Where Transit Meets Opportunity
The Underline’s Impact, Your Investment Opportunity
Welcome to The Underline Redevelopments, a curated collection of high-potential investment and redevelopment opportunities located along Miami’s most visionary urban renewal project—The Underline. These strategically positioned assets offer immediate income, favorable zoning, and the rare ability to capitalize on Miami’s evolving transit-oriented development landscape.
Positioned within walking distance of key transit nodes and nestled in the heart of vibrant, high-demand neighborhoods, these properties offer the ideal foundation for sophisticated investors and developers to reshape the urban fabric with luxury multi-family residences. With flexible T5 zoning, TOD incentives, and a direct connection to The Underline, each site is uniquely positioned to benefit from enhanced density, reduced parking requirements, and proximity to a revitalized pedestrian and transit network.
“The Underline Development”
This redevelopment opportunity includes an income producing multi-family approved for (2) three story, luxury townhomes along "The Underline". The opportunity consists of redevelopment of the existing $5,400.00 monthly and redeveloping two luxury townhomes. The lots benefit from favorable T5-R zoning, which allows for development density of 65 units per acre "by right”. The property sists in the TOD (transit orient development boundary) allowing for even greater density and intensity. The property is currently a single-family home in the "Natoma Park" subdivision. The median listing home price in Natoma Park was $1.5M in December 2022, trending up 22% year-over-year. The median listing home price per square foot was $613. The existing property is 2,100 ft on a 5,200 ft lot. The property abuts the underline directly to the South. In our analysis, the highest and best use is as a redevelopment for either two upscale twin homes or four-row house townhomes. The underline will experience new development and revitalization.
This site is identified by folio number 01-4115-026-0611 and is located within the Natoma Park subdivision. The current structure is a single-family residence featuring three bedrooms and two bathrooms, with one living unit across a single story. The home consists of 2,183 square feet of actual area, 1,561 square feet of living area, and an adjusted area of 1,581 square feet. The lot measures 5,200 square feet and is positioned directly along The Underline, in the heart of the Transit-Oriented Development (TOD) boundary between Coconut Grove and Brickell. The property benefits from favorable T5-R zoning, allowing for residential density of up to 65 units per acre by right. It will be delivered with approved architectural plans, making it ideal for immediate redevelopment. The asking price for this property is $1,400,000.
Grove Covered Land
This redevelopment opportunity is comprised of (2) contiguous investment properties totaling +/-10,000 feet of land. The lot(s) assemblage allows (73) units via Live Local on (8) floors, eliminating parking. This development could deliver the Highest & Best Use as a boutique condo building or a more traditional rental building. The lots benefit from favorable T5-O zoning. The property sits in the TOD (transit orient development boundary), allowing for even greater density and intensity and a complete elimination of parking requirements. The property abuts the underline directly to the South. In our analysis, the highest and best use is as redevelopment for a mixed-use project with up to 100 units.
The existing site includes two currently income-producing properties, identified by folio numbers 01-4116-035-0240 and 01-4116-035-0250. Together, they generate approximately $138,000 annually in gross rental income. Both properties are rented on a month-to-month basis, providing valuable holding income during the planning and entitlement phases of redevelopment. The site encompasses approximately 3,420 square feet of existing structures, consisting of two residential units across a single story. Located within the Sylvanmere subdivision, the combined land area totals 10,000 square feet and enjoys direct adjacency to The Underline, positioned between the rapidly growing neighborhoods of Coconut Grove and Brickell. With its favorable T5-O zoning and prime location within the TOD boundary, this asset presents a rare opportunity to capitalize on scale, existing income, and long-term upside. The asking price for the assemblage is $3,400,000.
Grove Chic Residence
This redevelopment opportunity is directly along The Underline, "GROVE CHIC RESIDENCE". The offering is comprised of (1) single-family home & 1 duplex totaling +/- 14,000 feet of land. The lot(s) assemblage allows 50 units via Live Local on (5) floors reducing parking by 80-85%. This development could deliver the Highest & Best Use as a boutique condo building or a more traditional rental building. The lots benefit from favorable T4-L zoning. The property sits in the TOD (transit orient development boundary) allowing for even greater density and intensity and a complete elimination of parking requirements. The property abuts the underline directly to the South. In our analysis, the highest and best use is as redevelopment for a mixed-use project with anywhere from 50 to 60 units on 5-6 stories.
The current improvements include a single-family home and a duplex, comprising a total of three residential units across a single story. The structures offer a combined adjusted area of approximately 3,288 square feet. Together, the two parcels—identified by folio numbers 01-4116-037-0310 and 01-4116-037-0311—sit on a combined 13,567 square feet of land within the Sylvanmere subdivision. Both lots are situated directly along The Underline, in a prime location between Coconut Grove and Brickell. With T4-L zoning and inclusion within the TOD (Transit-Oriented Development) boundary, this property is ideally positioned for redevelopment. The asking price for the assemblage is $3,000,000.
The Underline Story:
In 2013, Friends of The Underline founder, Meg Daly, broke both of her arms. Since she could not drive herself to physical therapy, she decided to take the Metrorail near her home, and then walk the rest of the way to her destination underneath the train tracks. Even in July, she did not feel hot in the shade of the tracks. She noticed how wide the corridor was and how much space there was … and she was the only person using the space. Since its founding, Friends of The Underline has been committed to transforming the underutilized land below Miami’s Metrorail—from the Miami River to Dadeland South Station—into a 10-mile linear park, urban trail, and public art destination. Through a partnership with Miami-Dade County, a vibrant and engaged board of directors, public and private donors, and hundreds of volunteers, The Underline is becoming an example for repurposing unused land into a public park and community space and asset. And so, The Underline was born.
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