ElevenTrust is pleased to present this income producing property/development opportunity located at 4871 W. Flagler St., in the epicenter of Miami. Due to its proximity to Airport, Coral Gables, and Downtown Miami/Brickell, Flagami has become a sought-after neighborhood. Currently operating as a 16 Unit rental property. Property includes corner parcels, totaling 13,000 sq. ft, zoned T5-O. The property has 100 feet of frontage on West Flagler Street. Rents in the motel range from $75-$99/night, averages $25- $30k/month in income.
Just passed 40 Yr. Re-certification. The development potential on this land is to request a variance and change from T5-O to T6-O zoning. Once zoning is granted, the opportunity allows for an investor to build up 150 units/acre, which is approximately 44 units, minus setbacks. This is a lovely neighborhood located in Miami, west border of the City. This location has tons of character and unique diversity. Community is a mixture of Cubans and South American who are older and well-established. This location is mainly a residential neighborhood with a variety of owners and renters. Another great attribute this area offers is a low vacancy rate compared to many other neighborhoods in U.S. The property is very accessible, minutes from shops, restaurants, universities, expressways & airport.