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
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
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.
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) |