7900 NW 21st Avenue

Description:

Fraca Residences presents a rare opportunity to acquire a fully approved site plan for a striking, modern 26-unit multifamily development with two ground-floor retail spaces in the heart of Miami, now offered at $1,390,000. Located on a 9,450 SF corner lot at 2101 NW 79th Terrace, the project showcases a sleek five-story design with contemporary architecture, open balconies, and thoughtfully planned unit layouts that align with today's market demands. All architectural and engineering work has been completed and is ready for immediate submission for building permit, allowing investors to move swiftly into the construction phase. With full entitlements and a market-forward design, Fraca Residences is a standout investment opportunity in one of Miami's most dynamic growth corridors. The development includes four designated Workforce Housing Units (WHUs) and benefits from a 25% density bonus under NCUAD zoning, while also qualifying for tax incentives and expedited permitting under Florida's Live Local Act. Positioned just minutes from key transit hubs and major retailers, and surrounded by large-scale redevelopment activity, this site offers immediate value in a high-demand submarket where occupancy rates exceed 95% and rents continue to rise.