Build 12 Luxury Apartment units in Normandy Isles
Unique Opportunity to Develop Luxury units in Normandy Isles!
Marketing description
Positioned on an 8,822 SF lot with a 1,968 SF existing building, this 4-unit property is already producing $4,400/m giving a developer in-place income to help offset holding costs while advancing plans and permits. The attached plans envision a boutique 5-story, 12-unit multifamily with ground-level parking (11 spaces) and typical floors of three 2-bed/1-bath residences—about 10,000 SF of living area across levels 2–5. Walkable to Normandy Isle Park & Pool and a short hop to Normandy Shores Golf Club—amenities that help lease quickly. Daily convenience via trolley to Collins Ave and Town Center, plus easy causeway access for commuters—broadening your renter pool beyond beach workers to mainland employment centers. **Request the full OM, plan set, and pro forma or schedule a site tour.
Investment highlights
WHY THIS WORKS FOR A DEVELOPER:
Income during entitlement — $4,400/mo (4 units) offsets carry while you finalize approvals, bids, and financing.
Efficient unit mix — All 2BR/1BA; proven absorption and attainable rents—ideal for workforce-oriented, long-term holds.
Parking solved — 11 on-site spaces at grade streamline lease-up and lender underwriting.
Right-sized scale — 12 units = simple ops, lean HOA/management, flexible exits (stabilize/refi or sell).
Neighborhood fundamentals — North Beach/Normandy Isles: beach-adjacent, daily conveniences, quick causeway access, steady renter demand.
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