We are pleased to provide you this Offering Memorandum outlining a compelling redevelopment opportunity for a T6-8O zoned redevelopment opportunity currently operating as shopping center located in Miami, Florida. With an advantageous zoning classification and strategic location, this property offers immense potential for redevelopment and maximizing returns in the thriving S. Florida real estate market.
1. Prime Location: Strategically situated in a high-traffic area of Miami directly on SW 27th Avenue, the shopping center benefits from excellent visibility and accessibility. A short distance from Little Havana, Coconut Grove, Coral Gables, Downtown Miami, highways, bus lines, and Metro Rail station, this location is ideal with an underservedhousing market.
2. Growing Market: Miami is experiencing a consistent influx of residents and businesses, making it an ideal location for redevelopment projects.
3. Zoning Advantages: The T6-8O zoning classification allows for significant redevelopment options, encouraging mixed-use and/or high-density projects. Take advantage of the current zoning and the SB-102 Live Local Act tax credits.
4. Diverse Usage Potential: The property is ideal for multi-family housing, retail, commercial, or a mixed-use development, providing various investment opportunities. Additionally, the current income stream will a provide cash flowing asset while plans are approved.
5. Development Incentives: The State of Florida and Miami-Dade County offers several incentives for redevelopment projects, including tax abatements and grants, enhancing the property's value proposition. The “Missing Middle” Property Tax exemption encourages new or recently constructed developments to offer affordable units. Interested owners must first apply with Florida Housing to obtain Multifamily Middle Market certification notice and then with their local property appraiser, by March 1st, to obtain exemption.
6. Current Income Stream: The existing shopping center generates a steady income stream, providing a cushion during the redevelopment process.
7. Projected ROI: Projections indicate a substantial ROI upon successful redevelopment, in line with market trends and comparable projects.
8. Seller Financing: 50% LTV with competitive rates offered.
Call/Text Michelle Gonzalez at 305.582.4352 or email at Mgonzalez@flfirstrealty.com for more information.