: Live Local, Opportunity zone
- Height as of right: 8 stories (12 with bonus)
- FLR as of Right: 5 (7 with 25% bonus)
- Allowed Uses: Residential and commercial
Executive Summary
redevelopment potential.
Data Room Click Here to Access
Property Facts
| Price | $6,377,197 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.35 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Price | $6,377,197 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.35 AC |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $6,377,197 CAD | Lot Size | 0.35 AC |
| Price Per AC | $18,220,564 CAD |
| Price | $6,377,197 CAD |
| Price Per AC | $18,220,564 CAD |
| Lot Size | 0.35 AC |
2899 NW 7 AVE presents a premier development opportunity, offering the potential for significantly higher density and substantial financial advantages through the Live Local program, coupled with the benefits of its location in an Opportunity Zone.
Description
2899 NW 7 AVE presents a premier development opportunity, offering the potential for significantly higher density and substantial financial advantages through the Live Local program, coupled with the benefits of its location in an Opportunity Zone, providing significant tax incentives. Colliers is pleased to offer 2899 NW 7 AVE, a prime 0.35-acre development site strategically located in East Allapattah, just steps from Wynwood and offering exceptional connectivity to three major highways as well as the Urban Core. Situated at the corner of 29th Street and 7th Avenue, this single-parcel property boasts T6-8-O zoning, allowing for the development of 53 buildable units (150 units per acre) and a range of commercial uses by right. The site’s eligibility under the Live Local program offers the potential to increase density to an impressive 1,000 units per acre, along with significant tax savings and favorable financing options. Additionally, its location within an Opportunity Zone provides further substantial tax benefits. Currently, the property is leased for approximately $150,000 per year with a flexible six-month termination clause, offering an immediate income stream while maintaining the flexibility to unlock the site’s full redevelopment potential.
PROPERTY TAXES
| Parcel Number | 01-3125-024-2450 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,560,655 CAD |
PROPERTY TAXES
zoning
| Zoning Code | T6-8-O (Allowing for the development of 53 buildable units (150 units per acre) and a range of commercial uses by right) |
| T6-8-O (Allowing for the development of 53 buildable units (150 units per acre) and a range of commercial uses by right) |
Presented by
2899 NW 7th Ave
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