Palmetto Bay Development Site

Palmetto Bay Development Opportunity

Addresses:                        

18330 SW 97th Ave, Palmetto Bay

18320 SW 97th Ave, Palmetto Bay

9700 SW 183rd St, Palmetto Bay

9720 SW 183rd St, Palmetto Bay

Blanca Commercial Real Estate, Inc. is pleased to be appointed as the exclusive agent for the sale of the Palmetto Bay Development Site. Situated on the hard corner of Eureka Drive and SW 97th Avenue, this +/- 41,253 SF site offers an ideal development opportunity in the heart of Palmetto Bay

Strategically located within the Eureka Sector of the Downtown Palmetto Bay District, the site’s flexible zoning permits a myriad of potential applications to a developer. Despite being a perfect candidate for a multifamily project, the site was originally slated as a state-of-the-art medical office complex given its proximity to multiple medical facilities. Its position within a vibrant, growing community known for excellent schools, abundant retail, and key employment centers further amplifies its appeal. This makes the site an outstanding opportunity for those looking to capitalize on the advantageous location and dynamic potential of Palmetto Bay.

Alongside the wide variety of potential uses available on the site and the remarkable submarket that surrounds it, the advantages of the Palmetto Bay Development Opportunity continue. Eureka Drive, Franjo Road, and SW 183rd Street all reach the subject property, boosting the accessibility and convenience for any project. Lastly, the site lies within a Qualified Opportunity Zone, offering substantial tax incentives that enhance the feasibility and profitability of future developments.

Investment Highlights:

Versatile Uses: Zoning flexibility allows for multiple development applications such as multifamily, commercial, mixed-use, medical and traditional office.

Medical Office Plans: The site was originally slated as a four story, +/- 153,172 SF medical office building, benefiting from its proximity to HCA Florida Cutler Bay Emergency, Jackson South Medical Center, and Baptist Health Urgent Care.

Convenient Accessibility: The site’s ideal location offers seamless access to Florida’s major thoroughfares such as US-1, the Florida Turnpike, and I-95.

Opportunity Zone: The Qualified Opportunity Fund (QOF) program offers tax incentives to developers and investors.

Density: The Eureka Sector allows for a multi-family development with a density of 43 units per acre. Should a developer seek to