$5,500,000
Once-in-a-lifetime development opportunity in Homestead. Administratively approved for ±60-unit 55+ independent living community. Exceptional 6.09-acre corner parcel with dual frontage at S Canal Dr & SE 18 Ave, near Turnpike, US-1, retail, hospitals, and major amenities. Property includes extensive due diligence: traffic impact study and near-complete permit-ready plan sets (architectural, structural, civil, mechanical, electrical & plumbing). Geotechnical report completed with soil borings, permeability test, and foundation recommendations, significantly reducing risk and development timeline. Flexible options include approved 55+ concept or townhouse development allowing density optimization. Rare, fully engineered development opportunity with strong development upside. Exceptional 6.09-acre corner development site located at S Canal Dr & SE 18th Ave in Homestead, Florida. The property benefits from dual frontage, strong visibility, and excellent access to US-1, Florida’s Turnpike, retail, schools, hospitals, and major employment corridors. The site is administratively approved for approximately 60 units of a 55+ independent living community, offering a rare opportunity for age-restricted residential development with projected stabilized income exceeding $1.4M annually. A full pre-development due diligence package has been completed, significantly reducing entitlement risk and accelerating delivery timelines. Included are a Traffic Impact Study, near-complete permit-ready plan sets (architectural, structural, civil, and MEP), and a comprehensive geotechnical report with soil borings, permeability testing, settlement analysis, and foundation recommendations. Two development options are available: (1) approved ±60-unit 55+ independent living community, or (2) townhouse development alternative, allowing flexibility in unit mix, density optimization, and site layout based on market strategy and approvals. The property is currently unimproved and free of structures, offering full design flexibility. Its corner configuration enhances access, circulation, and development efficiency, making it highly attractive for residential development. Buyer to verify all plans, approvals, zoning, and entitlements with the City of Homestead and Miami-Dade County.
A12007157
MLS
S Canal Drive, Homestead