PURA VIDA APARTMENTS AND RETAIL
2901 W 16th Ave, Hialeah, FL – Miami MSA
$ 0 M USD
business plan & results
The property required rezoning, platting, and vacating a mobmile home park in order to build 260 apartments with 11,000 sqft of first floor retail. The project was successfully approved, the mobile home park was vacated. The property was sold at a premium to other operating partners of the deal.
site & Project
The site consisted of a mobile home park located in Hialeah, FL, at a very visible corner intersection along W. Okeechobee Rd. & W 16th Ave. The development required vacating the site and rezoning of the property in order to build the 260 apartments and reselling the property to an income investor.
Hialeah is one of the most dynamic and densely populated cities in South Florida. The area’s heavily Latino-skewed demographics is under-retailed for its population density. Due to lack of available buildable sites, little new retail square footage is supplied to the submarket. Avg. Household Income in a 3-mile radius is $59,380 and the 3-mile radius population is 214,323.