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9880-9900 W Harbor Dr

$8,550,000

Description

APEX Capital Realty is proud to introduce the opportunity to acquire a shovel ready development site (“The Site”) with existing income in place in the exclusive Bay Harbor Islands of Miami. The site is comprised of two apartment buildings with direct waterfront views to the canal. The buildings sit on a combined lot totaling 22,500 SF / .52 Acres. The Site is prime for redevelopment and has approved plans for 30 luxury residential units with 62 parking spaces. The Site allows for multifamily or a condominium development. It also offers a 150’ frontage on the canal and allows for dock spaces.

Investment Summary

  • CURRENT TOTAL BUILDING SIZE: 17,801 SF
  • LOT SIZE: 22,500 SF / .52 ACRES
  • LOT DIMENSIONS: 150’ X 150′
  • WATERFRONT FRONTAGE: 150’
  • ZONING: RM-1
  • TOTAL PROPOSED SELLABLE SF: 55,716
  • ASKING PRICE: $8,550,000

Investment Highlights

  • Currently there are 13 leased multifamily units
  • Current Income of $267,480, expenses of $169,638, NOI is +/-$100,000/year
  • Up to 36 residential units can are allowed by the RM-1 zoning with TDR
  • Expansive area for docks which can be maximized by limiting the size of the slips.

Property Documents

  • 9880-9900 W Harbor Drive, Bay Harbor Islands, FL - OM - v4

Address

  • City: Miami
  • State/county: Florida
  • Neighborhood: Bay Harbor Islands
  • Country: United States

Detail

Updated on November 4, 2020 at 11:48 am

  • Price: $8,550,000
  • Land Area: 22500 SF
  • Property Type: Land Development
  • Property Status: For Sale

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Contact info

Garrick Benabe
Garrick Benabe

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