3925 WASHINGTON AVE MIAMI FL 33133-5646
SHOVEL-READY DUPLEX DEAL IN SOUTHWEST COCONUT GROVE
Marketing description
Redevelopment Investment Summary – 3910 Grand Ave / 3925 Washington Ave, Miami FL 33133
Southwest Coconut Grove / St. Albans Park – City-Approved Duplex
Project Overview
One prime T3-O zoned lot (5,063 SF / 0.12 acres) in St. Albans Park with fully city-approved construction permits already in hand for a new side-by-side duplex building. The shovel-ready plans deliver two modern townhome-style units, each offering 2,396 SF under A/C (total 4,792 SF A/C) thoughtfully laid out over two floors with 3 bedrooms and 4 full bathrooms per unit, plus balconies and high-end finishes. Private entrances, no HOA, and immediate build potential eliminate 12–18 months of entitlement and permitting delays. This is a rare turn-key redevelopment opportunity in one of Miami’s most desirable, rapidly appreciating neighborhoods.
Investment highlights
Comparable Market Support
Recent new-construction townhome and duplex-style sales (2024–2026) within a 1-mile radius in Southwest Coconut Grove and adjacent areas support exit values of $1.35M–$1.75M+ per unit at $560–$730+/SF. Current active listings for similar modern 3BD/4BA units in the Grove trade between $1.4M–$2.0M ($580–$850/SF). At $1.65M per unit (~$688/SF A/C), this development would position very strongly within the market’s premium segment, justified by its permitted status, design quality, corner location, and proximity to the Grove’s core amenities, marinas, and major corridors.
Market Context & Demographics
- Neighborhood Growth: Southwest Coconut Grove / St. Albans Park continues strong infill redevelopment with limited new supply and consistent 8–12% annual home-value appreciation.
- Buyer Profile: Dual-income professionals and families (household incomes $200K+) seeking new-construction townhomes or duplex units under $1.8M—priced out of prime Grove single-family but attracted by the quality, location, and walkability.
- Area Snapshot: Median household income well above county average; strong rental demand transitioning to higher-end ownership. Excellent connectivity: minutes to Brickell, Coral Gables, Coconut Grove Village, marinas, and major arteries.
- Connectivity: Direct access to major roads, pedestrian-friendly zones, restaurants, supermarkets, shopping, and recreational areas.
Strategic Takeaway
This opportunity represents a low-risk, entitled infill development in one of Miami’s most stable and desirable neighborhoods
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Key strengths include:
✅ Fully approved duplex plans and shovel-ready permits (build immediately)
✅ No HOA + private entrances for broad buyer appeal
✅ Premium Southwest Coconut Grove location minutes from everything
✅ Solid upside from Grove premium pricing
✅ $1.65M exit value per unit strongly supported by recent comps and limited new inventory
Conclusion: With sustained buyer demand for modern, low-maintenance townhome-style product in Coconut Grove and virtually no new supply at this price point, this project aligns perfectly with both short-term development and medium-term resale strategies. It offers a compelling Q3 2027 exit scenario with good upside potential and controlled execution risk.
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