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Development Site at 11920 Northwest 27th Avenue in Miami

Development Site at 11920 Northwest 27th Avenue in Miami
FOR SALE
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$9,750,000

11920 Northwest 27th Avenue, Miami, FL 33167

Property Description

LA PREMIERE Realty proudly presents North Central, a prime free-standing building with a drive-thru on a 60,168 SF lot and ±14,040 SF building. Zoned UC-MM | Core, the property offers exceptional mixed-use development potential, allowing 125 units per acre, 15 stories, 325 +/- units as of right, 3–4 floors of parking (no underground required), and commercial retail on the ground floor. The current price per door is approximately $30,000, with significant incentives available under SB-102, reducing the price per door to about $19,500 and allowing an estimated 500 ± units with applicable bonuses. Property highlights include: Clean Phase I Environmental by Dynatech Engineering | Survey less than 3 years old | Completed 40-Year Certification | Brand-new 2024 AC system with warranty |New electrical system |Certified sprinkler systems |76 parking spaces This is a rare, well-positioned development opportunity offering scale, flexibility, and strong long-term value. The property sits at the high-traffic corner of NW 27th Ave and NW 119th St in a dense residential and commercial corridor near major retailers like Marathon, Dollar Tree, Taco Bell, and McDonald's. Nearby amenities include Miami-Dade College North Campus, North Shore Medical Center, Deep End Fitness, and Miami-Opa Locka Executive Airport, with quick access to I-95, FL-924, and the Turnpike. Opa-Locka offers rich Moorish Revival architecture, an active airport, and ongoing CRA-driven redevelopment.


Property Details

Asset Type

Development Site

Zoning

UC CORE - MAIN STREET (MM) 12 MAX HT

Lot Size

60,168 SF

Neighborhood

Opa-locka North

Submarket

Miami

ZIP

33167

Listing Type

sale

Net Operating Income (NOI)

$0

Debt Service Coverage Ratio (DSCR)

0.00x

Cap Rate

0.00%

Cash Flow (Annual)

-$554,640

Cash-on-Cash Return

-22.75%

Monthly Debt Service

$46,220

Annual Debt Service

$554,640

View on Map

Address

11920 Northwest 27th Avenue

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Miami Development Site Market Snapshot

Boundary boundary · Development Site · Sale

No investors found in this market.

Contact the Listing Team

Mauricio Fernandez Piqueras

Mauricio Fernandez Piqueras

Founder & Principal Broker

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Mauricio Fernandez Piqueras

Mauricio Fernandez Piqueras

Founder & Principal Broker

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Call