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Land in Miami Beach, FL 33139Lincoln, 1553 Jefferson Ave
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Closed
0.17
AcreStatus
Sold - Jan 14, 2021
Size
0.17 Acres (697 m2)
Price
$5,882,353/Acre ($1,435/m2)
Type
Land
MLS Number
A10893764
On Site
2252 Days
Updated
18 Days ago
Page Views
0
1553 Jefferson presents a unique opportunity for the builder or investor. The 7500 SF site contains a Fourplex and a Detached Single Family Home steps from Lincoln Road. Potential upside includes;
Significant Vacant Land;
Zoning allows a buildout of 9375 SF. Although the 3,300 SF Fourplex is designated historic, the House at rear is undesignated and can be demo'd or added to for a total additional 6,200 SF of new construction.
Unit Mix;
All Fourplex units are ~800 SF. Two have been converted into 2BR units significantly increasing rents & desirability. 2BR rental units are increasingly difficult to find in this area and command a premium price. under
Market Rents;
Rents are currently 25% below market. All MTM. See attached OM for various development scenarios & pro formas.
Features
All features
- Current Use: Commercial, Unimproved
- Property SqFt: 7500
- Remarks: 1553 Jefferson presents a unique opportunity for the builder or investor. The 7500 SF site contains a Fourplex and a Detached Single Family Home steps from Lincoln Road. Potential upside includes; Significant Vacant Land; Zoning allows a buildout of 9375 SF. Although the 3, 300 SF Fourplex is designated historic, the House at rear is undesignated and can be demo'd or added to for a total additional 6, 200 SF of new construction. Unit Mix; All Fourplex units are ~800 SF. Two have been converted into 2BR units significantly increasing rents & desirability. 2BR rental units are increasingly difficult to find in this area and command a premium price. under Market Rents; Rents are currently 25% below market. All MTM. See attached OM for various development scenarios & pro formas.
- Internet Remarks: 1553 Jefferson presents a unique opportunity for the builder or investor. The 7500 SF site contains a Fourplex and a Detached Single Family Home steps from Lincoln Road. Potential upside includes; Significant Vacant Land; Zoning allows a buildout of 9375 SF. Although the 3, 300 SF Fourplex is designated historic, the House at rear is undesignated and can be demo'd or added to for a total additional 6, 200 SF of new construction. Unit Mix; All Fourplex units are ~800 SF. Two have been converted into 2BR units significantly increasing rents & desirability. 2BR rental units are increasingly difficult to find in this area and command a premium price. under Market Rents; Rents are currently 25% below market. All MTM. See attached OM for various development scenarios & pro formas.
- Waterfront: No info
- Days on Market: 129
- Closing Date: 2021-01-14
- Office Name: The Keyes Company
- Area: 7500
- Taxes: 21386
- Tax Year: 2019
- Listing Date: 2020-07-16T12:55:00.000-00:00
- Lot Size Square Feet: 7500
Apples-to-Apples Comparables
Price History
Current
$1M
High
$1.3M
Low
$1M
Total Change
-23%Date
Event
Price
Change
Price Per
09/21/2020
Sold
$1M
0%$133 ft2
$1,435 m2
01/13/2021
Price Reduced
$1M
-23.02%$133 ft2
$1,435 m2
09/21/2020
Listed
$1.3M
$173 ft2
$1,864 m2
09/21/2020
$1M
Event
Sold
Change
0%Price Per
$133 ft2
$1,435 m2
01/13/2021
$1M
Event
Price Reduced
Change
-23.02%Price Per
$133 ft2
$1,435 m2
09/21/2020
$1.3M
Event
Listed
Price Per
$173 ft2
$1,864 m2
Price per square foot and days on website are not provided values and are calculated by Subdivisions.
Listed by Neal Deputy • The Keyes Company • Buyer Agency Compensation .
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Scores
96
100
57
100
82
100
78
100
0
100
27
100
3
100
Community Snapshot
$2.7M – $4.3M
Price Tier
435 - 10,334
SqFt Range
1938
Year Build
2
Total Floors
174
Total Units
Subdivision Amenities
Controlled Access
Laundry
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