the eden - loopnet...the eden sale comparables | 13 3 2 nw 79 street miami, fl 33150 land sf 34,269...

The Eden235 NE 79 Street, Miami FL 33138

O F F E R I N G M E M O R A N D U M

The EdenCONTENTS

Exclusively Marketed by:

David Fermoselle Sharif Bula Rafael FermoselleCommercial Advisor Broker Managing Partner(305) 299-4124 (305) 244-3880 (305) 299-4136Lic: 3306806 Lic: BK3057657 Lic: [email protected] [email protected] [email protected]

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.

01 Executive Summary Investment Summary 3 Location Summary 5

02 Property Description Property Features 6 Aerial Map 7 Parcel Map 8 Opportunity Zone 9 Zoning Map 10 Traffic Counts 11

03 Sale Comps Sale Comparables 12 Sale Comparables Charts 16 Sale Comparables Map 17

04 Demographics Demographics 18 Demographic Charts 19

05 Additional Information Rent Comparables - Multifamily 21 Rent Comparables - Retail & Office 24 Eden - Survey 26 Miami 21 - T-6-8-O Zoning Code 27 Eden - Architectural Renderings 32 79 Street Train Station 38 Triton Center 40

The Eden Investment Summary | 03

OFFERING SUMMARYADDRESS 235 NE 79 Street

Miami FL 33138

COUNTY Miami-Dade

MARKET Miami

SUBMARKET Little River

OFFERING PRICE $4,750,000

PRICE PSF $118.63

LAND SF 40,040 SF

OWNERSHIP TYPE Fee Simple

ZONING TYPE T6 8-O

# OF PARCELS 2

APN 01-32070200470

Site Qualifies for Real Estate & Business OpportunityZone Tax Incentives (Deferred/Reduced Capital GainsTaxes)125 Feet of Frontage on Heavily Traveled NE 79th StreetCorridorT-6-8-O zoning allows 8 Story mixed-use futuredevelopment projectPro Forma NOI: $300,663

Pro Forma Cap Rate: 6.33%

AADT: 29,600

Build 138 Units

Eleventrust is proud to present - The Eden, located at 235-257 NE 79Street, Miami, Florida 33138.

The development site, located in the emerging market of Little River,consists of four (4) vacant buildings on two (2) contiguous parcels, with atotal of 40,040 square feet. The entire site is zoned T6-8-O, which allows adeveloper to erect an 8 story, mixed-use building, with a density of 150dwelling units per acre (i.e. retail/office - ground floor to mid level floors)and residential units (higher floors). A developer can also request areduction of the number of parking spaces required due to the site's closeproximity to public transportation on NE 79th Street as well as the future79th Street Transportation Hub that will feature the Virgin Train Lines.

The acquisition would allow an investor/operator/developer two value addopportunities:

Option A: Acquire a portfolio of vacant buildings and immediatelyimplement a capital improvement program to lease the retail space andoperate the multi-family building as a short-term rental. Conservativeunderwriting suggests a net operating income of $300,663 and a proformacap rate of 6.33% can be achieved in a market that is experiencing anincrease in revitalization, investment and development activity. Populationgrowth, an excellent demographic profile, and access to multiple publictransportation options are all features that support the investmentfundamentals for this asset.

The Eden Investment Summary | 04

Option B: Acquire a development site, with 125 feet of frontage, on highlyvisible 79th Street corridor, for future development of a mixed-usedevelopment project. The City of Miami is eager to assist work-forcehousing developers and willing to grant various bonuses to developmentsites (increase density, reduced parking requirements, etc.) in closeproximity to public transportation hubs, especially for a site located on amajor corridor and walking distance to a second (Biscayne Boulevard).Workforce housing is currently in short supply in the City of Miami and anyproject catering to nurses, police officers, and teachers will be wellreceived. In addition, any future tenant will have more disposable incomeand ability to pay higher rents because they are utilizing publictransportation and spending less on auto loans and associated expenses.

The Eden Location Summary | 05

Location Summary• The Little River area was one of Old Miami's original neighborhoodswhose main industries were farming, fishing and shipping due to it's

close proximity to Biscayne Bay. Today, Little River and thesurrounding areas that makeup Miami's Urban Core (DesignDistrict, Wynwood, Little Haiti, Allapattah, MIMO District, LittleHavana and the Upper East Side) are all undergoing gradualchanges as a younger demographic seeks to live work and playcloser to Downtown Miami. In response, independent restaurateurs,art gallery artists/owners as well as retailers have set up shop tooffer millennials various destinations.

Little River is a short drive away from the Beaches, DowntownMiami and other up and coming markets previously mentioned.Little Haiti, directly in the path of progress, makes it the ideal placeto invest especially for multi-family investment properties that caterto workforce housing.

Future development projects in the immediate area such as EastRidge (22 Acre Mixed Use Project - apartments, hotel andcommercial office), the Magic City Innovation District ($1B mixed-use development to include retail, office, residential, entertainmentand technology center)

Other projects include The Citadel (a 60,000 SF hub for dining,shopping, and working with a food hall and announced tenantsincluding Stanzione, Bianco Gelato and Smashing Avo’s), andTriton Center (a mixed use development project - 25,000 SF ofcommercial space, a 139 room hotel with 325 loft style apartmentsand an additional 12 story apartment building) will only accelerateappreciation values of the subject property. Road and sewerinfrastructure projects along NE 2nd Avenue and NE 79 Street arecurrently in progress.

Regional Map

Locator Map

The Eden Property Features | 06

PROPERTY FEATURESLAND SF 40,040LAND ACRES 0.92# OF PARCELS 2ZONING TYPE T6 8-OLOCATION CLASS CTRAFFIC COUNTS AADT 29,600

NEIGHBORING PROPERTIESNORTH Commercial BuildingSOUTH NE 79th StreetEAST Commercial BuildingWEST Vacant Land

The Eden Aerial Map | 07

The Eden Parcel Map | 08

The Eden Opportunity Zone | 09

The Eden Zoning Map | 10

The Eden Traffic Counts | 11

The Eden Sale Comparables | 12

1

170 NE 79 StreetMiami, FL 33138

BUILDING SF 3,060

LAND SF 4,850

SALE PRICE $824,200

BUILDING/PSF $269.35

LAND/PSF $169.94

CLOSING DATE 9/30/2019

DISTANCE 0.1 miles

Land/PSF $72 - $170

LOW HIGH

Notes Flex (retail/industrial) building. No tenant in place attime of transaction. Building had recent lightrenovations. DOM: Unknown. Zoning: T6-8-O.

2


LAND SF 13,865

SALE PRICE $1,150,000

LAND/PSF $82.94


DISTANCE 1.0 miles

Land/PSF $72 - $170

LOW HIGH

Notes Sale Conditions: DOM: Unknown, not exposed toopen market. Proposed Use: Unknown. Sub-Market:Little River. Zoning: T-5-O.


3

2 NW 79 StreetMiami, FL 33150

LAND SF 34,269


LAND/PSF $75.87


DAYS ON MARKET 468

DISTANCE 0.3 miles

Land/PSF $72 - $170

LOW HIGH

DOM 468 - 468

LOW HIGH

Notes Sale Conditions: Proposed Use: 7 ElevenConvenience Store & Gas Station. Sub-Market: LittleRiver. Zoning: T-6-8-O.

4

920-930 NE 79 StreetMiami, FL 33138

LAND SF 12,000


LAND/PSF $86.67


DISTANCE 0.9 miles

Land/PSF $72 - $170

LOW HIGH

Notes Sale Conditions: DOM: Unknown, not exposed toopen market. Proposed Use: Unknown. Sub-Market:Little River. Zoning: T-5-O.


5


LAND SF 29,879


LAND/PSF $120.49


DISTANCE 1.1 miles

Land/PSF $72 - $170

LOW HIGH

Notes Sale Conditions: DOM: Unknown, not exposed toopen market. Proposed Use: Self-Storage Building.Sub-Market: Little River. Zoning: T-5-O.

6

7924 NE 2 AvenueMiami, FL 33138

BUILDING SF 178,810

LAND SF 139,116


BUILDING/PSF $55.93

LAND/PSF $71.88


DISTANCE 0.2 miles

Land/PSF $72 - $170

LOW HIGH

Notes Sale Conditions: DOM: Unknown, not exposed toopen market. Assemblage for future re-Development.Existing 7 story building severely deteriorated andobsolete at time of transaction. Proposed Use:Unknown. Sub-Market: Little River. Zoning: T-6-8-Oand T-5-O.


S

The Eden235 NE 79 StreetMiami, FL 33138

LAND SF 40,040

ASKING PRICE $4,750,000

LAND/PSF $118.63

Land/PSF $72 - $170

LOW HIGH

The Eden Sale Comparables Charts | 16

The Eden Sale Comparables Map | 17

# Address CityS 235 NE 79 Street Miami1 170 NE 79 Street Miami2 1001 NE 79 Street Miami3 2 NW 79 Street Miami4 920-930 NE 79 Street Miami5 1100 NE 79 Street Miami6 7924 NE 2 Avenue Miami

The Eden Demographics | 18

POPULATION 1 MILE 3 MILE 5 MILE

2000 Population 25,767 170,080 462,392

2010 Population 26,693 166,614 469,732

2019 Population 27,864 184,433 516,105

2024 Population 28,803 195,566 548,952

2019 African American 16,615 100,752 204,762

2019 American Indian 104 671 1,849

2019 Asian 265 2,120 6,069

2019 Hispanic 8,171 64,180 254,236

2019 White 8,616 67,227 264,395

2019 Other Race 1,066 7,363 22,326

2019 Multiracial 1,192 6,236 16,489

2019-2024: Population: Growth Rate 3.35 % 5.90 % 6.20 %

2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE

less than $15,000 2,885 13,939 38,376

$15,000-$24,999 1,560 8,677 24,720

$25,000-$34,999 1,076 7,092 20,429

$35,000-$49,999 1,419 9,370 25,818

$50,000-$74,999 1,347 10,048 29,809

$75,000-$99,999 810 6,078 16,394

$100,000-$149,999 662 5,847 16,205

$150,000-$199,999 303 2,064 6,005

$200,000 or greater 381 2,459 9,404

Median HH Income $31,653 $38,903 $39,742

Average HH Income $53,830 $60,398 $64,986

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2000 Total Housing 11,028 64,919 184,800

2010 Total Households 10,144 59,166 169,661



2019 Average Household Size 2.64 2.76 2.70

2000 Owner Occupied Housing 3,808 26,395 73,416

2000 Renter Occupied Housing 5,712 31,453 88,113



2019 Vacant Housing 1,293 9,437 32,776

2019 Total Housing 11,736 75,010 219,943



2024 Vacant Housing 1,265 9,415 32,905

2024 Total Housing 11,998 78,999 232,751

2019-2024: Households: Growth Rate 2.75 % 5.95 % 6.60 %

Source: esri

The Eden Demographic Charts | 19

1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Household Income

1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Population by Race

The Eden Demographic Charts | 20

2019 Household Occupancy - 1 Mile Radius

Average Income Median Income

2019 Household Income Average and Median

The Corr ido r 760 NE 85 Street, Miami, FL 33138

Pro pert y Summ ary

Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Rent Rent per SF

1 bd + 1 ba 1 524 $1,378 $2.62 Total/ Avg 1 524 $1,378 $2.62

Unit Mix Breakdo w n

Comp arables Rent Analysis

1 bd / 1 ba $1,150 - $1,818

LOW HIGH

Notes 20 18 new con struc t ion. Mod ern Kitchen (g ranite coun ter top s, new app liances), mod ern bathroo m, new t ile floor s, in unit washer/ dry er, parking and imp act w indo ws/ doo rs. W aterfron t : No.

UNITS 1 YEAR BUILT 20 18 OCCUPANCY 100 .00 %

810 1 Biscayne Boulevard, Miami, FL 33138

Pro pert y Summ ary UNITS 3 YEAR BUILT 1968 OCCUPANCY 100 .00 %

Notes [ Data for Apt . R-510 , R-6 12, R-20 3] DOM: 38 , 42 & 8] ( Leased: June 15, August 1 & Nov emb er 29, 20 18).Unit features: Industrial style lof ts w it h po lished concr ete floor s, mod ern kitchen (cabinets, stainless steal app liances including dishw asher, granite coun tertop s), Central HVAC, Imp act W indo ws, in unit washer/ dry er, upd ated mod ern bathroo m (including finishes). Am enities: Elevator, Key card entry system, gym and roof top deck with spa. Parking: Yes. Sub-market: Upp er East Side. W aterfron t : No.


Studio + 1 ba 1 533 $1,450 $2.72 Studio + 1 ba 1 558 $1,450 $2.59 Studio + 1 ba 1 640 $1,350 $2.10

Total/ Avg 3 577 $1,417 $2.47



Studio / 1 ba $9 25 - $1,450

LOW HIGH

Studio / 1 ba $9 25 - $1,450

LOW HIGH

Studio / 1 ba $9 25 - $1,450

LOW HIGH

436 NE 77 Street Road, Miami, FL 33138


Notes Leased: May 14 , 20 18 ( DOM: 28). Unit features new kitchen (g ranite coun ter top s, new app liances, new cabinets) new bathroo m, hardw ood floor s,in unit washer/ dry er, central a/ c, key card entry. Sub market: Iron side District. W aterfron t : No.


1 554 $1,350 $2.43 1 554 $1,350 $2.43

1 bd + 1 ba 1 bd + 1 ba Total/ Avg 2 554 $1,350 $2.43



$1,150 - $1,818 1 bd / 1 ba

LOW HIGH

1 bd / 1 ba $1,150 - $1,818

LOW HIGH

750 4 NE 6 Court, Miami, FL 33138


Notes [ Data for Apt . 7 & Apt . 14 ] DOM: 45 & 50 ( Leased: July 2, 20 18 & Decemb er 1, 20 18). Unit features: Upd ated mod ern kitchen (cabinets, stainless steal app liances, granite coun tertop s), Central HVAC, in unit washer/ dry er, upd ated mod ern bathroo m (including finishes), t ile floor s, alarm system. Parking: Street. Sub-market: Upp er East Side. W aterfron t : No.


7 500 $1,250 $2.50 14 500 $1,300 $2.60

Studio + 1 ba Studio + 1 ba

Total/ Avg 21 500 $1,275 $2.55



$9 25 - $1,450 Studio / 1 ba

LOW HIGH

Studio / 1 ba $9 25 - $1,450

LOW HIGH

MULTIFAMILY RENTAL COMPARABLES

The Eden Rent Comparables - Multifamily | 21

7950 NE Bayshore Court , Miami, FL 33138

Pro pert y Summ ary


1 bd + 1 ba 1 742 $1,818 $2.45 Total/ Avg 1 742 $1,818 $2.45



1 bd / 1 ba $1,150 - $1,818

LOW HIGH UNITS 1 YEAR BUILT 20 15 OCCUPANCY 100 .00 %

69 4 NE 76 Street # 1, Miami, FL 33138

Pro pert y Summ ary


Studio + 1 ba 1 550 $1,300 $2.36 Total/ Avg 1 550 $1,300 $2.36



Studio / 1 ba $9 25 - $1,450

LOW HIGH

Notes DOM: 164 ( Leased: January 1, 20 19) . Unit features: Upd ated kitchen ( cabinets, stainless steal app liances), Imp act W indo ws, Central HVAC, upd ated bathroo m. Parking: Yes. Sub-market: Upp er East Side. W aterfron t : No.

UNITS 1 YEAR BUILT 1927 OCCUPANCY 100 .00 %

7825 NE Bayshore Court # 40 5, Miami, FL 33138

Pro pert y Summ ary


1 631 $1,350 $2.13 1 bd + 1.5 ba Total/ Avg 1 631 $1,350 $2.13



$1,222 - $1,600 1 bd / 1.5 ba

LOW HIGH

Notes DOM: 57 ( Leased: February 5, 20 19) . Unit features: Kitchen/ bathroo m in good con dit ion, Central HVAC, t ile floor s, in unit washer/ dry er. Am enities: Gym, poo l and con trolled access. Parking: Yes. Sub-market: Upp er East Side. W aterfron t : Yes.


7899 NE Bayshore Court, Miami, FL 33138


Notes [ Data for Apt . 4 F, 4 G & 4 B] DOM: 23,16 & 42] ( Leased: May 15/ Decemb er 1, 20 18 & March 11, 20 19) . Unit features: Mod ern kitchen (cabinets, stainless steal app liances including dishw asher, granite coun tertop s), Central HVAC, Imp act W indo ws, upd ated mod ern bathroo m (including finishes). Am enities: Laundry (co mm on areas) Elevator, gym , gated access. Parking: Yes. Sub-market: Upp er East Side. W aterfron t : Yes.


1 741 $1,600 $2.15 1 741 $1,600 $2.15 1 858 $1,550 $1.80

1 bd + 1.5 ba 1 bd + 1.5 ba 1 bd + 1.5 ba

Total/ Avg 3 780 $1,583 $2.0 3



$1,222 - $1,600 1 bd / 1.5 ba

LOW HIGH

1 bd / 1.5 ba $1,222 - $1,600

LOW HIGH

1 bd / 1.5 ba $1,222 - $1,600

LOW HIGH



645 NE 77 Street # 11, Miami, FL 33138

Pro pert y Summ ary


2 bd + 1 ba 1 752 $1,550 $2.0 6 Total/ Avg 1 752 $1,550 $2.0 6



2 bd / 1 ba $1,300 - $1,550

LOW HIGH

Notes DOM: 91 ( Leased: January 4 , 20 19) . Unit features: Fully renov ated, mod ern kitchen ( cabinets, stainless steel app liances including dishw asher, granite coun tertop s), Central HVAC, vinyl wood floor s, upd ated mod ern bathroo m (including finishes). Am enities: Gated access, key card entry. Parking: Yes. Sub-market: Upp er East Side. W aterfron t : Yes.


7820 NE Bayshore Court # 10 1, Miami, FL 33138


Notes DOM: 82 ( Leased: Nov emb er 15, 20 18). Unit features: Unit in good con dit ion but unit has not undergo ne major renov at ions, Central HVAC, t ile floor s. Sub- market: Upp er East Side. W aterfron t : No.


2 bd + 1 ba 1 $1,400 $0 2 bd + 1 ba 1 826 $1,400 $1.69 Total/ Avg 2 826 $1,400 $0 .85



2 bd / 1 ba $1,300 - $1,550

LOW HIGH

2 bd / 1 ba $1,300 - $1,550

LOW HIGH

66 5 NE 83r d Terrace # 30 2, Miami, FL 33138

Pro pert y Summ ary


2 bd + 1 ba 1 66 5 $1,500 $2.25 Total/ Avg 1 66 5 $1,500 $2.25



$1,300 - $1,550 2 bd / 1 ba

LOW HIGH

Notes DOM: 59 ( Leased: January 29, 20 19) . Corner unit. Unit features: Upd ated kitchen ( new cabinets, granite coun tertop s, stainless steel app liances including dishw asher), Central HVAC, cro wn moldings, new paint, balcon y, vinyl wood floor s. Am enities: Sub-market: Upp er East Side. W aterfron t : No.


422 NE 82 Street, Miami, FL 33138

Pro pert y Summ ary


1 855 $1,350 $1.57 2 bd + 1 ba Total/ Avg 1 855 $1,350 $1.57



$1,300 - $1,550 2 bd / 1 ba

LOW HIGH

Notes DOM: 9 ( Leased: May 1, 20 18). Corner unit. Unit features: Partially renov ated. Upd ated kitchen ( new cabinets, granite coun tertop s, new app liances), W all unit HVAC. Am enities: None. Parking: Yes. Sub-market: Upp er East Side. W aterfron t : No.\




742 NE 79th StMiami, FL 33138

RSF 1,000

YEAR BUILT 1939

LEASE TYPE UNK

RENT PSF (YEARLY) $30.00

RENT PSF(MONTHLY)

$2.50

ANNUAL RENT PSF $0 - $38

LOW HIGH

RSF 557 - 6,014

LOW HIGH

882 NE 79th St.Miami, FL 33138

RSF 557

YEAR BUILT 1941

LEASE TYPE FS


RENT PSF(MONTHLY)

$3.17


LOW HIGH

RSF 557 - 6,014

LOW HIGH

RETAIL & OFFICE COMPARABLESThe Eden Rent Comparables - Retail & Office | 24

355 NE 79 StMiami, FL 33138

RSF 4,006

YEAR BUILT 1924

OCCUPANCY 100.00 %

LEASE TYPE MG


RENT PSF(MONTHLY)

$1.50


LOW HIGH

RSF 557 - 6,014

LOW HIGH

7201-7275 NE 4th AveMiami, FL 33138

RSF 5,375

YEAR BUILT 1955

OCCUPANCY 84.00 %

LEASE TYPE MG


RENT PSF(MONTHLY)

$1.91


LOW HIGH

RSF 557 - 6,014

LOW HIGH

RETAIL & OFFICE COMPARABLESThe Eden Rent Comparables - Retail & Office | 25

The Eden Eden - Survey | 26

MIAMI 21

V.29

AS ADOPTED - JANUARY 2018ARTICLE 5. SPECIFIC TO ZONES

LOT OCCUPATIONa. Lot Area 5,000 s.f. min.; 40,000 s.f. max.

b. Lot Width 50 ft min.

c. Lot Coverage

- 1-8 Stories 80% max.

- Above 8th Story 15,000 sq. ft. max. Floorplate for Residential & Lodging30,000 sq. ft. max. Floorplate for Office & Commercial

d. Floor Lot Ratio (FLR) 5 / 25% additional Public Benefit

e. Frontage at front Setback 70% min.

f. Open Space 10% Lot Area min.

9. Density 150 du/ac max.*

BUILDING SETBACKa. Principal Front 10 ft. min.; 20 ft. min. above 8th Story

b. Secondary Front 10 ft. min.; 20 ft. min. above 8th Story

c. Side 0 ft. min.; 30 ft. min. above 8th Story

d. Rear 0 ft. min.; 30 ft. min. above 8th Story

e. Abutting Side or Rear T5 0 ft. min. 1st through 5th Story10 ft. min. 6st through 8th Story30 ft. min. above 8h Story

Abutting Side or Rear T4 6 ft. min. 1st through 5th Story26 ft. min. above 5th Story

Abutting Side or Rear T3 10% of Lot depth** min. 1st through 2nd Story26 ft. min. 3rd through 5th Story46 ft. min. above 5th Story

ILLUSTRATION 5.6 URBAN CORE TRANSECT ZONES (T6-8)

BUILDING DISPOSITION

FRONTAGEa. Common Lawn prohibited

b. Porch & Fence prohibited

c. Terrace or L.C. prohibited

d. Forecourt permitted

e. Stoop permitted

f. Shopfront permitted (T6-8 L and T6-8 O only)

9. Gallery permitted by Special Area Plan

h. Arcade permitted by Special Area Plan

BUILDING HEIGHTa. Min. Height 2 Stories

b. Max. Height 8 Stories

c. Max. Benefit Height 4 Stories Abutting all Transects Zones except T3

* Or as modified in Diagram 9

BUILDING CONFIGURATION

BUILDING PLACEMENT PARKING PLACEMENT

BUILDING HEIGHT

The Eden Miami 21 - T-6-8-O Zoning Code | 27

MIAMI 21

VI.13

AS ADOPTED - JANUARY 2018ARTICLE 6. TABLE 13 SUPPLEMENTAL REGULATIONS (CONTINUED)

RESTRICTED LIMITED OPEN

DENSITY (UPA) 150 UNITS PER ACRE * 150 UNITS PER ACRE * 150 – 1,000 UNITS PER ACRE *

DWELLING UNIT Efficiency Dwelling Unit: 400 square feet min.One bedroom Dwelling Unit: 550 square feet min.Two bedroom Dwelling Unit: 650 square feet min.

Micro Dwelling Unit: 275 square feet min. Only permitted within a TOD area. Permitted by Warrant. Prohibited on a Lot Abutting T3. Efficiency Dwelling Unit: 400 square feet min.One bedroom Dwelling Unit: 550 square feet min.Two bedroom Dwelling Unit: 650 square feet min.

Micro Dwelling Unit: 275 square feet min. Only permitted within a TOD area. Permitted by Warrant. Prohibited on a Lot Abutting T3. Efficiency Dwelling Unit: 400 square feet min.One bedroom Dwelling Unit: 550 square feet min.Two bedroom Dwelling Unit: 650 square feet min.

BOATSHOUSEBOATHOUSE BARGE

Occupancy of private pleasure crafts and houseboats or house barges shall not be allowed except for those specifically grandfathered and regulated by Ordinance #10932, adopted 10-24-1991.



BOAT HOUSE Maximum size: 20 feet wide, 40 feet long, 15 feet high. Maximum size: 20 feet wide, 40 feet long, 15 feet high. Maximum size: 20 feet wide, 40 feet long, 15 feet high.

BOAT SLIP Maximum coverage of waterfront setback: 35% Maximum coverage of waterfront setback: 35% Maximum coverage of waterfront setback: 35%

DOCKS PIERS

Extension of docks and Piers into Biscayne Bay are limited to 35 feet However, by Exception a 600 feet maximum extension of docks and Piers into Biscayne Bay may be allowed.Extension of docks and Piers into other waterways is limited to 10 feet or 10% of the width of the waterway, whichever is less. However, by Exception further extension may be approved, subject to approval from all applicable agencies.Only private pleasure craft may be docked or moored on property Adjacent to T3-R, T4-R, T5-R, T6-R.Dock/ Pier setbacks: 10 feet from any Abutting propertyVessel setback: 5 feet from any Abutting property.Prohibited uses or appurtenances: davits in excess of 3 ton capacity, commercial vessels, commercial boat ramps, and commercial hauling and fueling.



COMMUNITYRESIDENCES1-6-RESIDENTS

Subject to the requirements of Section 6.2. Subject to the requirements of Section 6.2. Subject to the requirements of Section 6.2.

COMMUNITY RESIDENCES7-14-RESIDENTS


ADULT FAMILYCARE HOME1-5-RESIDENTS


HOME OFFICE Shall be located wholly within Dwelling Unit.Maximum size of home office shall not exceed 25% of the size of the Dwelling Unit based on county property records.Home Office occupations limited to individual tutoring; non-amplified individual instrument instruction; authors and composers; artists; designers; seamstresses; tailors; and uses similar in impact. Office uses, excluding medical and dental offices. Maximum of one client at a time.Maximum of two staff members, one of which must reside on premises.Hours of operation limited to Monday through Saturday 8:00 AM to 6 PM.No equipment or process shall be used which creates undue noise, vibration, glare, fumes, or odors detectable to normal senses off the property. Certificate of Use required.

Shall be located wholly within Dwelling Unit.Maximum size of home office shall not exceed 25% of the size of the Dwelling Unit based on county property records.Home Office occupations limited to individual tutoring; non-amplified individual instrument instruction; authors and composers; artists; designers; seamstresses; tailors; and uses similar in impact. Office uses, excluding medical and dental offices. Maximum of one client at a time.Maximum of two staff members, one of which must reside on premises.Hours of operation limited to Monday through Saturday 8:00 AM to 6 PM.No equipment or process shall be used which creates undue noise, vibration, glare, fumes, or odors detectable to normal senses off the property. Certificate of Use required.

Shall be located wholly within Dwelling Unit.Maximum size of home office shall not exceed 25% of the size of the Dwelling Unit based on county property records.Home Office occupations limited to individual tutoring; non-amplified individual instrument instruction; authors and composers; artists; designers; seamstresses; tailors; and uses similar in impact. Office uses, excluding medical and dental offices. Maximum of one client at a time.Maximum of two staff members, one of which must reside on premises.Hours of operation limited to Monday through Saturday 8:00 AM to 6 PM.No equipment or process shall be used which creates undue noise, vibration, glare, fumes, or odors detectable to normal senses off the property. Certificate of Use required.

T6 - URBAN CORE ZONE

* Or as modified in Article 4, Diagram 9


MIAMI 21

VI.14






LIVE WORK Shall be located within ground floor or Liner Units.Maximum size of work occupation shall not exceed 50% of the size of the Dwelling Unit based on county property records.Live Work occupations limited to those allowed in Transect Zone.No equipment or process shall be used which creates undue noise, vibration, glare, fumes, or odors detectable to normal senses off the property.Certificate of Use required.

Shall be located within ground floor or Liner Units.Maximum size of work occupation shall not exceed 50% of the size of the Dwelling Unit based on county property records.Live Work occupations limited to those allowed in Transect Zone.No equipment or process shall be used which creates undue noise, vibration, glare, fumes, or odors detectable to normal senses off the property.Certificate of Use required.

AUTO RELATEDCOMMERCIAL

Car Wash:Self-service, semiautomatic, and automatic dragline shall provide for each of the first 3 wash stalls, 3 parking reservoir spaces before and 3 after. Beyond 3 stalls, 1 parking reservoir spaces before and 2 after each stall.Custom hand car wash shall provide for each wash stall, 1 parking reservoir space before each stall and 1 after, and 5 additional parking spaces.One (1) reservoir parking space may be reduced by Waiver.Gas Stations:Principal Frontage access may be allowed.Frontage requirement may be reduced maximum 30% by Waiver. Building Facade may be a colonnade.All vending machines shall be located indoors. Trash facilities shall be completely enclosed and shielded from Primary Frontages. Only vehicles awaiting service, permitted rental vehicles and staff vehicles parked while working shall be allowed. All repairs, change of tires, greasing/lubricating shall be conducted within building. Outdoor display of products incidental to normal refueling is prohibited closer to the street than pump islands. Outdoor display or storage of tires is prohibited.Vehicle Rental Facilities:In addition to the parking requirements in Article 4 Table 4 for lease or rental passenger vehicle facilities there shall be 10 parking spaces provided for first 10,000 square feet of Floor Area and 1 space for each additional 500 square feet. In addition to the parking requirements in Article 4 Table 4 for lease or rental cargo vehicle facilities 1 parking space per staff and 1 space for each 8 vehicles stored on the premises.All access to site shall be from a County designated primary arterial road. Building designated for customer service must be located where it is easily accessible from site access point.All transactions must be conducted indoors.All vehicle storage areas must be lighted without causing spillover onto Abutting properties.On-site vehicle service must be conducted indoors and is limited to minor repairs and maintenance.

Car Wash:Subject to City Code Chapter 23Self-service, semiautomatic, and automatic dragline shall provide for each of the first 3 wash stalls, 3 parking reservoir spaces before and 3 after. Beyond 3 stalls, 1 parking reservoir spaces before and 2 after each stall.Custom hand car wash shall provide for each wash stall, 1 parking reservoir space before each stall and 1 after, and 5 additional parking spaces.One (1) reservoir parking space may be reduced by Waiver.Gas Stations:Subject to City Code Chapter 23 Principal Frontage access may be allowed.Frontage requirement may be reduced maximum 30% by Waiver. Building Facade may be a colonnade.All vending machines shall be located indoors. Trash facilities shall be completely enclosed and shielded from Primary Frontages. Only vehicles awaiting service, permitted rental vehicles and staff vehicles parked while working shall be allowed. All repairs, change of tires, greasing/lubricating shall be conducted within building. Outdoor display of products incidental to normal refueling is prohibited closer to the street than pump islands. Outdoor display or storage of tires is prohibited.Vehicle Rental Facilities:In addition to the parking requirements in Article 4 Table 4 for lease or rental passenger vehicle facilities there shall be 10 parking spaces provided for first 10,000 square feet of Floor Area and 1 space for each additional 500 square feet. In addition to the parking requirements in Article 4 Table 4 for lease or rental cargo vehicle facilities 1 parking space per staff and 1 space for each 8 vehicles stored on the premises.All access to site shall be from a County designated primary arterial road. Building designated for customer service must be located where it is easily accessible from site access point.All transactions must be conducted indoors.All vehicle storage areas must be lighted without causing spillover onto Abutting properties.On-site vehicle service must be conducted indoors and is limited to minor repairs and maintenance.

DRIVE-THROUGH AND DRIVE-IN

Reservoir parking spaces shall be required as follows:One (1) at window, three (3) before service window, one (1) after service window.One (1) reservoir parking space may be reduced by Waiver.

LARGE SCALE RETAIL Subject to the requirements of Section 6.3.


MIAMI 21

VI.15






PUBLIC STORAGEFACILITY

Allowed by Warrant and subject to the following additional requirements: Minimum distance requirement of 2,500 feet radius between proposed facility and another existing facility within any T5 or T6 Zone. Waiver for reduction in distance requirement is not permissible. Public Storage Facilities shall have ground floor retail along principal frontage. A minimum of 50% of the proposed ground floor retail shall be unrelated to the Public Storage Facility. The maximum size of any individual storage rental space shall be 400 square feetControlled access and adequate security surveillance shall be provided throughout facility.Any boat or vehicle stored in these facilities shall not exceed an overall length of 25 feet and shall be stored within an enclosed and ventilated Structure.Hours of operation shall be limited to 5:00 am to 11:00 pm.

OPEN AIR RETAIL Subject to the following additional requirements:Access to site must be from a major Thoroughfare.Distance separation of any Open Air Retail shall be a minimum of 75 feet measured from any property within T3, T4-R, T5-R, or T6-R Zone.Operation limited to weekends and legal holidays for a maximum of 3 consecutive days between the hours of 7:00 AM and 7:00 PM.Provision of paving striping for stalls and parking spaces. Provision of onsite restroom facilities.

Subject to the following additional requirements:Access to site must be from a major Thoroughfare.Distance separation of any Open Air Retail shall be a minimum of 75 feet measured from any property within T3, T4-R, T5-R, or T6-R Zone.Operation limited to weekends and legal holidays for a maximum of 3 consecutive days between the hours of 7:00 AM and 7:00 PM.Provision of paving striping for stalls and parking spaces. Provision of onsite restroom facilities.

ADULT DAYCARE Allowed by Warrant per Article 4 Table 3.For 6 to 9 adults:Minimum of 350 square feet of indoor activity area.

Allowed by Warrant per Article 4 Table 3.For 6 to 9 adults:Minimum of 350 square feet of indoor activity area.For 10 or more adults:Minimum of 35 square feet of indoor activity area per adult.

COMMUNITY SUPPORTFACILITY

Assisted Living Facilities: Allowed by Exception and are subject to the following additional requirements:Minimum distance requirement of 2,500 feet between proposed facility and another existing facility.Minimum distance requirement of 1,000 feet between proposed Facility and any T3 or T4 R Zone.

Assisted Living Facilities: Allowed by Exception and are subject to the following additional requirements:Minimum distance requirement of 2,500 feet between proposed facility and another existing facility.Minimum distance requirement of 1,000 feet between proposed facility and any T3 or T4-R Zone.

Assisted Living Facilities: Allowed by Exception and are subject to the following additional requirements:Minimum distance requirement of 2,500 feet between proposed facility and another existing facility.Minimum distance requirement of 1,000 feet between proposed facility and any T3 or T4-R Zone.

PERSONAL WIRELESS SERVICE FACILITY


HELICOPTER LANDINGSITE

Helicopter landing sites as regulated by federal and state law may be permitted by Warrant subject to the following additional requirements:May only be used for the landing and takeoff of helicopters dropping off and picking up passengers and cargo, and may not include fueling, repair, or long term parking or storage of helicopters.Unless used for emergency operations (police, fire, and hospital) landings and takeoffs shall be restricted to Monday through Friday from 9:00 AM to 5 PM on parcels Abutting T3, T4, T5-R, and T6-R.Ground level sites shall be located away from Buildings, trees, or significant terrain features to avoid possible air turbulence. Rooftop sites shall be given priority over ground level sites in congested areas.




MIAMI 21

VI.16




CHILDCARE Minimum of 35 square feet of usable indoor floor space per child on license. Minimum of 45 square feet of usable outdoor play area per child. A minimum outdoor play area shall be provided for one half of license capacity. In no event shall any outdoor play area be less than 450 square feet. The minimum standard of outdoor play area does not apply for children under one year of age. Minimum of 1 drop off parking space for every 10 children. Vehicular entrance must be within 300 feet of arterial road.

Minimum of 35 square feet of usable indoor floor space per child on license. Minimum of 45 square feet of usable outdoor play area per child. A minimum outdoor play area shall be provided for one half of license capacity. In no event shall any outdoor play area be less than 450 square feet. The minimum standard of outdoor play area does not apply for children under one year of age. Minimum of 1 drop off parking space for every 10 children. Vehicular entrance must be within 300 feet of arterial road.

Minimum of 35 square feet of usable indoor floor space per child on license. Minimum of 45 square feet of usable outdoor play area per child. A minimum outdoor play area shall be provided for one half of license capacity. In no event shall any outdoor play area be less than 450 square feet. The minimum standard of outdoor play area does not apply for children under one year of age. Minimum of 1 drop off parking space for every 10 children. Vehicular entrance must be within 300 feet of arterial road.

REGIONAL ACTIVITY COMPLEX

Regional Activity Complex: Allowed by Exception with City Commission approval and are subject to the following additional requirements:Regional Activity Complexes are not allowed in Transect Zones T6-8 and T6-12.Minimum distance requirement of 1,000 feet between proposed facility and any T3 or T4 Zones.Transect regulations pertaining to Building Disposition, and Building Configuration shall be considered referential guidelines for Regional Activity Complexes. Any exemption from these guidelines must comply with the following criteria:1. exemptions shall be justified by functional requirements connected to the uses proposed; and2. exemptions shall be reduced to the minimum required to achieve the required functionality; and 3. exemptions in the aggregate shall be evaluated for compliance with the Transect’s intent regarding intensity and scale; and4. exemptions shall be evaluated for compliance with criteria set forth in Article 4, Table 12, as applicable; and5. specific findings shall be made by the Planning Director regarding the nature and extent of each proposed exemption and said findings shall be contained in the recommendation report for the Exception which ma be considered as substantial and competent evidence b the PZAB and City Commission respectively.



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The Eden Eden - Architectural Renderings | 32

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COLLABORATIVE INDEPENDENT + BLOOMMIAMI

LANDSCAPE DESIGN


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Station Area Today

79th Street MiAMiNE 4th Avenue and 79th Street

Strengths and Opportunities • Large retail space directly

northeast of the station provides a redevelopment opportunity.

• Retail space east of the station site has long-term redevelopment potential.

• Existing plans support mixed-use development and streetscape improvements in the station area.

• Located in Community Redevelopment Area.

Weaknesses and Barriers • Poor pedestrian access to the

station, especially from NE 82nd Street and NE 79th Street.

• Few infill opportunities for new development.

• New River/South Florida Water Management District Canal parallels the railway, creating connectivity issues east of the station.

proposed station community retail residential industrial vacant

The Eden 79 Street Train Station | 38

Station Area Tomorrow

Tri-Rail Coastal LinkGetting Southeast Florida To Work

Miami-Dade

Broward

PalmBeach

Future vision

The 79th Street Station will bring riders to the town center and support planned mixed-use redevelopment.

• Redevelopment plan will include additional retail, housing units, and office buildings within walking distance of the station.

• 79th Street will become more pedestrian friendly and urban with redevelopment that is multi-story and mixed use, fronts the sidewalk, and has parking behind the building.

Future Vision taken from the South Florida East Coast Corridor Transit Study: Station Area Planning Workbook, 2012.

Town Center

Jobspeople employed (2018)**

new jobs***

Housingtotal residents (2018)**

new housing units*

value of new housing*

New Commercialnew development (sq. ft.)*

value of new development*

New Revenuead valorem

non ad valorem

* Estimated for 2015-2025 with station** FDOT SERPM Model (6.5.2)*** Tri-Rail Coastal Service Station Area Market and Economic Analysis, April 2013

1/2-Mile Station Area

5,230

90

7,180

100

$5,200,000

25,000

$1,600,000

$89,000

$70,000

69

The Eden 79 Street Train Station | 39

PlannedredevelopmentofformerINSlocationinMiamidraws$26MloanThedevelopersplantoturnthepropertyat7880BiscayneBlvd.intomixed‐usedevelopmentwithhotelrooms,apartmentsandcommercialspace

January 14, 2018 10:30AM

The Eden Triton Center | 40

TritonCenterrendering

Developers planning to redevelop a former home of the U.S. Immigration and Naturalization Service (INS) in Miami borrowed $26 million to finance the project. Three entities managed by Ye Zhang — Florida Fullview Immigration Building, Fullview Immigration Building I and Wealthy Delight — borrowed the money from an affiliate of Madison Realty Capital. In 2013, the developers paid $12.5 million for the former INS location at 7880 Biscayne Boulevard, which the federal agency vacated in 2008. The developers have razed the building the INS occupied and plan to turn the 1.4-acre property into a mixed-use development called Triton Center, designed by Stantec. Triton Center would encompass a 139-room Hilton Garden Inn hotel, 324 apartments, approximately 585 parking spaces, and 25,000 square feet of commercial space. [South Florida Business Journal]—MikeSeemuth

The Eden Triton Center | 41

The Eden

CONFIDENTIALITY and DISCLAIMERThe information contained in the following offering memorandum is proprietary andstrictly confidential. It is intended to be reviewed only by the party receiving it fromEleventrust and it should not be made available to any other person or entity withoutthe written consent of Eleventrust.

By taking possession of and reviewing the information contained herein the recipientagrees to hold and treat all such information in the strictest confidence. Therecipient further agrees that recipient will not photocopy or duplicate any part of theoffering memorandum. If you have no interest in the subject property, pleasepromptly return this offering memorandum to Eleventrust. This offering memorandumhas been prepared to provide summary, unverified financial and physical informationto prospective purchasers, and to establish only a preliminary level of interest in thesubject property.

The information contained herein is not a substitute for a thorough due diligenceinvestigation. Eleventrust has not made any investigation, and makes no warranty orrepresentation with respect to the income or expenses for the subject property, thefuture projected financial performance of the property, the size and square footage ofthe property and improvements, the presence or absence of contaminatingsubstances, PCBs or asbestos, the compliance with local, state and federalregulations, the physical condition of the improvements thereon, or financialcondition or business prospects of any tenant, or any tenant’s plans or intentions tocontinue its occupancy of the subject property.

The information contained in this offering memorandum has been obtained fromsources we believe reliable; however, Eleventrust has not verified, and will not verify,any of the information contained herein, nor has Eleventrust conducted anyinvestigation regarding these matters and makes no warranty or representationwhatsoever regarding the accuracy or completeness of the information provided. Allpotential buyers must take appropriate measures to verify all of the information setforth herein. Prospective buyers shall be responsible for their costs and expenses ofinvestigating the subject property.

Exclusively Marketed by:

David Fermoselle Sharif Bula Rafael FermoselleCommercial Advisor Broker Managing Partner(305) 299-4124 (305) 244-3880 (305) 299-4136Lic: 3306806 Lic: BK3057657 Lic: [email protected] [email protected] [email protected]

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