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497-499 W 23rd St 2 biens • Hialeah, FL

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Faits saillants de l'investissement

Fully Approved, Shovel-Ready Development
Average rents in Hialeah remain meaningfully more affordable than the broader Miami market.

Existing retail component on-site provides interim cash flow, reducing carry costs during pre-development and construction phases.
Recent sales averaging ~$259K/unit and ~$13M per transaction, with institutional buyers actively acquiring stabilized assets in the submarket.

Résumé de l'annonce

Cushman & Wakefield is pleased to present a rare, shovel-ready development opportunity in the urban core of Hialeah—one of Miami-Dade County’s most densely populated and supply-constrained rental submarkets. The property consists of a ±18,650-square-foot corner parcel zoned C-2, fully approved and entitled for the development of a 28-unit multifamily project. The approved plans allow for immediate execution, enabling investors to bypass the entitlement process and capitalize on near-term development upside. The site is currently improved with a retail component generating in-place income, providing interim cash flow to partially offset carry costs during the development phase. The approved unit mix—comprised of 27 one-bedroom units and one two-bedroom unit—is strategically aligned with the area’s strong demand for attainable and workforce housing. Positioned within a high-demand rental corridor, Hialeah continues to benefit from limited new supply, high population density, and proximity to major employment centers, including Miami International Airport and surrounding industrial and logistics hubs. These fundamentals support sustained occupancy and rent growth, positioning the asset for a stable, income-driven exit or long-term hold strategy. With approvals secured and income in place, this offering represents a low-risk, high conviction development opportunity in a fundamentally strong and underserved market.

Faits sur la propriété

Condition de vente	Projet de redéveloppement	Individuellement en vente	0
Type de vente	Investissement	Taille totale du bâtiment	7 473 pi²
Statut	Actif	Superficie totale du terrain	0,43 AC
Nombre de propriétés	2

Condition de vente	Projet de redéveloppement
Type de vente	Investissement
Statut	Actif
Nombre de propriétés	2
Individuellement en vente	0
Taille totale du bâtiment	7 473 pi²
Superficie totale du terrain	0,43 AC