Prime Mixed-Use Redevelopment Opportunity 728 NW 79 Street 13,129 SF Vacant Retail Building Miami, FL 33150 $12,423,688 CAD ($946.28 CAD/SF) 6.15% Cap Rate

Seller Financing Available | Prime Mixed-Use Redevelopment Opportunity
728 NW 79th Street, Miami, FL 33150
Campos Commercial Real Estate is proud to present a rare income-producing redevelopment opportunity in the rapidly transforming NW 79th Street corridor of Miami. This property offers both immediate cash flow and long-term redevelopment potential, positioned within one of South Florida’s most dynamic growth markets.
Property Highlights
Total Land Size: ±42,000 SF (7 contiguous folios)
Zoning: NCUAD + T5-O (Live Local Act eligible)
Opportunity Zone: Yes – Federal tax incentive area
Frontage: ±189 feet on NW 79th Street with direct I-95 visibility (207,000+ AADT)
Parking: Over 175 on-site spaces
Seller Financing: Available
Turn-Key Income
Currently operating as a renovated nightclub, bar, and restaurant, the property generates strong, consistent income with a current NOI exceeding 5% and a pro forma potential of 20%+.
Breakdown:
Ground Floor: Fully built-out nightclub with commercial-grade kitchen
Second Floor: Separate club/bar or restaurant concept
Third Floor: Private suite or office with rooftop terrace and skyline views
Outdoor Venue: Turf field and large-screen entertainment area for events
Bonus Asset: Includes a 4COP liquor license — no longer issued by the city — providing substantial intrinsic value.
Redevelopment Potential
Under current zoning and Live Local Act parameters, the site offers extraordinary upside:
Practical Buildable Range: 300–500 residential units
Height Potential: Up to 13 stories, with 2–3 levels of parking and ground-floor retail
Cost Per Buildable Unit: Under $20K (compared to $300K+ area sellouts)
This creates a rare opportunity for developers to achieve significant margins in Miami’s high-demand multifamily and mixed-use sectors.
Market Momentum
The NW 79th Street corridor is in the midst of a major transformation fueled by public infrastructure and private redevelopment. Over 20,000 new residential units are planned or under construction nearby.
Notable Projects Include:
2390 NW 79th St (Swerdlow Group): 895-unit mixed-use project (37 acres)
3101 NW 79th St (Lennar): 498-unit condo development
3701 NW 79th St: 5,730 residential units + 370,000 SF commercial + new Tri-Rail station
Miami Court & 79th St (Gensler): 4,000+ unit redevelopment
Nearby North Bay Village is also evolving with luxury developments like Pagani Residences, Related/Macklowe Towers, and Shoma Bay, driving higher-income residents and tourism demand.
Investment Highlights
Immediate Cash Flow – Operate and earn while planning redevelopment
Live Local Act Incentives – Maximize density with streamlined approvals
Opportunity Zone – Significant tax benefits for investors
Strategic Frontage – Prime exposure along NW 79th Street with I-95 visibility
Surging Market – Surrounded by billions in active development
Financial Snapshot
Metric Current Pro Forma
NOI 5%+ 20%+
Monthly Revenue Up to $1M historically $1.2M+ potential
Summary
728 NW 79th Street offers a one-of-a-kind opportunity combining:
Immediate income generation
Irreplaceable licensing and parking assets
Exceptional redevelopment upside
Strategic positioning within Miami’s next major growth corridor