Commercial property in Miami, Florida 138.61 sq.m. № 1828163

Property description

Rare development opportunity in the heart of Coconut Grove! Fully leased, income-producing duplex on a 6,000 SF duplex-zoned lot with two excellent tenants in place. Ideal for new construction, with conceptual plans available to build two luxury townhomes (approx. 1,845 SF each, 3 bed / 3 bath). Estimated hard cost is $200/SF, with a projected all-in cost of $1.3M per townhome. Resale comps in the $1.6M+ range offer strong upside for developers. Utilities at street. Survey and conceptual plans available. Lot may be split, buyer to verify with city. Prime location near parks, shops, schools, and dining. Drive-by only; do not disturb tenants. Showings will be scheduled for serious buyers only.