A development site with existing income
PROPERTY DETAILS
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.
Property Details
| Address: | 49 NW 5th Street/ 50 NW 6th Street, Miami, FL 33128 |
| Building Size: | 47,398 SF |
| Lot Size: | 37,857 SF |
| Zoning: | T6-60a O |
| Folio(s): | 01-0106-040-1140 01-0106-040-1080 |
Development Summary
| FLR Allowable (FLR=11xLot): | 416,427 SF |
| Buildable w/ Bonus: | 624,641 SF |
| Units Allowed: | 435 |
| Building Height: | 60 Stories |
| Building Height w/ Bonus: | Unlimited per FAA approval |
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