2560 Nw 20th St, Miami, FL 33142

$3,500,000
List Price
$3,500,000
MLS#
A11587767
Status
ACTIVE
Type
Commercial

Property Description

The development potential of the property is supported by the city's "Miami 21" zoning code and the state's "Live Local Act." Under the current zoning provisions of Miami 21, the property is eligible for significant development, capable of supporting up to 75 residential units or 150 lodging units. This development can span a floor area of approximately 88,000 square feet, with building heights reaching up to eight stories. Under the "Live Local Act," the property’s development capacity could be increased if specific conditions are met: if a rental multifamily project dedicates 40% of its units to workforce or affordable housing, and if a mixed-use project is proposed with at least 65% of the floor area designated as residential, the site could support up a height of 12 stories.

Additional Information

Days on Market
12
Tax Amount
$42,358
Parcel Number
01-31-34-034-0220
Lot Size
22,000
Address
2560 Nw 20th St, Miami
Year Built
1971
Section
34

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