5591 SW 8th Street
Land For Sale on Calle Ocho | 0.36 acres | $3.2M
Marketing description
ONE Sotheby's International Realty is pleased to present, on an exclusive basis, the sale of a premier urban core development site located at 5591 SW 8th Street (Calle Ocho), Miami, Florida 33134. This five-lot assemblage totaling 15,616 square feet (0.36 acres) is positioned at the northeast corner of SW 56th Avenue and SW 8th Street in the Flagami neighborhood, immediately north of Coral Gables — offered at $3,200,000.
Zoned T6-8-O under the Miami 21 Code, the site permits up to 8 stories of mixed-use development with a base FAR of 5.0 yielding approximately 78,080 buildable square feet. Plans were previously filed with the City of Miami in May 2023 by CG Smile, designed by Modis Architects, for a 7-story, 52,258 SF office building including 21,000 SF of medical/dental office space, 1,980 SF of ground-floor retail, and 70-space structured parking. The site offers extraordinary flexibility for a wide range of development programs including multifamily residential, hotel, office, medical office, or mixed-use.
Investment highlights
- 5-lot assemblage at the prime NE corner of SW 56th Avenue & SW 8th Street — 15,616 SF of contiguous land with strong corner presence and dual access
- T6-8-O Urban Core zoning — 8 stories, FAR 5.0, 150 units/acre, mixed-use by right with NO ground-floor retail requirement for interior lots
- Actual plans filed May 2023: 7-story, 52,258 SF building designed by Modis Architects for CG Smile — medical office, retail, and structured parking
- Direct frontage on Calle Ocho (SW 8th St) with 23,500+ vehicles/day — one of Miami's highest-traffic commercial corridors
- Alley to the north provides secondary access and exceptional development flexibility
- Immediately north of Coral Gables city limit — benefits from premium Coral Gables proximity and values while in City of Miami
- Live Local Act eligible — potential to exceed base FAR/density with qualifying workforce housing units
- Less than 5 miles to Miami International Airport; 1.5 miles to Brickell Financial District; 2 miles to Downtown Miami
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