19801 NE 23rd Ave, Miami, FL 33180

The house at 19801 NE 23rd Avenue had 110 feet of lake frontage. A developer bought it, and a new home stands there now.

Some homes are sold for the land underneath them. This one, in the gated Enchanted Lake community, had a feature of particular interest to builders: 110 feet of lakefront. An end-user might focus on the state of the kitchen; a developer calculates what can be built. SunSt marketed the property to both but based the price on land value alone. The strategy worked. A developer paid $1,600,000 for the lot. The negotiation was not about the house's condition but about land metrics, frontage, and the possibilities of new construction. The seller realized the land's full potential value without taking on the risk of redevelopment.

A developer saw the future of the lot. The seller was paid for that future, not for the past represented by the existing house.