Fraca Residences

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Address: 7900 NW 21st Ave, Miami, Florida, US
Created date: December 1, 2023
Date last updated: December 1, 2023
  • Site Currently Undergoing Approval Process
  • 26 Units With 12.5% (4 Units) Set Aside For WHUs
  • 2 Retail Spaces Totaling 1,286 sq ft
  • Easy Access to Metrorail & Metrobus Hubs
  • 9,450 sq ft (.21 Acre) Lot With NCUAD Zoning
  • Workforce Housing Density Bonus (25%)
  • 100% Parking Reduction For Parcels Less Than 15,000 sq ft

Property Description

Franklin Street has been retained on an exclusive basis to market for the sale of “Fraca Residences” or 7900 NW 21st Ave, Miami, FL 33467 (“The Property” or “The Site") a mixed-use development site in Miami, FL. The site is situated on 9,450 sq ft of land (0.21 acres) with NCUAD (North Central Urban Area District) zoning. The site represents an opportunity to purchase a mixed-use development site with plans currently under the approval process. The site has been submitted for approval with 26 units and 12.5% (4 units) set aside for Workforce Housing Units (WHUs) as defined in Section 33-284.83(A)(3) of the Miami-Dade County Code to receive a 25% Density Bonus. The Site is undergoing approved for 2 retail spaces (1,286 sq ft total) on the ground floor and will provide 9 parking spaces, 4 of which will be for EVs. There is a 100% parking reduction for parcels less than 15,000 SF. Fraca Residences is ideally positioned to capitalize on the expansion of successful developments nearby. The site is located near the Northside Metrorail Stop (3150 NW 79th Street, Miami, FL) which provides tenants a short commute to Downtown Miami, as well as connectivity to South Florida in its entirety. The Site is within one-quarter mile of a bus stop. Driving to downtown Miami from the site is approximately 15 minutes or 8 miles.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Multifamily type: Land/Development
Price: $1,100,000
No. of Units: 26
Lot Size: 9,450.00 Sq ft
Opportunity Zone: No
Price per unit: $42,308
Address: 7900 NW 21st Ave, Miami, Florida, US

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