100 Palm Drive - Palm Drive Development Site

MSP Group is proud to be the exclusive listing agent for the vacant lot located on the west side of NW 1st Avenue and north side W Palm Drive, Florida City, FL 33034, just west of Krome Avenue and US1. The property has no address, but an assumed 100 W Palm Drive is being used throughout this offering. The folio number of the property is 16-7824-017-0100. Being the final stop before the Florida Keys, Florida City provides an abundance of housing and industrial space to service the Florida Keys. The land for sale is 20,400 SF (0.47 +/-acres) or 0.68 +/- Net Acres based on Florida City’s Zoning calculation. The site is Currently zoned for C-1 Neighborhood Commercial. However, the lot is directly on the South Dade Busway with stations adjacent to the property. This qualifies the property for rezoning into a Florida City TOD site that would allow a density of 36/units to the Net Acre and a lot coverage ratio of 1.0. The site being directly on Palm Avenue would call for retail/commercial on the ground floor. That being said, the City of Florida City will allow for developers to apply for a variance and have been known to work with developers to spur development in their City. The lot has immediate access to Palm Drive (AADT=27,500), the main east-west corridor for Florida City, which provides many residential and lodging, retail, dining, and recreational options. Through Palm Drive, South Dixie Highway (AADT=30,000) is a 0.2-mile drive from the property, providing access to the Florida Keys to the South as well as the rest of Miami-Dade and the greater South Florida area through major roadways. The entrance to the Florida Turnpike (18,000) is a 0.5-mile drive from the property and Krome Avenue (AADT=16,300), a major north-south corridor of South Miami-Dade, is one block east of the property. It is also home to Downtown Homestead, which is a 1.5-mile drive away on Krome Avenue and offers more dining and retail options featuring the new Homestead Station, as well as the Miami-Dade College Homestead Campus. In addition, the Miami-Dade Busway has a Park and Ride station adjacent to the property, which provides public transportation northbound to the Metro Rail, public transit options into downtown Miami, and beyond as well as the Dade Monroe Express providing public transit options for people employed in the Florida Keys. The area of South Miami-Dade, and specifically, Florida City, is seeing an abundance of residential and mixed-use developments as a result of the increasing living demand in the area. Once thought to be a smaller city on the way to the Florida Keys, Florida City has seen major national homebuilders such as D.R. Horton, Lennar, Ryan Homes, Onyx Homes and Century Homes developing large single-family, Townhouse and mixed-use communities throughout the City. In the immediate area, Lennar is building a single-family community with the details still awaiting announcement directly across on Palm Drive, D.R Horton is building two communities on Palm Drive across South Dixie Highway, Sebastian Isles and 129- home community named Baywood II. Just to the west of the property, all of the above mentioned builders are also in middle of planning, or recently completed large residential communities.