Multi-Family
Allapattah Covered Land Assemblage
2716 NW 36th St, Miami, FL 33142
Listing Price: $8,950,000
Investment Overview
Marcus and Millichap is pleased to present the sale an assemblage of six properties at the intersection of NW 27th Avenue and NW 36th Street in Miami’s Allapattah Submarket. The property presents an opportunity for a developer looking to capitalize on Miami’s Development market or an owner/user looking to cement their own location.
This 81,750 Square foot property is located 2.5 miles from Downtown Miami and just 1.5 miles from Miami International Airport. It is strategically located on one of Miami’s main arteries of NW 36th St and right off NW 27th avenue which sees over 40,000 Vehicle per day. Furthermore, it is less than half a mile from FL State Rd 112/Airport Expressway which has traffic counts that exceeds 105,000 vehicles per day
The property can accommodate 139 units by right. With income in place, developers can cash flow while they are awaiting permits. However, 3 out of 4 the leases have a 6-month cancelation clause, so developers are not encumbered with long term leases.
Miami continues to see population growth and has very strong market fundamentals. The city’s growing population, strong job market, and appeal to both domestic and international investors make it an attractive destination for multifamily development.
Allapattah Covered Land Assemblage
Investment Highlights
- Covered Land Play: All Short-term leases with 3 out of 4 tenants having a 6-month termination clause, allowing a developer the opportunity to plan a project without incurring operating expenses.
- Centrally Located: Less than ½ mile from the 112 Expressway which provides easy connectivity to Wynwood, Medical District, Miami River, Downtown, Brickell & Miami Beach. 1.5 miles from Airport.
- The property is comprised of two different zonings, Mixed-Use and Light Industrial. 40,500 square feet are zoned T6-8-O while 41,250 square feet are zoned IU-1.
- Favorable Zoning: The property can accommodate development of 139 Multifamily units among other uses such as Industrial, Retail, Multifamily, Self-Storage & Office.
- Lot Dimensions: 300 feet of frontage along NW 36th Street | 272.5 feet of Depth | 27,000 vehicles per day.
- Allapattah is one of Miami's fastest growing neighborhoods; 1,250 units projected to be delivered within the next 5 years. Population exceeding 241,050 within a 3-mile Radius .
Exclusively Listed By
Financing By
Listing Price: $8,950,000
Investment Highlights
- Covered Land Play: All Short-term leases with 3 out of 4 tenants having a 6-month termination clause, allowing a developer the opportunity to plan a project without incurring operating expenses.
- Centrally Located: Less than ½ mile from the 112 Expressway which provides easy connectivity to Wynwood, Medical District, Miami River, Downtown, Brickell & Miami Beach. 1.5 miles from Airport.
- The property is comprised of two different zonings, Mixed-Use and Light Industrial. 40,500 square feet are zoned T6-8-O while 41,250 square feet are zoned IU-1.
- Favorable Zoning: The property can accommodate development of 139 Multifamily units among other uses such as Industrial, Retail, Multifamily, Self-Storage & Office.
- Lot Dimensions: 300 feet of frontage along NW 36th Street | 272.5 feet of Depth | 27,000 vehicles per day.
- Allapattah is one of Miami's fastest growing neighborhoods; 1,250 units projected to be delivered within the next 5 years. Population exceeding 241,050 within a 3-mile Radius .
Investment Overview
Marcus and Millichap is pleased to present the sale an assemblage of six properties at the intersection of NW 27th Avenue and NW 36th Street in Miami’s Allapattah Submarket. The property presents an opportunity for a developer looking to capitalize on Miami’s Development market or an owner/user looking to cement their own location. This 81,750 Square foot property is located 2.5 miles from Downtown Miami and just 1.5 miles from Miami International Airport. It is strategically located on one of Miami’s main arteries of NW 36th St and right off NW 27th avenue which sees over 40,000 Vehicle per day. Furthermore, it is less than half a mile from FL State Rd 112/Airport Expressway which has traffic counts that exceeds 105,000 vehicles per day The property can accommodate 139 units by right. With income in place, developers can cash flow while they are awaiting permits. However, 3 out of 4 the leases have a 6-month cancelation clause, so developers are not encumbered with long term leases. Miami continues to see population growth and has very strong market fundamentals. The city’s growing population, strong job market, and appeal to both domestic and international investors make it an attractive destination for multifamily development.
Exclusively Listed By
Financing By
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