2 Beds
1 Bath
849 SqFt
2 Beds
1 Bath
849 SqFt
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 849 sqft
Price per Sqft $823
Subdivision Palomar Sub
MLS Listing ID A11942536
Style Detached,One Story
Bedrooms 2
Full Baths 1
HOA Y/N No
Year Built 1950
Annual Tax Amount $8,552
Tax Year 2025
Lot Size 7,800 Sqft
Property Sub-Type Single Family Residence
Property Description
This is a high-upside, infill development opportunity in a prime Biscayne corridor location. The 7,800 SF R5-zoned lothas received city confirmation allowing 3–7 residential units and qualifies for the Floating Density Factor, creating significant flexibility and upside. City correspondence confirming potential unit count is available upon request.
Offers under $650,000 will not be reviewed by the seller. This is a R-5 and conditional for 7 units. Seller will not review lower offers.
Thank you!!
An existing single-family residence sits on the property, offering a strategic advantage: the ability to secure conventional financing and deploy capital toward redevelopment—a major win in today's lending environment.
Opportunities like this do not last. R5 lots with documented density potential are extremely limited.
VALUE-ADD & EXPANSION POTENTIAL
• Adjacent parcel may be available, allowing assemblage and expansion to up to 14 units.
• Proven development success across the street, where an investor has completed 18 units, validating density and market demand.
• Strong rental demand fueled by proximity to Biscayne Park, Biscayne Blvd, restaurants, retail, and nightlife, all within walking distance.
This is an ideal play for developers, builders, and long-term investors seeking density, location, and scalable upside in a supply-constrained market.
Location
State FL
County Miami-dade
Community Palomar Sub
Area 22
Direction From Biscayne Blvd (US-1) go west on NE 123rd St. Turn right (north) on NE 12th Ave, then right on NE 121st St. Turn left on NE 11th Pl. Property will be on the right.
Interior
Interior Features Bedroom on Main Level, First Floor Entry
Heating Central, Electric
Cooling Central Air
Flooring Hardwood, Wood
Appliance Dryer, Electric Range, Disposal, Microwave, Refrigerator
Exterior
Exterior Feature Deck
Pool None
View Y/N No
View None
Roof Type Built-Up
Porch Deck
Garage No
Private Pool No
Building
Lot Description 1/4 to 1/2 Acre Lot
Faces South
Story 1
Sewer Public Sewer
Water Public
Architectural Style Detached, One Story
Structure Type Block
Schools
Middle Schools North Miami
Others
Senior Community No
Restrictions OK To Lease
Tax ID 06-22-29-031-0630
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Listed As-Is
Virtual Tour https://www.propertypanorama.com/instaview/mia/A11942536
Nearby Locations
- 10
Ruth K. Broad/Bay Harbor K-8 Center
Public | PK - 5
- 6
Arcola Lake Elementary School
Public | PK - 5
- 6
Phyllis R. Miller Elementary School
Public | PK - 5
- 6
Natural Bridge Elementary School
Public | PK - 5
- 6
Biscayne Gardens Elementary School
Public | PK - 5
- 6
David Lawrence Jr. K-8 Center
Public | PK - 5
- 6
Oak Grove Elementary School
Public | PK - 5
- 6
Fulford Elementary School
Public | PK - 5
- 5
Jesse J. McCrary, Jr. Elementary School
Public | PK - 5
- 5
Treasure Island Elementary School
Public | PK - 5
- 5
Miami Shores Elementary School
Public | PK - 5
- 5
Lakeview Elementary School
Public | PK - 5
- 5
Arch Creek Elementary School
Public | PK - 5
- 5
North Miami Elementary School
Public | PK - 5
- 4
Van E. Blanton Elementary School
Public | PK - 5
- 4
Gratigny Elementary School
Public | PK - 5
- 4
W. J. Bryan Elementary School
Public | PK - 5
- 2
Hubert O. Sibley K-8 Center
Public | PK - 5
- 1
Benjamin Franklin K-8 Center
Public | PK - 5
- 1
Linda Lentin K-8 Center
Public | PK - 5
- 8
Doctors Charter School of Miami Shores
Public | 6 - 12
- 5
John F. Kennedy Middle School
Public | 6 - 8
- 4
Horace Mann Middle School
Public | 6 - 8
- 4
Thomas Jefferson Middle School
Public | 6 - 8
- 3
North Miami Middle School
Public | 6 - 8
- 2
Aspira Raul Arnaldo Martinez Charter School
Public | 6 - 8
- 0
Amikids Miami-Dade North
Public | 6 - 12
- 0
Beth Jacob High School
Private | 6 - 12
- 0
Sha'Arei Bina Torah Academy for Girls
Private | 6 - 12
- 0
Allison Academy
Private | 6 - 12
- 6
Alonzo and Tracy Mourning Senior High School Biscayne Bay Campus
Public | 9 - 12
- 3
North Miami Senior High School
Public | 9 - 12
- 2
North Miami Beach Senior High School
Public | 9 - 12
- 0
Academy for Community Education (Ace)
Public | 9 - 12
- 0
Keystone National High School
Private | 9 - 12
- 0
American Worldwide Academy
Private | 9 - 12
- 0
Mast@Fiu
Public | 9 - 12
- 0
Mavericks High of North Miami Dade County
Public | 9 - 12
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