Miami Beach Land for Sale: Denbora Bay III Development Opportunity
An advanced multifamily development opportunity with an established development path and substantial architectural, technical and permitting work already completed
Located on an approximately 7,789 SF site in Miami Beach, Denbora Bay III contemplates a 10 unit residential development with four levels, approximately 9,732 SF of approved FAR/buildable area, approximately 15,636 SF of total building area, and 5 parking spaces
THE OPPORTUNITY
A DEVELOPMENT POSITION NOT JUST A LAND ACQUISITION
Denbora Bay III offers a qualified developer or investment group the opportunity to acquire a property with significant development work already completed.
The project combines:
Rather than beginning the development process from the ground up, a purchaser can continue an established development path with substantial work already completed.
WHAT HAS ALREADY BEEN ACCOMPLISHED
SUBSTANTIAL DEVELOPMENT WORK IS ALREADY IN PLACE
✓ Existing structure demolished
✓ Design Review Board approval under Case No. DRB23-0961
✓ Architectural plans substantially developed
✓ Building technical review completed
✓ Structural technical review completed
✓ Mechanical technical review completed
✓ Plumbing technical review completed
✓ Electrical technical review completed
✓ External City review cycle completed
✓ Responses to City comments in preparation
SUBSTANTIAL DEVELOPMENT WORK IS ALREADY IN PLACE
FINAL RESUBMITTAL PENDIN > MASTER PERMIT ISSUANCE PENDING
The project is being marketed as an advanced multifamily development opportunity, not as a fully permitted, construction-ready or shovel-ready project.
DEVELOPMENT PROGRAM
Approx. Lot SizeZoning
7,942 SF
RM-1
Residential Units10
4
LevelsParking Spaces
5
THE VALUE OF TIME
DEVELOPMENT PROGRESS HAS ALREADY CREATED VALUE
For a developer, time is an important component of project economics.
Denbora Bay III offers a development position where substantial planning, design, review and permitting work has already been undertaken.
The purchaser has the opportunity to continue from an established point in the development process rather than initiating the entire process from the beginning.
7,789 SF SITE
10-UNIT DEVELOPMENT PROGRAM
DRB APPROVAL
ARCHITECTURAL PROGRESS
TECHNICAL REVIEW
CITY REVIEW PROGRESS
ADVANCED PERMITTING PATH
THE ACQUISITION INCLUDES
DEVELOPMENT VISION
A CONTEMPORARY MULTIFAMILY RESIDENTIAL CONCEPT
The proposed development contemplates a contemporary four level multifamily residential project consisting of 10 residential units, with structured parking and shared amenity areas.
The project has progressed through the Design Review Board process and subsequent architectural and technical review.
MIAMI BEACH LOCATION
2125 BAY DRIVE
Situated along Bay Drive in Miami Beach, Denbora Bay III is located within the Normandy Isles / North Beach area, providing access to the residential, recreational and lifestyle amenities of Miami Beach.
The location benefits from proximity to Biscayne Bay, North Beach, neighborhood parks, dining, retail and the broader Miami Beach market.
The City of Miami Beach’s North Beach Loop provides local transit connections throughout the area, including stops along Bay Drive and Normandy Drive. (City of Miami Beach)
PRELIMINARY DEVELOPMENT ECONOMICS
A FRAMEWORK FOR INVESTOR DUE DILIGENCE
OFFERED AT: $2,575,000
PRELIMINARY ESTIMATED REMAINING DEVELOPMENT COST: $3.7M – $4.0M
INDICATIVE AVERAGE RENTAL ASSUMPTION: $4.50 / SF / MONTH
PRELIMINARY POTENTIAL GROSS RENTAL REVENUE: $43,794 / MONTH
APPROXIMATE ANNUAL GROSS RENTAL REVENUE: $525,528 / YEAR
The estimated remaining development cost is a preliminary order of magnitude estimate provided by Seller for informational purposes only. It is not a guaranteed construction cost, fixed budget, bid, contract price or Guaranteed Maximum Price (GMP).Rental assumptions are based on current market positioning and represent an indicative gross revenue benchmark only. They are not a projection of Net Operating Income (NOI), a guarantee of future rents or occupancy, or a representation of future investment performance.MARKET POSITIONING
AN ADVANCED DEVELOPMENT OPPORTUNITY IN MIAMI BEACH
Denbora Bay III occupies a position between a conventional multifamily land acquisition and a completed or fully permitted development project.
Its value proposition is supported by the combination of:
Underlying Land Value > Established Development Program > DRB Approval > Architectural & Technical Progress > Permitting Advancement > Potential Time & Execution Savings
The property is offered at $2,575,000, with the final acquisition decision subject to the purchaser’s independent underwriting and due diligence.
WHY DENBORA BAY III
Architectural, engineering and technical work has progressed significantly.
A defined multifamily development program has already been advanced through the City’s review process.
A proposed 10-unit, four level multifamily project on an approximately 7,789 SF site.
An established residential market with access to the broader Miami Beach and Miami metropolitan area.
A qualified purchaser can continue an established development process rather than starting from the beginning.
DUE DILIGENCE
IMPORTANT INFORMATION FOR PROSPECTIVE PURCHASERS
All development-related information presented in this offering, including but not limited to zoning, development rights, unit count, FAR, building area, plans, approvals, permit status, construction costs, estimated remaining development costs, rental assumptions, project timelines and other development information, is based on materials provided by Seller and/or Seller’s representatives and has not been independently verified by Broker.
Prospective purchasers should conduct their own independent due diligence and verify all material information with the City of Miami Beach and other applicable governmental authorities.
Legal Advisors
Architects
Engineers
Contractors
Environmental Consultants
Financial & Investment Advisors
Tax Advisors
Insurance Advisors
Lenders
Purchasers should consult their own:
DEVELOPMENT APPROVAL NOTICE
The City record reviewed reflects the Design Review Board approval under Case No. DRB23-0961.
Any extension, renewal, modification or continued validity of the DRB approval should be independently confirmed with the City of Miami Beach as part of purchaser due diligence.
The Master Permit remains pending and is subject to completion of responses to City comments, final resubmittal and issuance.
Inquire & Schedule Call
THE OPPORTUNITY
DENBORA BAY III
2125 BAY DRIVE
MIAMI BEACH, FLORIDA 33141
Advanced Multifamily Development Opportunity
10 Residential Units | 4 Levels | Approx. 15,636 SF Total Building Area
Disclaimer: Development information, plans, approvals, permits, specifications, costs, project status, and other project related information are based on materials provided by Seller and/or Seller’s representatives and have not been independently verified by Broker. Information is subject to change, and differences may exist between information published or provided and information ultimately verified through the applicable governmental authorities or the purchaser’s professional advisors. Prospective purchasers should conduct their own independent due diligence and independently verify all material information before entering into any agreementDENBORA BAY III
Boutique residential development project located at 2125 Bay Dr, Miami Beach, FL 33141. Represented exclusively by Lamarca & Co. Inc Broker Real Estate & Advisory.
Site Address
2125 Bay Dr,
Miami Beach, FL 33141
Normandy Isles Corridor
Advisory Contact
info@lamarcaandco.com
+1 (305) 781-7034