About this Property
This 5,552 square foot corner lot is zoned T5-R, permitting development up to 5 stories and 8 units, with an estimated 17,825 buildable square feet under Miami 21 zoning guidelines.The parcel offers corner exposure on 59th Street, across from a school and the Laundromat Art Space and sits adjacent to a church occupying the remaining section of the block fronting Northeast 2nd Avenue, providing a strategic corner position within the surrounding urban footprint. Located within a designated Opportunity Zone one block from the Magic City Innovation District and near the planned Tri-Rail Station corridor, it benefits from strong transit-oriented proximity. The property currently generates approximately $7,000 in gross monthly rental income and features four residential units where each unit includes a private backyard, separate address, independent utilities, impact windows, 4 water meters, and 4 FPL meters. The property is positioned in flood zone X, an area of minimal flood hazard. All buyers are advised to independently verify zoning specifications and transit timelines.
Disclaimer
MIAMI Association of REALTORS® is not responsible for the accuracy of the information listed above. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program and the South East Florida Regional MLS and is provided here for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than the office owning this website are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Data provided is deemed reliable but not guaranteed. Copyright MIAMI Association of REALTORS®, MLS All rights reserved. This property is courtesy of Beachfront Realty Inc.
