Colliers has been tapped to sell a more than three-acre development site on Biscayne Boulevard. The property, located at 11240 Biscayne Blvd., in Miami, has an asking price of $10.5 million.

The development site currently has two different zoning designations, with 94,497 square feet zoned to allow for the development of 10-21 multifamily units per acre. The remaining 46,200 square feet are zoned for commercial use, making the land ideal for a mixed-use development that could include residential, hotel, office or other commercial uses.

Colliers’ Gerard Yetming, Julian Zuniga and Mitash Kripalani are handling the listing on behalf of the seller, Alex Silberman.

“This is an exciting opportunity for investors in a market that is hungry for multifamily and mixed-use development,” said Yetming. “The development site is located in a highly desired retail corridor with access to many shops and restaurants, and uniquely positioned in a market that is seeing a scarcity of apartment inventory and available development sites.”