Marcus & Millichap Real Estate Investment Services has received the exclusive listing for a 44,572 square foot block of land and a 31,294 square foot marina with 36 slips fronting the Miami River in Miami.
The impressive development opportunity is priced at $7 million.
Ryan Shaw and Scott Sandelin, Senior Associates in Marcus & Millichap’s Miami office, are representing the seller, a limited liability company from Miami.
The investment opportunity consists of multiple land parcels and marina totaling approximately 75,866 square feet along the Miami River. The property is separated by NW 22nd Avenue with the residential development on the west side and the marina to the east. The land allows for up to 362,000 buildable square feet under Miami21 zoning of T6-8-O which should fit a minimum of 105 units over eight floors.
“This is an excellent opportunity for a developer to acquire a site on the Miami River with an adjacent marina. The Miami River and its surrounding neighborhoods have become magnets for all kinds of energy and activity over the last couple of years. Private sector developments along the Miami River are at an all-time high. The addition of new restaurants, retail, and apartments further west on the river make this an excellent opportunity to capture the future of what the Miami River has to offer,” says Shaw.
The land parcels are located at 2190 NW North River Drive in Miami.