Answers / Selling
What is my lot worth as a teardown?
Direct answer
In Shenandoah, the 9 houses marketed for their land in the 24 months to September 28, 2026 sold at a median $650,000, about $104 per square foot of lot, on a median 6,483 ft² lot. They sold in a median 16 days. New houses built since 2020 sold at a median $1,680,000 on 5,900 ft² lots.
Miami MLS closed sales, houses and townhouses inside Shenandoah's civic boundary, 24 months to September 28, 2026. Method
What are the numbers behind it?
| Shenandoah sales | Sales | Median price | Median price per ft² of lot | Median lot |
|---|---|---|---|---|
| Marketed as teardown or land value | 9 | $650,000 | $104 | 6,483 ft² |
| Lowest-priced quarter of pre-1940 houses | 28 | $637,500 | $109 | 5,850 ft² |
| Houses built 2020 or later | 35 | $1,680,000 | $309 | 5,900 ft² |
Source: SEFMLS / MIAMI REALTORS®, September 27, 2022 through September 28, 2026. Data is deemed reliable but is not guaranteed accurate by the MLS and may not reflect all real estate activity in the market. Totals and medians only, no client names or addresses. Properties counted were listed or sold by various MLS participants, not necessarily by Gatien Salaun or Coldwell Banker Realty.
In more detail
What is the range?
The 9 land-value sales ran from $542,000 to $1,450,000.
Does zoning change the number?
It can. In the City of Miami, a T3-O lot allows a two-family house and a T3-R lot a single-family house only. Of 228 mapped Shenandoah sales in the same 24 months, 43 sat in T3-O, and 18 of those were built in 2015 or later, against 18 of 175 in T3-R. See What do T3-R, T3-L and T3-O zoning allow?.
How was this counted?
Counted from the same MLS data as every figure on this site, for the stated window and boundary. Medians are withheld below 5 closings.
Canonical facts: Boundary