development site in miami price: $675,000
TRANSCRIPT
Development Site in Miami
Price: $675,000
7,750 SQFT Corner Redevelopment Lot in Miami
Liberal T68O zoning allows for 8 stories and27 units apartments
424 SW 22ND AVE. MIAMI, FL 33135424 SOUTHWEST 22ND AVENUE • MIAMI, FL 33135
4151 Hollywood Blvd | Hollywood, FL 33020 | Phone: (954) 361-0000 | Fax: (954) 361-0070 | www.DeMarcoGroup.com
John DeMarco, CCIMBroker / Owner
+19544531000
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projections and analysis. The informationprovided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or other professional advice, consultation or service. The user of thissoftware should consult with a professional in the respective legal, accounting, tax or other professional area before making any decisions.
TABLE OF CONTENTSProperty Summary
Property Description
Property Photos
Location Map
Business Map
Demographics
Zoning Description
Motto Mortgage
PROPERTY SUMMARY
Property SummaryProperty Type Commercial
Primary Land Use Mixed Use
Purchase Price $675,000
Available SF 3,087 Sq.Ft.
Lot Size 7,750 Sq. Ft.
Municipal Zoning T68O
Property OverviewThere are two buildings on the property. One is a single familyresidential home of 1,242 sqft the other is a two story building of 1,845sqft with two residential apartment units on the second floor. The firstfloor has been zoned for commercial use. Both buildings are situatedon a 7,750 sqft lot.
Location OverviewLittle Havana consists of 1,500 acres. It has the highest populationdensity in the City of Miami close to some 60,000 residents. 20% ofMiami’s rental housing stock is located in Little Havanna. More than 87percent of the rental properties go for less than $1,000 a month. Astrong revitalization of the city neighborhood is in progress with severalnew development projects within the vicinity. Recent new developmentprojects that have been approved by the city commissioner in LittleHavanna include apartment, office and condo buildings, hotels andmixeduse projects on land zoned for industrial uses.
PROPERTY DESCRIPTION
Just repriced! Located in Little Havana, 424 SW 22nd Ave. can be purchased as a future redevelopment site or as aninvestment property. There are two physical buildings on the lot measuring 1,845 and 1,242 SQFT for a total of 3,087rentable square feet. The total lot size measures 7,750 SQFT. The second floor of the properties consists of two builtoutresidential units that can start producing income along with the first floors are commercially oriented. Zoning: T68O (UrbanCenter Transect) allows for many uses such as residential, office, general commercial, hotel, and even storage. The totaldensity allows for 150 units per acre or 27 units with a zoning height of 8 stories. New development projects are becomingvery popular in this area with a new Class A residential tower located on the adjacent block called Columbus on Fifth, whichconsists of 72 units. Units in this building rent for as much as $1,600 per month. Capitalize on exposure and future growthof this community! Call for more information.
The property consists of two buildings. One building has two built out residential units on the second floor, the first floor arecommercial. The other property is the second floors of both buildings contain
DEMOGRAPHICS
Population 1 Mile 3 Mile 5 Mile
Male 27,847 (49.45 %) 160,738 (49.83 %) 253,245 (49.47 %)
Female 28,461 (50.55 %) 161,825 (50.17 %) 258,632 (50.53 %)
Total Population 56,308 322,563 511,877
Race Demographics 1 Mile 3 Mile 5 Mile
Population Non Hispanic White 51,306 276,562 404,041
Population Black 965 23,556 78,174
Population Am In/Ak Nat 1 44 80
Housing 1 Mile 3 Mile 5 Mile
Housing Units 22,695 149,861 228,468
Occupied Units 20,935 129,034 198,545
Owner Occupied Units 5,253 41,633 74,028
Renter Occupied Units 15,682 87,401 124,517
Vacant Units 1,760 20,827 29,923
DEMOGRAPHICS
Household Income 1 Mile 3 Mile 5 Mile
Median Income $24,447 $31,992 $33,503
Less than $10,000 4,100 20,098 28,987
$10,000 $14,999 2,549 12,680 18,222
$15,000 $19,999 2,540 11,283 15,985
$20,000 $24,999 1,526 9,769 14,391
$25,000 $29,999 1,839 7,757 11,822
$30,000 $34,999 1,558 6,990 11,381
$35,000 $39,999 1,164 7,014 10,182
$40,000 $44,999 1,239 6,577 9,829
$45,000 $49,999 655 4,812 7,515
$50,000 $59,999 1,176 8,309 12,566
$60,000 $74,999 708 9,388 14,749
$75,000 $99,999 758 8,516 14,489
$100,000 $124,999 277 5,467 9,061
$125,000 $149,999 120 2,848 4,989
$150,000 $199,999 272 3,814 5,567
Greater than $200,000 81 5,151 8,698
Age Breakdown 1 Mile 3 Mile 5 Mile
Ages 04 2,603 (4.62 %) 14,698 (4.56 %) 24,489 (4.78 %)
Ages 59 3,194 (5.67 %) 17,907 (5.55 %) 29,847 (5.83 %)
Ages 1014 2,964 (5.26 %) 16,229 (5.03 %) 27,291 (5.83 %)
Ages 1519 2,837 (5.04 %) 15,242 (4.73 %) 26,082 (5.10 %)
Ages 2024 2,963 (5.26 %) 15,805 (4.90 %) 27,300 (5.33 %)
Ages 2529 3,139 (5.57 %) 17,149 (5.32 %) 29,139 (5.69 %)
Ages 3034 3,356 (5.96 %) 19,043 (5.90 %) 30,946 (6.05 %)
Ages 3539 3,588 (6.37 %) 21,342 (6.62 %) 33,334 (6.51 %)
Ages 4044 3,889 (6.91 %) 23,551 (7.30 %) 35,989 (7.03 %)
Ages 4549 4,151 (7.37 %) 24,783 (7.68 %) 37,799 (7.38 %)
Ages 5054 4,034 (7.16 %) 23,789 (7.37 %) 36,544 (7.14 %)
Ages 5559 3,738 (6.64 %) 21,802 (6.76 %) 33,842 (6.61 %)
Ages 6064 3,303 (5.87 %) 19,525 (6.05 %) 30,383 (5.94 %)
Ages 6569 2,904 (5.16 %) 17,157 (5.32 %) 26,643 (5.20 %)
Ages 7074 2,568 (4.56 %) 15,043 (4.66 %) 23,183 (4.53 %)
Ages 7579 2,219 (3.94 %) 12,739 (3.95 %) 19,334 (3.78 %)
Ages 8084 1,758 (3.12 %) 9,992 (3.10 %) 14,792 (2.89 %)
Ages 85+ 3,100 (5.51 %) 16,767 (5.20 %) 24,940 (4.87 %)
ZONING DESCRIPTION
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Commercial
Loan Financing
Loan Programs:1. 5/7/10 Year Fixed ARM'S2. 25 Year or less amortizations3. Fixed Loans4. Low Interest RatesProperty Types but not limited to:Industrial, Mixed use properties, Assisted Living Facilities, Warehouses, Health Care Facilities, Bars and Restaurants, Day care operations, Agricultural, Gas stations, Unanchored retail, Auto dealers.
Call today and see what program you qualify for!
David IannucciLoan Originator
NMLS# 1013040Office: 954.790.116
[email protected]/offices/5-star-professionals-hollywood
1901 Harrison St Suite 101
Hollywood FL 33020