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2742 SW 8th St - Urban Core Miami Shopping Center Redev. 1.74 Acres of Commercial Land Offered at $26,342,361 CAD in Miami, FL 33135
INVESTMENT HIGHLIGHTS
- 40,000+ SF of Existing Buildings on 75,923 SF of Land | Rare Covered Land Opportunity Generating $850,000+ NOI | 90% of Tenants MTM or Rolling by 2026
- Little Havana ranks among the most densely populated submarkets in Miami-Dade County, nearly 40,000 residents within 1 mile and over 300,000 radius.
- Rare opportunity to acquire a long-held asset—owned for more than 40 yrs— all leases structured to roll within 24 months, for immediate repositioning.
- Current zoning allows, as-of-right, a minimum of 280 residential units, without factoring in additional density permitted under the Live Local Act.
- Property sits along Calle Ocho—one of Miami’s most iconic and highly traveled corridors—close to Brickell and Coconut Grove's CocoWalk.
- Catty-corner to Miami Dade College’s Padrón Campus — part of the Miami Dade College network serving 120,000+ students annually.
EXECUTIVE SUMMARY
The current zoning allows for a 280-unit multifamily building by right or a 300-unit multifamily building utilizing the Live Local Act. This property currently consists of 36 tenants that are all on short term leases and generates over $850,000 a year in NOI giving developers a steady cash flow while they await permits for redevelopment.
The subject property is centrally located near Miami’s most desirable neighborhoods such as Coral Gables, Brickell, Coconut Grove, and Downtown Miami. It is less than 3 miles from Brickell City Center and Coconut Grove’s Coco Walk and within 1.5 miles from Little Havana’s world-famous Ball and Chain night club and Café La Trova.
Little Havana is one of the most densely populated neighborhoods in Miami-Dade County with a 1-mile density of roughly 40,000 residents and over 300,000 residents within a 3-mile radius. Additionally, the vacancy rates in Little Havana are some of the lowest in Miami-Dade County boasting multifamily vacancy rates of below 5%.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $26,342,361 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 1.74 AC |
| Property Type | Land | ||
| Zoning | T6-8-O | ||
| Price | $26,342,361 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 1.74 AC |
| Zoning | T6-8-O |
1 LOT AVAILABLE
Lot
| Price | $26,342,361 CAD | Lot Size | 1.74 AC |
| Price Per AC | $15,113,646.70 CAD |
| Price | $26,342,361 CAD |
| Price Per AC | $15,113,646.70 CAD |
| Lot Size | 1.74 AC |
DESCRIPTION
40,000+ SF of Existing Buildings on 75,923 SF of Land | Rare Covered Land Opportunity Generating $850,000+ NOI | 90% of Tenants MTM or Rolling by 2026 — Ideal for Repositioning or Future Redevelopment. Current zoning allows, as-of-right, a minimum of 280 residential units, without factoring in additional density permitted under the Live Local Act. Ownership engaged Bercow Radell Fernandez Larkin & Tapanes to complete a zoning study, which is available to share with qualified buyers upon request. Little Havana ranks among the most densely populated submarkets in Miami-Dade County, boasting nearly 40,000 residents within 1 mile and over 300,000 residents within a 3-mile radius. The subject property sits along Calle Ocho—one of Miami’s most iconic and highly traveled corridors—located less than 3 miles from Brickell, approximately 1.5 miles from Coconut Grove’s CocoWalk, and just minutes from Little Havana’s Art & Entertainment District, which draws more than 3 million visitors each year. Rare opportunity to acquire a long-held asset—owned for more than 40 years—with all leases intentionally structured to roll within 24 months, providing immediate repositioning or redevelopment flexibility. Catty-corner to Miami Dade College’s Padrón Campus — part of the Miami Dade College network serving 120,000+ students annually — and directly on Calle 8 with exposure to 35,000 vehicles per day. Unique parcel configuration allows for multifamily development on the 2742 parcel — a perfectly rectangular site — while utilizing 833 SW 29th Ave for a detached parking garage, resulting in significant development cost savings.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,669,990 CAD | |
| Land Assessment | $7,400,588 CAD | Total Assessment | $12,832,145 CAD |
PROPERTY TAXES
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2742 SW 8th St - Urban Core Miami Shopping Center Redev.
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