Hotel-Motel
Miami International Airport Development Opportunity
2400 NW 34th Ave, Miami, FL 33142
Listing Price: $7,990,000
Investment Overview
Marcus & Millichap has been selected to exclusively market for sale the Miami International Airport Land Development. The offering presents developers with an option to continue a shovel-ready hotel development project with Tryp by Wyndham or develop an alternative project. The Tryp by Wyndham project consists of 170 hotel units and roughly 160,000 SF. The development budget is estimated to be close to $50,000,000. If deciding to pursue an alternative use on the land, the 43,168 square-foot lot is zoned PLMUC under the Palmer Lake Metropolitan Urban Center. This zoning consists of high density and the greatest variety of uses including hotel, residential, retail, and commercial uses. In this case, zoning permits 375 hotel units per acre or 250 residential units per acre with no FAR restriction.New ownership will have the opportunity to capitalize on the pre-development work already completed and immediately start the in-place project or begin a new project.
Miami International Airport Development Opportunity
Investment Highlights
- Fully entitled and permitted shovel-ready development available.
- Only $1.5M in impact fees before commecing construction.
- Strong ADR and RevPAR market with a high barrier to entry.
- Unlimited FAR restrictions.
- Less than a mile from Miami International Airport.
- Zoning permits 250 multi family units per acre and allows for 375 hotel units per acre.
- Miami International Airport generates approximately 60 percent of all international visitors to Florida
- 5 min drive to corporate area Blue Lagoon and 10 minute drive to Downtown & Wynwood
Exclusively Listed By
Listing Price: $7,990,000
Investment Highlights
- Fully entitled and permitted shovel-ready development available.
- Only $1.5M in impact fees before commecing construction.
- Strong ADR and RevPAR market with a high barrier to entry.
- Unlimited FAR restrictions.
- Less than a mile from Miami International Airport.
- Zoning permits 250 multi family units per acre and allows for 375 hotel units per acre.
- Miami International Airport generates approximately 60 percent of all international visitors to Florida
- 5 min drive to corporate area Blue Lagoon and 10 minute drive to Downtown & Wynwood
Investment Overview
Marcus & Millichap has been selected to exclusively market for sale the Miami International Airport Land Development. The offering presents developers with an option to continue a shovel-ready hotel development project with Tryp by Wyndham or develop an alternative project. The Tryp by Wyndham project consists of 170 hotel units and roughly 160,000 SF. The development budget is estimated to be close to $50,000,000. If deciding to pursue an alternative use on the land, the 43,168 square-foot lot is zoned PLMUC under the Palmer Lake Metropolitan Urban Center. This zoning consists of high density and the greatest variety of uses including hotel, residential, retail, and commercial uses. In this case, zoning permits 375 hotel units per acre or 250 residential units per acre with no FAR restriction.New ownership will have the opportunity to capitalize on the pre-development work already completed and immediately start the in-place project or begin a new project.
Exclusively Listed By
