Investment Overview

Marcus & Millichap is pleased to exclusively offer the sale of 237 NE 24th St Miami FL 33137 The property consists of an 11,000 SF (0.25 ac) lot. The property is on an excellent location off Biscayne Blvd in the Edgewater district. The property is fully approved for a 12-story multifamily residential development that is approximately 88,132 square feet and consists of 75 Affordable Mixed-Income units. Unit mix of the proposed development is 59 studio apartments and 16 1-bedroom apartments. Average daily traffic counts are 48,000 vehicles on Biscayne Blvd. The area has a dense population with over 510,000 residents living within a 5-mile radius. The average household income is over $92,000 within a 1-mile radius. The zoning of the property is T6-36A-O, Urban Core Transect Zone The property is in the heart of Miami’s Edgewater submarket, which is adjacent to other desirable submarkets including the Wynwood Arts District, Midtown Miami, the Design District, Miami Beach and Down-town. The property is within a half-mile of the Miami Design District, with notable luxury stores including Givenchy, Louis Vuitton, Hermes and Cartier. Miami Beach is just across the bayfront, and Downtown is within five miles of the property, with attractions including American Airlines Arena, Miami World Center and History Miami Museum