765 23rd St, Hialeah, FL 33010

Description

Trustpoint Realty is pleased to offer 765 W 23rd St, a ±20,800 SF infill site (approximately 104 ft x 200 ft) priced at $1,500,000 (about $72/SF). The property is a value-add entitlement opportunity, with upzoning potential to Neighborhood Business District (NBD). NBD permits up to 70 units per acre and 5 stories, which supports approximately 33 units on this site, or a basis of about $45,455 per unit. The site is offered as a covered land play. Existing improvements on the property allow a buyer to hold the land and help offset carrying costs while pursuing rezoning and site plan approvals. Investors and developers can bank a well-located, transit-oriented parcel today and position it for redevelopment as the corridor continues to densify. The site sits in a transitioning corridor. Light industrial zoning borders it to the north. To the east is a ±265,000 SF Miami-Dade County School Board parcel, which is currently in the bidding process for potential redevelopment. The property is 0.3 miles from Okeechobee Metrorail Station, has immediate access to the Hialeah Expressway and Okeechobee Rd, and is 3.3 miles from Miami International Airport. The OM and due diligence materials are available to qualified buyers.