Listing Summary
Opportunity to purchase the Hard Corner of NW 79th Street and NW 22nd Ave for Retail or MF uses.
Full Description
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.
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Flexible Design: The site layout is engineered to accommodate either a full-service or express-style car wash.
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Operational Efficiency: Ample space allows for multiple bays, high-capacity vacuum stations, and optimized traffic circulation to ensure maximum customer convenience and turnover.
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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:
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Verticality: A 12-story high-rise profile.
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Unit Mix: A total of 121 residential units strategically distributed as 77 one-bedrooms, 36 two-bedrooms, and 8 three-bedrooms.
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Amenities: A 5th-level amenity deck featuring an indoor/outdoor pool area.
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Infrastructure: An integrated pedestal parking garage providing 198 parking spaces.
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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:
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Opportunity Zone (OZ) Qualified: Investors can potentially defer or eliminate capital gains taxes, a massive driver for long-term wealth preservation.
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Empowerment Zone (EZ) Qualified: Additional federal tax credits and incentives are available for businesses that operate within the zone and employ local residents.
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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
| Feature |
Detail |
| Total Land Area |
32,000 SF |
| Zoning District |
MCS (Mixed-Use Corridor District) |
| Entitlement Status |
Approved for Retail / Car Wash / Multifamily |
| Max Residential Height |
12 Stories (Option 3) |
| Incentive Eligibility |
Opportunity Zone & Empowerment Zone |
| Location Profile |
Hard Corner / High Visibility / High Traffic |
Quick Glance
- Listing ID:
CL-Florida-26331
- Status:
Active
- Year Build:
N/A
- Building Size:
N/A
- Lot Size:
1 Acr