$2,650,000
2560 NW 20th St Miami, FL 33142
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$2,650,000
Est. payment /mo
0.51 Acres Lot
Active
2560 NW 20th St Miami, FL 33142
UPDATED:
09/30/2024 09:36 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID A11587767
HOA Y/N No
Year Built 1971
Annual Tax Amount $42,358
Lot Size 0.505 Acres
Property Description
The development potential of the property is supported by the city's "Miami 21" zoning code and the state's "Live Local Act." Under the current zoning provisions of Miami 21, the property is eligible for significant development, capable of supporting up to 75 residential units or 150 lodging units. This development can span a floor area of approximately 88,000 square feet, with building heights reaching up to eight stories.
Under the "Live Local Act," the property’s development capacity could be increased if specific conditions are met: if a rental multifamily project dedicates 40% of its units to workforce or affordable housing, and if a mixed-use project is proposed with at least 65% of the floor area designated as residential, the site could support up a height of 12 stories.
Under the "Live Local Act," the property’s development capacity could be increased if specific conditions are met: if a rental multifamily project dedicates 40% of its units to workforce or affordable housing, and if a mixed-use project is proposed with at least 65% of the floor area designated as residential, the site could support up a height of 12 stories.
Location
State FL
County Miami-dade
Area 31
Others
Tax ID 01-31-34-034-0220
Listed by Luxe Properties
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