100-126 NE 21st St - Edgewater Land Development Site
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100-126 NE 21st St - Edgewater Land Development Site
0.81 Acres of Commercial Land Offered at $10,630,000 in Miami, FL 33137
Investment Highlights
- Ideally situated for either market-rate or Live Local project
- Competitively priced in high barrier-to-entry neighborhood
- Expanded assemblage of 0.81 acres for 121 units by-right
- Qualified Opportunity Zone (QOZ)
- Southern-most location in Edgewater, blocks from both A+E District and Wynwood
Executive Summary
Introducing an expanded coveted land development opportunity for mid-rise or high-rise project in the popular Edgewater neighborhood of Miami.
Located at the Southern-most quadrant just outside the borders of both the Arts + Entertainment District (OMNI), and only a block from the access road to Wynwood that crosses the train-tracks (one of only a few crossings in the neighborhood).
With T6-8-O zoning, a developer can build up to 8 stories and 121 units BY-RIGHT. With the bonuses available in the Miami 21 code for various public benefit, a developer can exceed this count without applying for a Live Local project. That said -- this site has the potential to be a perfect Live Local project as it's located slightly off the main corridor and would lend itself nicely to a mixed-income project of higher density (over 800 units, 36 stories, and over 500,000 buildable square feet would be the new maximums).
This offering is also very competitively priced for the neighborhood at $332/Sq. Ft., despite the potential to develop a project of the same scale as would be allowed in the eastern portion of Edgewater which trades between $450-$600/Sq. Ft. Also located within a Qualified Opportunity Zone (QOZ) and abutting the Braman campus within walking distance to Young Arts, the Adrienne Arsht Center, and Publix.
NOTE: This offering was recently expanded to include an additional 7,100 Sq. Ft. parcel at 126 NE ST, for a total land area of 0.81 acres. The parcels at 100-118 NE 21 ST are still available separately should the buyer prefer the original 28,265 SF offering, at a price of $9,500,000 for 97 units by-right.
Located at the Southern-most quadrant just outside the borders of both the Arts + Entertainment District (OMNI), and only a block from the access road to Wynwood that crosses the train-tracks (one of only a few crossings in the neighborhood).
With T6-8-O zoning, a developer can build up to 8 stories and 121 units BY-RIGHT. With the bonuses available in the Miami 21 code for various public benefit, a developer can exceed this count without applying for a Live Local project. That said -- this site has the potential to be a perfect Live Local project as it's located slightly off the main corridor and would lend itself nicely to a mixed-income project of higher density (over 800 units, 36 stories, and over 500,000 buildable square feet would be the new maximums).
This offering is also very competitively priced for the neighborhood at $332/Sq. Ft., despite the potential to develop a project of the same scale as would be allowed in the eastern portion of Edgewater which trades between $450-$600/Sq. Ft. Also located within a Qualified Opportunity Zone (QOZ) and abutting the Braman campus within walking distance to Young Arts, the Adrienne Arsht Center, and Publix.
NOTE: This offering was recently expanded to include an additional 7,100 Sq. Ft. parcel at 126 NE ST, for a total land area of 0.81 acres. The parcels at 100-118 NE 21 ST are still available separately should the buyer prefer the original 28,265 SF offering, at a price of $9,500,000 for 97 units by-right.
Property Facts
| Price | $10,630,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.81 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Price | $10,630,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.81 AC |
| Opportunity Zone |
Yes |
1 Lot Available
Lot
| Price | $10,630,000 | Lot Size | 0.81 AC |
| Price Per AC | $13,123,457 |
| Price | $10,630,000 |
| Price Per AC | $13,123,457 |
| Lot Size | 0.81 AC |
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Walk Score ®
Walker's Paradise (91)
Transit Score ®
Excellent Transit (74)
Bike Score ®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,000 | |
| Land Assessment | $1,420,000 | Total Assessment | $6,396,966 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,420,000
Improvements Assessment
$1,000
Total Assessment
$6,396,966
zoning
| Zoning Code | T6-8-O (Max density: 121 units (by-right), Max height: 8 stories (by-right) -- up to 811 units, 36 stories, and over 630,000 BSF with Live Local.) |
| T6-8-O (Max density: 121 units (by-right), Max height: 8 stories (by-right) -- up to 811 units, 36 stories, and over 630,000 BSF with Live Local.) |
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100-126 NE 21st St - Edgewater Land Development Site
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