Prime Development Opportunity in Miami. Off Market T3--O. Zip code 33127
Full detailsShow less
Contact Noah Otalvaro (786) 284-6543 This property is currently a 2/1 SFH on a Multi Zone: T3O / Opportunity Zone 1,559 SQFT 1,90 ADJ 1,120 Under Air Currently a large 2/1 on a 5,000 sqft lot / no major trees Home can easily be converted into a 3/2 Best use: rent and generate income while pending approval for permits and plans to build twin homes. -4,000 sqft for a 5,000 sqft lot. -50% & 30% FAR for 2 stories added together See Additional Info Below Regarding Magic City: Miami Design District, Edgewater, Wynwood's vibrant art scene, Miami International Airport, and premier Opportunity Zone Development Play — T3-O Zoning, Immediate Cash Flow, Built-In Upside Positioned in one of Miami's fastest-growing corridors — one block from the Cultural Arts Center and directly adjacent to the multi-billion-dollar Magic City Innovation District — this property offers a rare combination of Opportunity Zone tax advantages and near-term development flexibility under T3-O zoning, which permits construction of two twin homes on the site. Development Highlights T3-O Zoning — supports a twin-home build-out, allowing a developer to add a second dwelling unit while preserving or replacing the existing structure, maximizing density and unit count on a single parcel Opportunity Zone location — potential for capital gains deferral and exclusion benefits under OZ 2.0 rules for qualifying investments, subject to holding period and QOF structuring requirements No Flood Zone — reduces insurance costs and de-risks long-term construction and holding strategy Interim income strategy — the current home can be rented and generate cash flow while entitlements, permitting, and construction planning move forward, offsetting carrying costs during the pre-development phase Strategic infill location — one block from the Cultural Arts Center, adjacent to the transformative Magic City Innovation District, and minutes from Design District, Wynwood, Midtown, and Little River — placing future twin-home product in a high-demand rental and resale corridor Connectivity — immediate access to all major highways and A1A, with South Beach and the coastline minutes away Investment Thesis This is a build-and-hold or build-to-sell opportunity in a neighborhood experiencing significant capital inflow via the Magic City Innovation District. The T3-O designation allows a developer to add density (twin homes) without waiting on a rezoning process, while the existing structure generates rental income during pre-construction — reducing basis exposure and improving overall project IRR. Combined with potential OZ tax deferral/exclusion benefits, this offers a compelling risk-adjusted entry point into one of Miami's most active emerging submarkets. Note: Buyers/investors should confirm current T3-O setback, unit count, and lot coverage requirements with Miami 21 code and verify OZ eligibility/QOF structuring with their tax advisor, as OZ 2.0 rules and deferral deadlines are time-sensitive.