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Description
Redevelopment opportunity. 3 parcels assemblage. Prime location with water views to Intracoastal and partial views of the ocean. Possibility to develop 16 luxury extended stay units in 4 story building with rooftop swimming pool. Plans not approved. Zoning: BRT-25-R. Buyer to confirm all information independently during due diligence. Renderings and survey are in the attachments.
Property is fully occupied and operated as airbnb. Current CAP 7% on purchase price. Potential pro forma on new development is double digits. Receive income while waiting on the approvals.
Location
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Courtesy of: LoKation MIAMI Association of REALTORS® is not responsible for the accuracy of the information listed above. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program and the South East Florida Regional MLS and is provided here for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than the office owning this website are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Data provided is deemed reliable but not guaranteed. Copyright MIAMI Association of REALTORS®, MLS All rights reserved. Updated: 25th June, 2022 12:50 PM (UTC)
