2935 SW 27th Ln - GROVE "CHIC" RESIDENCE

0.31 Acres of Commercial Land Offered at $3,000,000 in Miami, FL 33133

INVESTMENT HIGHLIGHTS

  • Within TOD
  • Live Local allows up to 60 doors
  • Across Grove central station and Coconut Grove

EXECUTIVE SUMMARY

SYLVANMERE Primary Zone: T 4 L
1 Single Family Home
1 Duplex
Floors: 1 | Living Units: 3 Adjusted Area: 3,288 sqft
Lot Size(combined): 13,567 sqft
Along UNDERLINE
Between Coconut Grove & Brickell Within the TOD
T4 L zoning
Asking $3,000,000.00

FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access

ANNUAL ANNUAL PER AC
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Net Operating Income - -

PROPERTY FACTS

Price $3,000,000
Sale Type Investment
Sale Conditions Redevelopment Project
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Mixed Use
  • Multifamily
Total Lot Size 0.31 AC

1 LOT AVAILABLE

Lot 0141160370

Price $3,000,000
Price Per AC $9,632,210.11
Lot Size 0.31 AC

The offering comprises (1) single-family home & 1 duplex totaling +/- 14,000 feet of land. The lot(s) assemblage allows 50 units via Live Local on (5) floors reducing parking by 80-85%. This development could deliver the Highest & Best Use as a

DESCRIPTION

RE/MAX 360 proudly presents a prime redevelopment directly along The Underline, "GROVE CHIC RESIDENCE". The offering is comprised of (1) single-family home & 1 duplex totaling +/- 14,000 feet of land.The lot(s) assemblage allows 50 units via Live Local on (5) 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 T4-L 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 anywhere from 50 to 60 units on 5-6 stories.

Walk Score®
Very Walkable (86)
Bike Score®
Biker's Paradise (91)

ZONING

Zoning Code T 4L (T4-L zoning. The property sits in the TOD (transit orient development boundary) allowing for even greater density and intensity)
  • Listing ID: 34123355

  • Date on Market: 12/7/2024

  • Last Updated:

  • Address: 2935 SW 27th Ln, Miami, FL 33133