La Primera Development Site

For sale


Property ID


Development Site Plan Approved mixed-use 45-unit life-style dev for short-or long-term rentals & 4,330 SF of retail.

Seller may submit the by-right plan change to increase to 50 units or 75 units & liquor-license, if negotiated.

20,000 SF of residential at $5/SF is $1.2 mm in gross rents based on yearly rentals. At $40/SF NNN, the retail generates $173,000 in NOI. Project valued at $21 mm when leased up.

Hot Little Havana Dev on SW 1st & 9th Ave, near Downtown & Calle Ocho. Central to Brickell, Gables, Grove & Hospital District/Wynwood.

Purchase Options: Close now w/ the Site Plan & 100% parking reduction approved for the 45-units + retail as-is; OR Close post permit approval & w/ proof of submission for plan change to 50 or 75 units; then Seller may complete the administrative change post-closing.

Showing Instructions:
Call Listing Agent,See Broker Remarks,Sign On Property


  • Pre development for 45, 50 or 75 units | Long or Short Term Rental or Hotel
  • Site plan approved for 45 units but may be changed after permit approvals
  • Over 30% project IRR for investors/developers
  • Potential to master lease the entire residential units of 20,000 SF
  • Court-yard patio designed retail of 4,330 SF at $40/SF NNN is over $3 mm in value
  • Potential Rents at $1.2 mm with when a master lease is secured on residential units.

For More Development Opportunities Options


Address: 861 SW 1st St, Miami, FL
  • Country: United States
  • Province / State: Florida
  • City / Town: Miami
Open on Google Maps
  • Property ID 7768
  • Price $4,990,000
  • Property Type Development opportunities
  • Property status For sale
  • Average Room Size 432 sqft
  • Floors 4
  • Construction Status Pre Construction


Zena Bardawell Farah

Property Agent
+1 305-967-7200
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