A development site with existing income
Colliers International Urban Core Division is pleased to offer the opportunity to acquire the Citadel: a +/- 38,000 SF, core trophy development site positioned directly east to the entrance of MiamiCentral Station. Citadel is a true covered land play with an existing office structure producing over $1.8M in Net Operating Income annually.
The site’s current zoning allows developers the ability to construct up to 60 stories of residential, office, hotel, retail and general commercial uses – while being surrounded by over $4B in planned development from Miami World Center.
Altogether, this offering presents a rare opportunity to acquire a cash flowing trophy site while positioning the property for future ground-up development.
|Address:||49 NW 5th Street/ 50 NW 6th Street, Miami, FL 33128|
|Building Size:||47,398 SF|
|Lot Size:||37,857 SF|
|FLR Allowable (FLR=11xLot):||416,427 SF|
|Buildable w/ Bonus:||624,641 SF|
|Building Height:||60 Stories|
|Building Height w/ Bonus:||Unlimited per FAA approval|