$2,000,000
1234 NW 9 Ave presents a rare opportunity to acquire a 9,000 SF development site in the heart of Miami’s urban core, zoned T-6-8-L under Miami 21. The property currently features an existing triplex operated as a rooming configuration, generating approximately $8,000 per month in income, providing immediate cash flow while redevelopment plans are pursued.The T-6-8-L zoning allows for high-density, mixed-use development, making this an ideal acquisition for investors and developers seeking to capitalize on Miami’s continued growth and demand for workforce and attainable housing. The lot size and zoning provide strong upside potential for multifamily, co-living, or vertical development concepts, subject to city approvals.This property is part of a larger portfolio offering. Notably, three adjacent parcels 914 NW 12 St, 1180 NW 11 Street Rd, and 1158 NW 11 Street Rd total approximately 24,000 SF and can be sold together as a separate assemblage, offering flexibility for buyers seeking a standalone development site. The remaining parcels include 741 NW 10 St (zoned T-6-8-O) and the subject property at 1234 NW 9 Ave.The full portfolio is offered at $10,000,000, presenting a unique opportunity to control scale in a rapidly evolving neighborhood near major transit, employment centers, and ongoing redevelopment. Ideal for investors seeking both in-place income and long-term development upside. This offering presents a rare opportunity to acquire a strategically located portfolio of properties within Miami’s rapidly evolving urban core, positioned in close proximity to Overtown, the Health District, Civic Center, and major transit corridors. The portfolio includes 1234 NW 9 Ave (subject property), along with 914 NW 12 St, 1180 NW 11 Street Rd, 1158 NW 11 Street Rd, and 741 NW 10 St, offering a unique combination of in-place income and long-term redevelopment potential.The subject property at 1234 NW 9 Ave consists of a 9,000 square foot lot zoned T-6-8-L under the Miami 21 zoning code. The site is currently improved with a triplex that is being operated as a rooming configuration, generating approximately $8,000 per month in gross rental income. This provides immediate cash flow for an investor while pursuing entitlement, design, or redevelopment strategies. The existing use demonstrates strong demand for affordable and workforce housing in the area, further supporting the viability of higher-density residential or co-living concepts.The T-6-8-L zoning designation allows for high-density, mixed-use development with a strong emphasis on urban, pedestrian-oriented design. Developers may benefit from the ability to pursue multifamily, co-living, or mixed-use projects, and may also explore additional incentives under programs such as the Live Local Act, subject to verification and compliance with applicable regulations. The site’s size and zoning provide flexibility in design and layout, making it suitable for a range of development concepts aimed at maximizing both density and livability.A key component of this offering is the adjacent three-parcel assemblage located at 914 NW 12 St, 1180 NW 11 Street Rd, and 1158 NW 11 Street Rd. These three properties are contiguous and collectively total approximately 24,000 square feet of land. Importantly, this assemblage can be sold together as a standalone development opportunity, independent from the remainder of the portfolio. This provides flexibility for buyers who may be seeking a larger footprint for immediate development, or alternatively, those who wish to acquire select portions of the portfolio based on their specific investment strategy.Additionally, the portfolio includes 741 NW 10 St, which sits on a 5,750 square foot lot and is zoned T-6-8-O. This property provides further optionality in terms of redevelopment or repositioning, complementing the overall scale and potential of the portfolio.The full portfolio is being offered at $10,000,000, presenting an opportunity to control multiple parcels within a concentrated and rapidly appreciating submarket. Buyers have the flexibility to acquire the entire portfolio or pursue the three-parcel assemblage separately, depending on their investment objectives.From a location standpoint, the properties benefit from close proximity to major employment hubs, including the Jackson Memorial Hospital campus, the University of Miami Health System, and the broader Civic Center and Health District. The area is also experiencing significant public and private investment, including large-scale mixed-use developments and infrastructure improvements that continue to drive demand for housing and commercial space.The portfolio is also well positioned near key transportation nodes, including the Culmer Metrorail Station and multiple bus routes, enhancing accessibility for residents and supporting transit-oriented development strategies. The combination of zoning, location, and surrounding growth makes this an ideal opportunity for developers seeking to capitalize on Miami’s continued urban expansion.Investors should note that the properties are being sold as-is, and buyers are responsible for conducting their own due diligence regarding zoning, development potential, and any applicable regulations or restrictions. The existing income at 1234 NW 9 Ave is based on a room rental configuration, and financials should be independently verified.In summary, this offering provides a compelling blend of current income, land assemblage potential, and long-term redevelopment upside in one of Miami’s most dynamic and transforming neighborhoods. Whether pursuing a phased development strategy, land banking, or immediate construction, this portfolio offers the scale, flexibility, and positioning to support a wide range of investment objectives.
A11988223
MLS
Miami
