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2799 SW 27th Ter - Grove Center Condo
0.23 Acres of Commercial Land Offered at £2,535,457 in Miami, FL 33133
Investment Highlights
- Along UNDERLINE
- Opportunity of redevelopment for a mixed-use project with 75 units via Live Local on (8) floors.
- SITE DETAIL Land Size: 10,016 SF
- current top line income $62400
Executive Summary
Live Local on (8) floors reducing parking by 80-85%. This development could deliver the Highest & Best Use as a boutique condo
building or a more traditional rental building.
Financial Summary (Actual - 2023) |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
£49,441
|
£215,056.15
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£49,441
|
£215,056.15
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £49,441 |
| Annual Per AC | £215,056.15 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | £49,441 |
| Annual Per AC | £215,056.15 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
Property Facts
| Price | £2,535,457 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Conditions | Development Sale | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.23 AC |
| Price | £2,535,457 |
| Sale Type | Investment |
| Sale Conditions | Development Sale |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.23 AC |
1 Lot Available
Lot 17
| Price | £2,535,457 | Lot Size | 0.23 AC |
| Price Per AC | £11,026,794 |
| Price | £2,535,457 |
| Price Per AC | £11,026,794 |
| Lot Size | 0.23 AC |
The lots benefit from favorable T5-O zoning. The property sits in the TOD (Transit Orient Development Boundary) allowing for even greater density and intensity and a complete elimination of parking requirements.
Description
RE/MAX 360 proudly presents a prime redevelopment Directly along The Underline "GROVE CENTER CONDO". The offering is comprised of (1) single-family home & 1 duplex totaling +/- 10,000 feet of land. The lot(s) assemblage allows 75 units via Live Local on (8) floors reducing parking by 80-85%. This development could deliver the Highest & Best Use as a boutique condo building or a more traditional rental building. The lots benefit from favorable T5-O zoning. The property sits in the TOD (Transit Orient Development Boundary) allowing for even greater density and intensity and a complete elimination of parking requirements. The property abuts the underline directly to the South. In our analysis, the highest and best use is as redevelopment for a mixed-use project with 75 units via Live Local on (8) floors.
zoning
| Zoning Code | T5-0 (Along UNDERLINE , Between Coconut Grove & Brickell , Within the TOD ( Transit Orient Development Boundary) & T5-O zoning) |
| T5-0 (Along UNDERLINE , Between Coconut Grove & Brickell , Within the TOD ( Transit Orient Development Boundary) & T5-O zoning) |
Presented by
2799 SW 27th Ter - Grove Center Condo
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