Overview

Description

41 East Flagler Street together with 62 NE 1st Street offers the opportunity to acquire for repurposing or redevelopment in the heart of Downtown Miami. This offering consists of 2 parcels containing two adjoining buildings on 36,750 square feet of land. Miami 21 zoning allows a developer to build up to 1,323,000 square feet and up to 80 stories high with the use of public benefits. The area also minimum parking space requirements due to the proximity of a variety of public transportation services such as Downtown's metromover. High occupancy in office and residential buildings in the area have driven rental rate increases. According to Miami Downtown Development Authorities, the Greater Downtown area has seen a 30% rise in population since just 2010, elevating the population estimate for 2016 to 88,540. Pedestrian traffic drives retailers and residents alike to the Central Business District with a daytime population estimated at 234,976.

Location
The Downtown Miami Core is bustling with daytime pedestrian traffic from local business and college students. New condo developments are contributing to the area's nightlife and creating more demand for local retailers. The area continues to experience high demand for office space, retail, condominium units and rental apartments. Residential occupancy is at a record high and construction of Paramount, Centro and Met3 will add to the growing demographic moving to the CBD.

Highlights

• 36,750 Square Foot Lot.
• 150' Frontage on East Flagler Street.
• 100' Frontage on NE First Street.
• T6-80-O Zoning.
• 1,323,000 square feet development potential.
• 844 buildable dwelling units.
• Flagler Street Beautification Project underway.
• Lower Parking Requirements due to Proximity to Metromover.

Documents

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