The offering includes two contiguous lots totaling approximately 34,000 SF or 0.77 acres zoned T6-8-O. That means you’re looking at a by-right development potential for up to 116 multifamily units. Here’s the value-add: the site currently generates approx. $250,000.00 in annual rental income from a mix of short-term tenants across residential and commercial structures. That provides a strong carry while pursuing entitlements or finalizing plans. Add to that the Live Local Act incentives — no parking required in TOD zones, increased FAR, density, and height — and this site offers significant development upside. Just 2.5 miles from Miami International Airport and minutes from Wynwood, Downtown, and the Health District, this location combines accessibility with strong long-term potential.
Property Details
Price:
$3,900,000
MLS #:
A11833062
Status:
Active
Beds:
0
Baths:
0
Type:
Single Family
Subdivision:
MELROSE HEIGHTS 4TH SEC
Neighborhood:
Melrose Heights 4th Sec
City:
Miami
Listed Date:
Jul 2, 2025
State:
FL
ZIP:
33142
Lot Size:
34,000 sqft / 0.77 acres (approx)
Schools
Interior
Exterior
Financial
Tax Year
2024
Taxes
$34,774
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