645 SW 16th Ave, Miami, FL - Little Havana | SW 7th Street Corner Development Site

Listing Images

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List Price

$1,400,000

PSF

$142

Cap Rate

PPSF

$142

Lot Size

9,863 SF

Key Highlights

9,863 SF lot with T5-O zoning, enabling 5-stories in height at 65 units per acre, supporting 14 residential units or 28 hotel keys as-of-right, with additional density possible under the Live Local Act.

Situated just one block from the most active and sought-after stretch of Little Havana, which attracts an estimated 3 million tourists annually between SW 17th Avenue and SW 12th Avenue.

Steps from Calle Ocho’s iconic destinations, including the world-famous Ball & Chain nightclub and Domino Park, two of Miami’s top cultural landmarks.

Just 1.5 miles from Brickell, Miami’s financial district, featuring a median household income exceeding $129,000 and some of the highest employment density in the Southeast.

Located in one of Miami-Dade County’s most densely populated neighborhoods, with over 60,000 residents within a 1-mile radius and more than 300,000 residents within a 3-mile radius.

Little Havana remains one of Miami’s tightest multifamily submarkets, with a vacancy rate hovering around 3%. Limited new construction and sustained renter demand make it one of the strongest multifamily markets in Miami-Dade County.

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645 SW 16th Ave, Miami, FL - Little Havana | SW 7th Street Corner Development Site

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The information contained on this website is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap (including Marcus & Millichap Real Estate Investment Services, Inc. and its affiliated entities and subsidiaries) and distribution to any other person or entity without the express written consent of Marcus & Millichap is strictly
prohibited. This website provides summary, unverified information to prospective purchasers, and has been prepared to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. Marcus & Millichap has not made any investigation, and makes no representation or warranty, that the information on this website has not changed since it was originally prepared and posted. The information contained on this website has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all the information set forth herein.

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