Southwest 174th Terrace

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Address: SW 174th Terrace, West Perrine, FL 33157, USA
Florida & Gulf Coast + Land/Development
Created date: November 10, 2026
Date last updated: November 10, 2026
Price: $595,000Investment Analyzer NEW!
  • - Shovel-ready plans
  • - Central air
  • - Every unit has spacious open layout with kitchen
  • - Master bedrooms have walk-in closets and many units have water
  • - Spacious floor plans of tile flooring throughout
  • - Washer/dryer hook-ups in select units

Property Description

MSP Group, LLC is pleased to exclusively offer for sale at $595,000 the Micali Apartments, a rare, truly shovel-ready 8-unit multifamily development opportunity located in West Perrine, Miami-Dade County, Florida. Situated on a spacious 20,625 SF lot, the property comes with a complete set of approved construction plans, with only the payment of applicable impact fees and permit fees remaining before construction can commence. This represents one of the few genuinely shovel-ready multifamily opportunities available, allowing a developer to bypass the lengthy and costly entitlement and approval process and move directly toward construction. The thoughtfully designed project consists of 8 spacious residential units, featuring an attractive mix of four 3-bedroom/2-bathroom units measuring 1,032 SF each and four 4-bedroom/2-bathroom units measuring 1,137 SF each. The development was specifically designed with construction costs and long-term operating efficiency in mind, featuring a simple two-story, all-walk-up design with no elevators and 100% asphalt surface parking, providing two dedicated parking spaces per unit. From an investment standpoint, the project offers compelling economics, with a projected stabilized capitalization rate of approximately 7.70% upon completion. This projection is based on current estimated market rents of $2,950 per month for the 3-bedroom units and $3,250 per month for the 4-bedroom units, with rents grown at a conservative 3% annually to account for the anticipated construction and lease-up timeline. The Micali Apartments offer developers a unique combination of immediate construction readiness, cost-efficient building design, desirable family-sized floor plans, and attractive projected investment returns. With the extensive predevelopment work already completed, this is an exceptional opportunity to bring a new multifamily asset to market while minimizing entitlement risk, development delays, and upfront soft costs.
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Broker Details

Sam Mekras
Sam Mekras

MSP Group 786-671-0154

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Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Land/Development
Price: $595,000
No. of Units: 8
Lot Size: 0.47 Acres
Opportunity Zone: No
Price per unit: $74,375
Property Website Click Here
Address: Southwest 174th Terrace, Miami, FL 33157, USA
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