Description
1547 NW 2nd St,
Miami,
FL
33125
Site Plan Approved 2-story 10-unit development site in Little Havana, Miami, Florida w/ 100% parking reduction. Permit approval & 100% parking reduction approval in next 2 to 3 months. The Pennant Apartments has the permit set available for review during due diligence. Plans & renderings by Modis Architects. Zoned T5, the project is on a 7,000 SF lot w/ 8,745 planned buildable & 6,593 leasable SF. Existing improvements generate current income of $2,300/mo covering expenses until demo. Hot Little Havana continues to develop as Brickell expands wests & achieves $4/SF/mo in rental rates. See attached proforma rental model & development/IRR model showing a approx. 32% return. Near the Stadium & well positioned between Brickell, Wynwood, the Hospital District, Roads, Gables & Grove.
Price History
| date | price | variance | type | global |
|---|
| 10/3/2022 | $950,000 | - | Sold | view listing |
| 8/16/2022 | $950,000 | - | Listed |
| 3/31/2021 | $575,000 | - | Sold |
listing agent: Brian Carter
