Multi-Family

Health District Redevelopment Site

1608-1616 Northwest 7th Avenue & 1621 Northwest 7th Court, Miami, FL 33136

Listing Price: $2,200,000

Lot Size
0.38 acres
Price/Acre
$5,731,922
Land Type
Redevelopment

Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Health District Redevelopment Site, a three-parcel assemblage located in the Civic Center neighborhood of Miami, Florida. SUBJECT PROPERTY The Health District Redevelopment Site is comprised of three parcels with a combined lot size of 16,719 square feet or 0.38 acres. Parcel A (1608 NW 7th Avenue) consists of 5,750 square feet, Parcel B (1616 NW 7th Avenue) consists of 4,969 square feet and Parcel C (1621 NW 7th Court) consists of 6,000 square feet of vacant land. Parcel A & B currently have a combined mixed-use two-story apartment building consisting of eight efficiency apartments and 10 one-bedroom | one-bathroom apartments and two warehouse units consisting of 7,693 square feet of rentable space. The zoning code for this area is CI-HD which allows for a density of 150 du/acre. It is anticipated that in incoming investor will redevelop the current property into an apartment building or work force housing to capitalize on the central location and maximize the highest and best use for this property. LOCATION The Health District Redevelopment Site is ideally located just two blocks east of Jackson Memorial Hospital along NW 7th Court and US-441. The location is centrally located within the Miami Health District which is bound roughly by Northwest 20th Street and 14th Avenue to the northwest, the Dolphin Expressway and the Miami River to the south and west, and the Midtown Interchange and Interstate 95 to the east. The location offers immediate access to the Dolphin Expressway (Interstate 395 and 836) and Interstate 95 allowing expedient access to reach all of what the greater Miami has to offer. Downtown Miami, Brickell Citi Centre, Wynwood, Edgewater, American Airlines Arena, Marlins Stadium, World Famous South Beach and the Miami International Airport can all be reached in less than a 15-minute drive from the site. The surrounding neighborhood consists primarily of medical practices and businesses as well as multifamily properties. The Health District consists of various medical and research facilities, clinics and offices that support Jackson Memorial Hospital and the University of Miami (UM) Leonard M. Miller School of Medicine and the UM Life Science and Technology Park. The area is the central hub of Miami's emerging biotech and medical research industry. Jackson Memorial Hospital is an accredited, non-profit, tertiary-care hospital and the major teaching facility for the University of Miami School of Medicine. It is the third-largest public hospital and third-largest teaching hospital in the United States. With more than 1,550 licensed beds, Jackson Memorial Hospital is a referral center, a magnet for medical research and home to Ryder Trauma Center - the only adult and pediatric, Level 1, trauma center in Miami-Dade County (source: https://jacksonhealth.org/) The Jackson Health System is also the 5th largest public employment system in Miami- Dade County. Other nearby points of interest include the Adrienne Arsht Center for Performing Arts (1.3 miles), Wynwood Arts District (1.3 miles), Marlins Park (1.4 miles), Publix Supermarket (1.6 miles), Phillip and Patricia Frost Museum of Science (1.6 miles), American Airlines Arena (1.7 miles), Bayfront Park (2.2 miles), Brickell City Center (2.2miles) and Miami Beach (5.1 miles). SUMMARY The Health District Redevelopment Site is offered for sale free and clear of debt at $2,200,000.

Investment Highlights

  • Excellent Location Within Miami Health District (Civic Center)
  • Proximate to Dolphin Expressway, Interstate 95 and US-441
  • Short Drive to Downtown Miami, Bayfront Park, Marlins Park, Wynwood, and Miami Beach

Exclusively Listed By

Listing Price: $2,200,000

Lot Size
0.38 acres
Price/Acre
$5,731,922
Land Type
Redevelopment

Investment Highlights

  • Excellent Location Within Miami Health District (Civic Center)
  • Proximate to Dolphin Expressway, Interstate 95 and US-441
  • Short Drive to Downtown Miami, Bayfront Park, Marlins Park, Wynwood, and Miami Beach

Investment Overview

Marcus & Millichap, as exclusive listing agents, are pleased to offer for sale the Health District Redevelopment Site, a three-parcel assemblage located in the Civic Center neighborhood of Miami, Florida. SUBJECT PROPERTY The Health District Redevelopment Site is comprised of three parcels with a combined lot size of 16,719 square feet or 0.38 acres. Parcel A (1608 NW 7th Avenue) consists of 5,750 square feet, Parcel B (1616 NW 7th Avenue) consists of 4,969 square feet and Parcel C (1621 NW 7th Court) consists of 6,000 square feet of vacant land. Parcel A & B currently have a combined mixed-use two-story apartment building consisting of eight efficiency apartments and 10 one-bedroom | one-bathroom apartments and two warehouse units consisting of 7,693 square feet of rentable space. The zoning code for this area is CI-HD which allows for a density of 150 du/acre. It is anticipated that in incoming investor will redevelop the current property into an apartment building or work force housing to capitalize on the central location and maximize the highest and best use for this property. LOCATION The Health District Redevelopment Site is ideally located just two blocks east of Jackson Memorial Hospital along NW 7th Court and US-441. The location is centrally located within the Miami Health District which is bound roughly by Northwest 20th Street and 14th Avenue to the northwest, the Dolphin Expressway and the Miami River to the south and west, and the Midtown Interchange and Interstate 95 to the east. The location offers immediate access to the Dolphin Expressway (Interstate 395 and 836) and Interstate 95 allowing expedient access to reach all of what the greater Miami has to offer. Downtown Miami, Brickell Citi Centre, Wynwood, Edgewater, American Airlines Arena, Marlins Stadium, World Famous South Beach and the Miami International Airport can all be reached in less than a 15-minute drive from the site. The surrounding neighborhood consists primarily of medical practices and businesses as well as multifamily properties. The Health District consists of various medical and research facilities, clinics and offices that support Jackson Memorial Hospital and the University of Miami (UM) Leonard M. Miller School of Medicine and the UM Life Science and Technology Park. The area is the central hub of Miami's emerging biotech and medical research industry. Jackson Memorial Hospital is an accredited, non-profit, tertiary-care hospital and the major teaching facility for the University of Miami School of Medicine. It is the third-largest public hospital and third-largest teaching hospital in the United States. With more than 1,550 licensed beds, Jackson Memorial Hospital is a referral center, a magnet for medical research and home to Ryder Trauma Center - the only adult and pediatric, Level 1, trauma center in Miami-Dade County (source: https://jacksonhealth.org/) The Jackson Health System is also the 5th largest public employment system in Miami- Dade County. Other nearby points of interest include the Adrienne Arsht Center for Performing Arts (1.3 miles), Wynwood Arts District (1.3 miles), Marlins Park (1.4 miles), Publix Supermarket (1.6 miles), Phillip and Patricia Frost Museum of Science (1.6 miles), American Airlines Arena (1.7 miles), Bayfront Park (2.2 miles), Brickell City Center (2.2miles) and Miami Beach (5.1 miles). SUMMARY The Health District Redevelopment Site is offered for sale free and clear of debt at $2,200,000.

Exclusively Listed By

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