139 NE 1st St, Miami FL, 33132

Active

139 NE 1st St

Miami FL, 33132

$18,500,000

$427.60 per sqft

Active

43,265 sqft

Commercial

Built in 1927

Shovel-ready hotel development with rare cost-saving advantages in Downtown Miami, steps from Miami Worldcenter, Brightline, and major corporate hubs. This fully entitled 163-room, 17-story project includes approved plans, demolition permits, and a 7-story steel structure, saving $5M-$10M in costs and cutting 6-12 months off development. The site qualifies for a 10-year Ad Valorem Tax Exemption and an estimated $8.74M in HTC benefits, creating major financial incentives. Located in one of Miami's strongest hospitality markets, this prime investment opportunity offers luxury hotel plans with a rooftop pool and the option for a pre-negotiated Flag Hotel Operator lease once developed, providing a turnkey, corporate-backed asset with substantial upside.

A11723637

MLSⓇ ID

January 13, 2025

Listed

February 20, 2025

Updated

Interior Features

Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 0.17 Acres

Other Property Details

Taxes: $90,162
Tax Frequency: Annually
Days on Market: 28
Garage: No
View: No
County: Miami-Dade County
Pool: No
Zoning: 6401

Listed by: Compass Florida, LLC
Listing Contact: 305-281-0175

Based on information from the Miami Association of REALTORS®. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated 7:02 PM UTC, 2/20/2025.