Spotlighting Miami-Dade County’s Underutilized Properties

Our latest algorithm has spotlighted underutilized properties in Wynwood-Edgewater. In this exercise, I focus on identifying owners with the most significant capacity for residential development. We've uncovered some intriguing insights by organizing the data by owner name and calculating the allowable units per property group.

To my surprise, Miami-Dade County owns the most underutilized properties and the highest potential for residential development. The county owns 34 properties in this neighborhood alone, collectively capable of accommodating 571 residential units. This impressive figure prompts curiosity about any existing or upcoming development plans.

Breaking down the numbers, the county-owned property with the highest potential can support 101 units, followed by others that could yield 72 and 64 units, respectively. On the smaller end, six properties could each yield four units. On average, each lot presents an opportunity to develop 16 units. This discovery is exciting and warrants further exploration to see if any of these properties are adjacent, which could amplify development possibilities.

Moishe Mana’s Expansive Development Potential

The second-largest owner of underutilized sites, based on units allowed, is Melanie Holdings LLC—owned by none other than Moishe Mana. Interestingly, these properties didn't surface in my previous search for Mana's holdings, suggesting that the 79 properties identified last week might be the tip of the iceberg. This group under Melanieline has the potential for 525 residential units, indicating substantial opportunities under Mana's expansive portfolio.

Identifying Additional Development Opportunities in Edgewater

The third-largest owner is 3333 Biscayne LLC, held by Brooklyn-based developer Ben Beitel. According to reports from The Real Deal, Beitel recently listed this assemblage in Edgewater for $75 million.

Next, I will leverage the PRO software to investigate what these owners can build on their underutilized properties. Understanding the full scope of development potential will help to anticipate the future landscape of Wynwood-Edgewater and identify additional opportunities for strategic investment.