Executive Summary:
Metro 1 Commercial QOZB LLC (“Metro 1”) exclusively presents for sale the property located at 6900-6920 NE 2 Avenue, Miami, FL (“The Property”).
The Property is located at NE 2 Avenue in the Little Haiti/Little River neighborhood, just north of the Design District and the Magic City Innovation District, with easy access to Miami Beach and Major highways such as I-95 and I-195. Only minutes away from Wynwood, Midtown, and the Biscayne Corridor.
The Property is zoned T5-O, which allows for up to 65 units per acre and up to five stories.
Under the Live Local Act, the Property may be able to apply to a density of up to 150 units+ and 8 stories, by renting at least 40% of the units to residents earning up to 120% area median income (“AMI”).
The area is ripe for development, with major projects nearby like the Magic City Innovation District - Little Haiti with 2,700 units, AJ Capital’s Little River with a few hundred units, CEDARst’s multifamily project on 77th St & NE 2 Ave with 191 units, and Morgan Reed’s Little River Center with 100 units.
Property Specs:
+ Property Address: 6900-6920 NE 2 Avenue, Miami, FL
+ Reduced Asking Price: $2,500,000
+ Lot Size: 22,848 SF (0.5245 Acres)
+ Price PSF: $109 PSF
+ Zoning: T5-O (Allows 5 stories, 80% lot coverage, 65 du/acre)
+ Density: 34 Units
+ Buildable SF: 91,392 SF
+ Eligible for Live Local: Allowing for max. height within 1 mile and max. density in local jurisdiction
Little Haiti/Little River:
Little Haiti/Little River has been undergoing a resurgence for the past 10 years, with a critical mass of renovated warehouse and retail buildings, existing businesses, and a number of planned vertical projects in the horizon.
The neighborhood is broken up into several "micro-neighborhoods”, including the Magic City Innovation District - Little Haiti, AJ Capital’s Little River, Miami Ironside, and the Citadel Food Hall and neighboring projects. Each micro-neighborhood with its own identity and master plan.
The Magic City Innovation District - Little Haiti will be developed into 2,700 residential units, 2M SF of office space, 500,000 SF of retail space, over 450 hotel units, and incorporate a commuter train station and a grand promenade.
LittleRiver.Miami district currently houses over 40 businesses spanning from restaurants to galleries to creative offices. Some of its most recognized businesses include the trendy pizzeria La Natural, national coffee roaster Counter Culture, local coffee shop Imperial Moto Cafe, artist studios Fountainhead Studios, the Center for Subtropical Affairs, and many more.
Ironside features a vibrant, mixed-use urban center developed by visionary Ofer Mizrahi. With 60+ design showrooms, beauty salons, , local shops, art studios, cafes, playrooms, galleries and a wellness center.
JUAN ANDRES NAVA
MANAGING DIRECTOR
786.690.7500
ANAVA@METRO1.COM
CHRIS FUNK
SALES ADVISOR
305.619.6836
CFUNK@METRO1.COM