A garden-style multifamily site in unincorporated South Miami-Dade, next to Homestead. Full site plan approval is in hand. Conceptual plans show 398 and 500 units with surface parking, and Florida's Live Local Act opens a path well beyond that.
The approved plan
An architectural animation and renderings of the approved site plan: six three-story buildings, a clubhouse with pool, a play area and surface parking throughout.
Renderings and animation illustrate the approved 321-unit plan. Tap any image to enlarge.
The site
Two frontages and a canal edge define the parcel. The outlined area is the land offered, about 11.2 acres in one assemblage of two folios.
Boundary outlines are approximate and for illustration. Refer to the survey for exact lines.
Density options
Start with the approved plan, or scale up. Every option the architect has drawn keeps surface parking and stays at five stories or less, so there is no parking structure and no elevator core to pay for.
Conceptual plans are architect studies and are not approved. Live Local Act eligibility, density and tax treatment should be confirmed by the buyer's land use counsel.
Approved plan
Full site plan approval through Miami-Dade County. Platting and building permits have not been started, so a developer can pick up the approved plan or redesign around one of the larger options.
| Unit type | Units | Size | Mix | Rentable SF |
|---|---|---|---|---|
| One bedroom | 87 | 730 SF | 27% | 63,510 |
| Two bedroom | 168 | 930 SF | 52% | 156,240 |
| Three bedroom | 66 | 1,030 SF | 21% | 67,980 |
| Total | 321 | 896 avg | 100% | 287,730 |
514 parking spaces (more than required) and 57 bicycle racks.
Market
Newer buildings nearby lease at about $3.00 per square foot. Sites that allow horizontal, surface-parked product this close to the TransitWay are hard to find in Miami-Dade, and this one is already approved.
| Lease comparable | Built | Units | Avg rent | Per SF |
|---|---|---|---|---|
| Vista Sur, Naranja | 2024 | 226 | $2,419 | $3.00 |
| Biscayne Drive Apts, Homestead | 2023 | 216 | $2,185 | $2.86 |
| Casa Princeton, Homestead | 2024 | 62 | $2,247 | $2.73 |
| Avenue at Naranja | 2022 | 231 | $2,142 | $2.56 |
That is about $10.4 million in gross potential rent a year, or roughly $2,690 per unit per month at the approved 896 SF average. Shown for illustration only, before vacancy and expenses.
Comparables as reported in the 2024 offering memorandum. Buyers should verify current rents.
Location
The TransitWay runs about 20 miles alongside US-1 from Dadeland South Metrorail to SW 344th Street. Its upgraded Metro Express bus rapid transit, with 14 rail-style stations, launched in late 2025 and connects people from Miami's urban core to a more affordable way of life here. The site sits in unincorporated Miami-Dade, outside Homestead city limits.
Due diligence
Approval documents, plans and reports are available to qualified buyers.
Contact
This site is offered by the owner and is not listed. There is no asking price. We take offers and are glad to walk through the approvals, the conceptual plans and the Live Local options.
Broker cooperation welcome. If you represent a qualified buyer, reach out to register your client before sharing the site.