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Rare Miami River redevelopment opportunity located at 3066 NW S River Dr, Miami, FL 33142. The property consists of approximately 34, 596 SF (0. 79 acres) with an existing ±7, 850 SF building. Current zoning allows up to 250 units per acre, supporting approximately 197 residential units with potential for up to a 16-story development. Existing improvements can be utilized or redeveloped for multifamily, mixed-use, hospitality, restaurant, entertainment, or owner-user use. Strategically positioned along the rapidly transforming Miami River corridor with close proximity to Brickell, Downtown Miami, Wynwood, the Health District, Miami International Airport, and major highways. The Miami River continues to emerge as one of Miami’s premier waterfront destinations with substantial residential, hospitality, and commercial growth throughout the area. Excellent opportunity for developers, investors, restaurant operators, or owner-users seeking a prime riverfront location in one of Miami’s fastest-growing urban corridors. Offered for sale at $15, 000, 000 and for lease at $450, 000 NNN.
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Our Executive Mortgage Banker:
Our Insurance Division:
$15,000,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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| Loan Amount | $12,000,000 | $12,000,000 | $12,000,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.000% | 6.250% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.362% | 6.385% | 6.223% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $71,946 | $73,886 | $101,263 |
| Total Monthly Payment | $72,071 | $74,011 | $101,388 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.