18th St. & Michigan Ave.

Stabilized rentals, decade-long quarterly yield

Palm View 4 contiguous lots, 37,183 sqft with approved plans for 4 single-family homes.

Entitlement strategy on four contiguous vacant lots totaling 37,183 square feet at the corner of 18th Street and Michigan Avenue in Miami Beach, Florida, within Palm View and two blocks from Lincoln Road. The lots carry approved plans for four single-family homes, which materially advances the entitlement position relative to parcels requiring full design review and permitting before disposition. The strategy underwrites a short-hold play in which the entitled position is refined where advantageous and then disposed of to a vertical developer or a builder-investor, rather than taking on the full construction cycle internally. The Palm View location, two blocks from Lincoln Road, supports a developer buyer pool that prices the entitled position at a premium to raw land with equivalent zoning. Hold duration is expected to span final diligence on the approved plans, any optimization work within the entitlement envelope, and a marketing window to the vertical developer segment. Asking basis of 8.99 million dollars reflects the combined lot area, the approved plans for four homes, and the Palm View / Lincoln Road proximity. Capital deployment covers diligence on the approved plans, any permit renewals or extensions as required, carry, and marketing costs to reach the vertical developer audience. Returns are targeted from the spread between entry basis and the price at which the entitled position clears to a builder-investor, without taking vertical construction risk.

Address

18th St. & Michigan Ave.

City

Miami Beach, FL

ZIP

33139

Beds

—

Baths

—

Living sqft

—

Lot sqft

37,183

Year built

—

Waterfront

NONE

Buy-and-hold economics model using asset basis, target capitalization, maturity, and downside/upside valuation scenarios. Detailed sponsor line items are shown when a full proforma is available.

Source: strategy economics model · figures are forward-looking estimates · not a guarantee of return