Commercial Real Estate Property For Sale In Miami

139 1st St Miami, FL 33132
 Directions

$20,000,000

  • 1927 Year Built
  • Oct 27, 2024 Listing Date

MLS #

:

A11683861

Price

:

$20,000,000

Status

:

Listing Date

:

Oct 27, 2024

Square Footage

:

Not Available

County

:

Miami-Dade County

Square Footage

:

Not Available

Year Built

:

1927

Taxes

:

$90,162 Per Year

Waterfront

:

No

Virtual Tour

:

click here to view virtual tour

 

Remarks

:

Compass Commercial presents the Historic "Dade-Commonwealth Building," an existing 43,265sf office building with rare in-place approvals from the Historic Preservation Board and City of Miami for a 17-story, 163-room upscale hotel. Alternatively, the existing structure can be repositioned to a 60-key hotel. Sale includes approved demolition permits + Master permits, which are in the final stages, allowing for quick project initiation. Due to its historic designation, the property is entitled to an Ad Valorem Exemption and the Federal Historic Rehabilitation Tax Credit. Great opportunity to develop a luxury hotel in Downtown Miami that's fast-tracked with approved plans, demo permits + tax credits.

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