Commercial Property for Sale in Miami Florida 33147

Strategic Hard Corner Development: NW 79th Street & NW 22nd Avenue

A Multi-Phased Investment Opportunity in Miami’s Urban Core

One Sotheby’s International Realty is pleased to present a premier development opportunity situated at the high-traffic intersection of NW 79th Street and NW 22nd Avenue. This expansive 32,000 square-foot corner lot represents one of the most versatile "clean slate" sites currently available in the Miami urban core.

Boasting a rare combination of immediate "by-right" development potential and significant federal tax incentives, this property is uniquely positioned for investors looking to capitalize on Miami’s northward expansion.

The "Triple-Threat" Development Potential

This site is exceptional because it offers three distinct pathways to profitability, catering to different investor appetites and market demands:

1. Modern High-Volume Retail & Car Wash Center

The property is currently fully entitled and approved for a state-of-the-art car wash facility. This makes it an "oven-ready" project for an owner-operator or an investor seeking to meet the high consumer demand in this growing corridor.

• Flexible Design: The site layout is engineered to accommodate either a full-service or express-style car wash.

• Operational Efficiency: Ample space allows for multiple bays, high-capacity vacuum stations, and optimized traffic circulation to ensure maximum customer convenience and turnover.

• Approval Status: Being already entitled for retail and car wash use significantly reduces the traditional "holding period" risk, allowing for an expedited construction timeline.

2. High-Density Multifamily (The "By-Right" Play)

For the large-scale developer, the site offers massive "by-right" density. Under current urban core standards, the property can support a high-density residential project of up to 336 units, making it a landmark-scale multifamily opportunity.

3. The "Option 3" Architectural Concept (Mixed-Use)

A specific, highly efficient architectural path has already been identified under the MCS Zoning District mandates. This vision includes:

• Verticality: A 12-story high-rise profile.

• Unit Mix: A total of 121 residential units strategically distributed as 77 one-bedrooms, 36 two-bedrooms, and 8 three-bedrooms.

• Amenities: A 5th-level amenity deck featuring an indoor/outdoor pool area.

• Infrastructure: An integrated pedestal parking garage providing 198 parking spaces.

• Ground Floor: Essential commercial/retail space to activate the street level and serve the building's residents.

Unparalleled Tax & Investment Incentives

This property sits at the intersection of several high-value economic zones, providing a developer with a "safety net" of financial incentives:

• Opportunity Zone (OZ) Qualified: Investors can potentially defer or eliminate capital gains taxes, a massive driver for long-term wealth preservation.

• Empowerment Zone (EZ) Qualified: Additional federal tax credits and incentives are available for businesses that operate within the zone and employ local residents.

• Prime Transit Corridor: The intersection of 79th St and 22nd Ave is a high-visibility, high-traffic hub, ensuring a constant stream of eyes on any retail or residential project built here.

Site Summary & Highlights