9880 West Bay Harbor Drive

Bay Harbor Islands, FL 33154

Listing ID: 187587
$8,550,000
For Sale
  • Lot Size Acres 0.520
  • Land Sq Ft 22,500
  • Land Price per Sq Ft $380.00
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Description

APEX Capital Realty is proud to introduce the opportunity to acquire a shovel ready development site (“The Site”) with existing income in place in the exclusive Bay Harbor Islands of Miami. The site is comprised of two apartment buildings with direct waterfront views to the canal. The buildings sit on a combined lot totaling 22,500 SF / .52 Acres. The Site is prime for redevelopment and has approved plans for 30 luxury residential units with 62 parking spaces. The Site allows for multifamily or a condominium development. It also offers a 150’ frontage on the canal and allows for dock spaces.

Investment Summary

CURRENT TOTAL BUILDING SIZE: 17,801 SF

LOT SIZE: 22,500 SF / .52 ACRES

LOT DIMENSIONS: 150’ X 150?

WATERFRONT FRONTAGE: 150’

ZONING: RM-1

TOTAL PROPOSED SELLABLE SF: 55,716

ASKING PRICE: $8,550,000

Investment Highlights

Currently there are 13 leased multifamily units

Current Income of $267,480, expenses of $169,638, NOI is +/-$100,000/year

Up to 36 residential units can are allowed by the RM-1 zoning with TDR

Expansive area for docks which can be maximized by limiting the size of the slips.

Attachments & Files
Listing Demographics

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population12,270105,655309,462
Population Median Age434040
Population by Age0-9 Yrs1828 (14%)12371 (11%)35845 (11%)
10-19 Yrs1206 (9%)10428 (9%)32278 (10%)
20-29 Yrs929 (7%)13853 (13%)41138 (13%)
30-39 Yrs1324 (10%)15789 (14%)45141 (14%)
40-49 Yrs1983 (16%)16734 (15%)43049 (13%)
50-59 Yrs1367 (11%)14767 (13%)43250 (13%)
60-69 Yrs1462 (11%)10870 (10%)34446 (11%)
70+ Yrs2172 (17%)10841 (10%)34315 (11%)
Median HH Income$72,664$47,490$48,331
Total Household Income< 24K914 (17%)11438 (27%)30377 (26%)
25-49K957 (17%)10502 (25%)28305 (24%)
50-74K898 (16%)7238 (17%)19569 (17%)
75-99K569 (10%)4543 (10%)11250 (9%)
100-199K1119 (20%)5234 (12%)16201 (14%)
200K+900 (16%)2928 (6%)8164 (7%)
Highest Education LevelNo Diploma366988633659
Diploma or GED10901780651870
Some College16331385741411
Assoc. Degree884792821803
Bachelors Degree26181621644800
Higher Degree22601109729342
Total Housing Units9,02857,365159,113
--Owner-Occupied3,02215,96454,815
--Renter-Occupied2,33525,91959,052
Owner-Occupied Values< 100K5912035778
100-199K125354012587
200-299K401290410884
300-399K37118437073
400-499K39513054232
500K+1671517014260
Total Working Age Population9,69987,279254,438
In Work Force5,90158,459163,847
Not In Work Force3,79828,82090,591
Workforce Employed5,45654,470151,429
Workforce Unemployed3993,85612,243
Civlian Workforce5,85558,326163,672
Military Workforce46133175
Total Households5,35741,884113,866
Family Households3,08923,15467,049
Non-Family Households2,26818,73046,817
Married Couple2,30714,71643,525
Other Family7828,43823,524
Married w/Child9005,68016,512
Single Male w/Child1511,1172,596
Single Female w/Child4153,0907,799

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Florida15,982,378+1818,801,310+1421,517,610+1324,340,457
Miami-Dade County2,253,362+112,496,435+152,861,579+113,190,242

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Location & Directions
Listing Agent
Garrick Benabe Agent Photo

Garrick Benabe

Apex Capital Commercial
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