UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 849 sqft
Price per Sqft $823
Subdivision Palomar Sub
MLS Listing ID A11942536
Style Detached,One Story
Bedrooms 2
Full Baths 1
HOA Y/N No
Year Built 1950
Annual Tax Amount $8,552
Tax Year 2025
Lot Size 7,800 Sqft
Property Sub-Type Single Family Residence
Property Description
This is a high-upside, infill development opportunity in a prime Biscayne corridor location. The 7,800 SF R5-zoned lothas received city confirmation allowing 3–7 residential units and qualifies for the Floating Density Factor, creating significant flexibility and upside. City correspondence confirming potential unit count is available upon request.
An existing single-family residence sits on the property, offering a strategic advantage: the ability to secure conventional financing and deploy capital toward redevelopment—a major win in today's lending environment.
Opportunities like this do not last. R5 lots with documented density potential are extremely limited.
VALUE-ADD & EXPANSION POTENTIAL
• Adjacent parcel may be available, allowing assemblage and expansion to up to 14 units.
• Proven development success across the street, where an investor has completed 18 units, validating density and market demand.
• Strong rental demand fueled by proximity to Biscayne Park, Biscayne Blvd, restaurants, retail, and nightlife, all within walking distance.
This is an ideal play for developers, builders, and long-term investors seeking density, location, and scalable upside in a supply-constrained market.
Location
State FL
County Miami-dade
Community Palomar Sub
Area 22
Direction From Biscayne Blvd (US-1) go west on NE 123rd St. Turn right (north) on NE 12th Ave, then right on NE 121st St. Turn left on NE 11th Pl. Property will be on the right.
Interior
Interior Features Bedroom on Main Level, First Floor Entry
Heating Central, Electric
Cooling Central Air
Flooring Hardwood, Wood
Appliance Dryer, Electric Range, Disposal, Microwave, Refrigerator
Exterior
Exterior Feature Deck
Pool None
View Y/N No
View None
Roof Type Built-Up
Porch Deck
Garage No
Private Pool No
Building
Lot Description 1/4 to 1/2 Acre Lot
Faces South
Story 1
Sewer Public Sewer
Water Public
Architectural Style Detached, One Story
Structure Type Block
Schools
Middle Schools North Miami
Others
Senior Community No
Restrictions OK To Lease
Tax ID 06-22-29-031-0630
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Listed As-Is
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11942536
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Kate Zhurko
Broker Associate | License ID: 3229050
Broker Associate License ID: 3229050
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