150 NE 59th St, Miami FL 33137

About This Property

Corner lot currently with two duplex buildings totaling 1,909 adjusted sf of construction - 4 units total , each 1bed +1bath, with long-term tenants in place, generating steady income until development begins. Each unit has a private backyard, separate address and tenants pay their own utilities . Impact windows throughout - 4 water meters and 4 FPL meters . Zoned T5-R allowing by right development up to 5 stories and 8 units -17,825 buildable SF estimated under Miami 21 on 5.552 Sq ft corner lot. Open corner exposure directly across from a school maximizes light and sight lines for future development .The lot backs up to a church that occupies the entire block fronting NE 2nd Avenue- this is the only property sharing that block with the church ,offering added privacy and unique dual -frontage advantage. Located in a federally designed Opportunity Zone. One block from Magic City Innovation District -the recently revived $3B AI-focused development anchored by Dragon Global and less than 3 blocks away to the planned Innovation District Tri-Rail Station (Northeast Corridor). Strong land appreciation and redevelopment potential with zoning that allows vertical growth. Across from Laundromat Art Space gallery. Flood zone X. Buyer to verify all zoning, transit distance and eligibility independently.

Property Details

Property Type

Commercial Land

Status

Active

MLS #

A12063358

Lot Size

5,552 SF

Zoning

T5-R

Days on Market

12

Price

$1,750,000