Cushman & Wakefield, as an exclusive marketing advisor, is pleased to offer for sale AQUA at North Bay Village, a 1.34-acre (58,443 SF) waterfront development site located at 1755 Kennedy Causeway in North Bay Village. The site offers expansive views of Biscayne Bay with 300 feet of direct water frontage and is ideally situated between Miami Beach and Miami.
The site is zoned CG – General Commercial District and is within the Bay View Overlay (BOV) District. The purpose of this zoning district is to encourage the development of hotel, office, retail and mixed use developments. Current zoning allows density of up to 70 units per acre. However, in May 2018 the North Bay Village Commission voted 5-0 to allow for density of up to 100 units an acre on the site. The site up zoning already the full support of the Village Planning & Zoning Board and the Village Commission.
The site is currently leased for parking spaces for $59,532 per year. The lease allows for a 30-day opt out once a building permit is issued for construction.
The site represents one of the few remaining waterfront sites in Miami-Dade. The demand for waterfront developments continues to be strong. New waterfront condominiums are over selling at an average of over $1,000 per square foot.