Designer Rental Compound 8270-8280 NE 1st Pl 3,271 SF of Flex Space Available in Miami, FL 33138

Covered land opportunity in the heart of Miami’s rapidly evolving Little River neighborhood. The property is zoned T5-O, allowing for a range of mixed-use residential and commercial development possibilities within Miami’s urban core. By-right, the zoning allows for a mixed-use or multifamily project of up to 19 units and 5 stories before bonuses with office and retail components optional, and the site located within an Opportunity Zone and with Live Local Eligibility which would allow for up to 292 units and 8-12 stories. Situated right on the cusp of the T6-8-O district, there could also be an up-zoning play based on recent precedent and direct proximity to the boundary. The site is currently improved with a fully renovated five-unit compound (four multifamily units and one single-family residence) providing the potential for interim income while development plans are pursued. The majority of the property is currently being rented as short-term rentals and thrives in an AirBnB model but would be just a suitable for traditional month-to-month or annual rentals, as well as rented on a master lease to a commercial use such as a school, artist campus, health and wellness facility, etc. Strategically located directly adjacent to The Citadel and Little River’s “Uptown District” with highly walkable food and beverage, retail and lifestyle brands lining the streets, the property sits within a special growth pocket experiencing significant investment, population growth, and ongoing urban redevelopment. An exceptional opportunity for investors and developers seeking to establish a presence in one of Miami’s most dynamic neighborhoods who also want to 1.) cover holding costs and 2.) limit capital expenditure in the interim with all renovated and building re-certified improvements.