2401 NW 17th Ave - 2401 Central

Property Website: www.2401Central.com
Aztec Group, as Owner’s exclusive agent, is pleased to offer the exceptional investment opportunity to acquire 2401 Central (the “Property”) – a unique multifamily development opportunity located on approximately 1.95 acres adjacent to the Miami Health District in the Allapattah neighborhood in Miami, Florida.
2401 Central is a unique development site of scale featuring potential to build 223 units as of right in a midrise design and up to 1,000 units per acre with the application of Live Local Act (SB102).
The Property is located adjacent to the Health District in Miami’s Central Business District – a 300-acre healthcare campus combining Jackson Memorial Hospital, VA Hospital, University of Miami Health System and educational facilities, Miami- Dade College Medical Campus, and judicial institutions.
The Property is nestled in a residential neighborhood, the Property boasts 286 feet of frontage on NW 17th Avenue (± 19,500 AADT) and 298 feet of depth which enables efficient rectangular floor plates, signage, and activation of streetscape.
Allapattah is a top apartment market, boasting 34.8% rent growth (6.2% CAGR) and average occupancy of 97.1% over the last 5 years.
INVESTMENT HIGHLIGHTS
- 2401 Central is zoned T6-8-O and T4-L, allowing for 223 units as of right in a midrise design. Unparalleled scale can be achieved via the Live Local Act (SB102) with up to 1,000 units per acre (1,950 units) and 4.6 million buildable square feet with a parking reduction.
- Desirable 75% real estate tax abatement provided under the Live Local Act for workforce designated units.
- Flexibility of development uses including residential, retail, F&B, office, hospitality, and healthcare.
- Ultra-efficient development parcel with ± 286 feet of frontage on NW 17th Avenue and ± 298 feet of depth, enabling freestanding structured parking configurations. Amazing visibility with ± 880 feet of combined street frontage and ± 19,500 cars per day on NW 17th Avenue.
AREA & MARKET HIGHLIGHTS
- Location within the 300-acre Miami Health District – including Jackson Memorial Health, University of Miami Healthcare System, and VA Hospital with a combined 2,800 licensed beds and nearly 25,000 doctors, faculty, students, and staff.
- The Health District is home to University of Miami Miller School of Medicine, Miami-Dade College Medical Campus, and high-profile civic and judicial institutions.
- Convenient access to I-95 and Dolphin Expressway, located 1 mile to the south and provides quick connectivity to Miami’s major employment centers including Downtown CBD, Brickell, Coral Gables, Doral, Airport Industrial Submarket, South Miami, and North Miami-Dade County.
- Florida is a top destination for relocating Americans, having gained on average 329,000 new residents per year from 2020 through 2023 and is forecast to grow by 295,000 new residents annually through 2027.
Property Website: www.2401Central.com
THERE IS NO COOPERATING BROKERAGE FEE AVAILABLE, ALL BROKERS MUST BE PAID BY THEIR CLIENT PROCESS WILL OPEN TO BROKERS SEPTEMBER 25TH - UNTIL THAT DATE THE PROCESS WILL ONLY BE OPEN TO PRINCIPALS DIRECT - NO BROKER SIGNED CONFIDENTIALITY AGREEMENTS WILL BE ACCEPTED