,Miami North for Sale

for Sale

Price $20,000,000.00

• Lot size 7500
• Year Build
• Waterfront
• Zip 33132
• Style
• Parking Description
• Pool Yes
• Status Active

Description

Compass Commercial presents a Hotel redevelopment opportunity in the heart of Downtown Miami with rare in-place approvals from the Historic Preservation Board and City of Miami. Approved for a 17-story, 163-room upscale hotel with approved demolition permits (except facade on the first three stories) in place. Master permits in final stages allowing for quick project initiation. The property is entitled to an Ad Valorem Exemption and also the Federal Historic Rehabilitation Tax Credit due to it's historic designation. Great opportunity to develop a luxury hotel in Downtown Miami that's fast-tracked with approved plans + tax credits.

Additionally, the property qualifies for the Federal Historic Rehabilitation Tax Credit, offering a 20% tax credit on direct and indirect renovation costs. Don?t miss out on this rare chance to develop a luxury hotel with significant tax incentives and fast-tracked demo permits in place. The historic designation of the Dade-Commonwealth Building provides significant tax incentives for developers, including a 10-year Ad Valorem Tax Exemption covering 100% of the assessed value of qualified improvements.

MIAMI NORTH PB B-41 E1/2 OF LOT 15 & W1/2 OF LOT 16 BLK 104 LOT SIZE 50.000 X 150 OR 21131-3691 0303 1

City Location, Less Than 1 Acre

Compass Commercial presents a Hotel redevelopment opportunity in the heart of Downtown Miami with rare in-place approvals from the Historic Preservation Board and City of Miami. Approved for a 17-story, 163-room upscale hotel with approved demolition permits (except facade on the first three stories) in place. Master permits in final stages allowing for quick project initiation. The property is entitled to an Ad Valorem Exemption and also the Federal Historic Rehabilitation Tax Credit due to it's historic designation. Great opportunity to develop a luxury hotel in Downtown Miami that's fast-tracked with approved plans + tax credits.

City:Miami,Zoning:6401,List A O R:A-Miami Association of REALTORS,Tax Year:2024,Latitude:25.7755498,List Price:20000000,Listing Id:A11672529,Longitude:-80.1911244,Mls Status:Active,Utilities:1:None,Postal Code:33132,Coordinates:1:25.7755498,Lot Features:1:Less Than 1 Acre,Photos Count:25,Building Name:MIAMI NORTH,Days On Market:11,Lot Size Acres:0.16,Lot Size Units:Square Feet,M I A M I R E_ Area:41,M L S Area Major:Miami North,On Market Date:2024-09-27,Parcel Number:01-01-10-040-1100,Property Type:Commercial Land,Public Remarks:Compass Commercial presents a Hotel redevelopment opportunity in the heart of Downtown Miami with rare in-place approvals from the Historic Preservation Board and City of Miami. Approved for a 17-story, 163-room upscale hotel with approved demolition permits (except facade on the first three stories) in place. Master permits in final stages allowing for quick project initiation. The property is entitled to an Ad Valorem Exemption and also the Federal Historic Rehabilitation Tax Credit due to it's historic designation. Great opportunity to develop a luxury hotel in Downtown Miami that's fast-tracked with approved plans + tax credits.,County Or Parish:Miami-Dade County,Frontage Length:50,List Office Name:Compass Florida, LLC,Private Remarks:Additionally, the property qualifies for the Federal Historic Rehabilitation Tax Credit, offering a 20% tax credit on direct and indirect renovation costs. Don?t miss out on this rare chance to develop a luxury hotel with significant tax incentives and fast-tracked demo permits in place. The historic designation of the Dade-Commonwealth Building provides significant tax incentives for developers, including a 10-year Ad Valorem Tax Exemption covering 100% of the assessed value of qualified improvements.,Standard Status:Active,Living Area Units:Square Feet,Major Change Type:New,Postal Code Plus4:2527,State Or Province:FL,Subdivision Name:MIAMI NORTH,Tax Annual Amount:90162,Unparsed Address:139 NE 1st St, Miami FL 33132,Listing Agreement:Exclusive Right To Sell,Building Area Units:Square Feet,Lot Size Dimensions:50x150,Lot Size Square Feet:7500,M I A M I R E_ L P Amt Sq Ft:2666.6667,Original List Price:20000000,Public Survey Range:3,I D X Participation Y N:1,Syndication Remarks:Compass Commercial presents a Hotel redevelopment opportunity in the heart of Downtown Miami with rare in-place approvals from the Historic Preservation Board and City of Miami. Approved for a 17-story, 163-room upscale hotel with approved demolition permits (except facade on the first three stories) in place. Master permits in final stages allowing for quick project initiation. The property is entitled to an Ad Valorem Exemption and also the Federal Historic Rehabilitation Tax Credit due to it's historic designation. Great opportunity to develop a luxury hotel in Downtown Miami that's fast-tracked with approved plans + tax credits.,Listing Contract Date:2024-09-27,Originating System I D:miamire,Public Survey Section:10,Showing Instructions:Call Listing Agent,Street Number Numeric:139,Tax Legal Description:MIAMI NORTH PB B-41 E1/2 OF LOT 15 & W1/2 OF LOT 16 BLK 104 LOT SIZE 50.000 X 150 OR 21131-3691 0303 1,Public Survey Township:3,Originating System Name:Miami Association of REALTORS?,M I A M I R E_ Internet Remarks:Compass Commercial presents the historic Dade-Commonwealth Building, a Hotel redevelopment opportunity in the heart of Downtown Miami.,Contract Status Change Date:2024-09-27,Internet Consumer Comment Y N:1,M I A M I R E_ Ok To Advertise List:With Written Broker Approval,Internet Entire Listing Display Y N:1,Internet Automated Valuation Display Y N:1,