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$ 3,390,000
Est. payment /mo
New
118 NW 24th St Miami, FL 33127
7,492 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Marks Sub
MLS Listing ID A12056960
HOA Y/N No
Annual Tax Amount $56,717
Tax Year 2025
Lot Size 7,492 Sqft
Acres 0.172
Lot Dimensions 50x150
Property Sub-Type Commercial
Property Description
7,500 SF lot to Build up to 20,000 SF with no parking requirement, according to the City of Miami Building Department for projects of 20,000 SF or less. The site allows for a five-story mixed-use building featuring 24 residential units above a 4,000-3,600 SF ground-floor retail or restaurant space. The commercial space can be leased to generate a stable NNN (Triple Net) income stream, creating an additional revenue source while maximizing the property's long-term investment potential.
This land - multifamily in the heart of Miami's iconic Wynwood Arts District featuring eight fully leased studio apartments generates steady in-place income of approximately $12,400 per month, making it a strong holding option while exploring future redevelopment. Zoned T5-O/NRD-1.
The property benefits from its proximity to major lifestyle and employment hubs, including the Miami Design District, Midtown, Allapattah, and Downtown Miami, all within minutes. Immediate access to key transportation routes ensures connectivity across Greater Miami, and the neighborhood's walkability supports its thriving cultural, culinary, and retail environment. Investors can leverage Wynwood's upward trajectory for appreciation while benefiting from dependable short-term cash flow. This is a compelling opportunity to control an income-producing asset with significant redevelopment potential in one of Miami's most dynamic corridors.
This land - multifamily in the heart of Miami's iconic Wynwood Arts District featuring eight fully leased studio apartments generates steady in-place income of approximately $12,400 per month, making it a strong holding option while exploring future redevelopment. Zoned T5-O/NRD-1.
The property benefits from its proximity to major lifestyle and employment hubs, including the Miami Design District, Midtown, Allapattah, and Downtown Miami, all within minutes. Immediate access to key transportation routes ensures connectivity across Greater Miami, and the neighborhood's walkability supports its thriving cultural, culinary, and retail environment. Investors can leverage Wynwood's upward trajectory for appreciation while benefiting from dependable short-term cash flow. This is a compelling opportunity to control an income-producing asset with significant redevelopment potential in one of Miami's most dynamic corridors.
Location
State FL
County Miami-dade
Community Marks Sub
Area 30
Exterior
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Trash Collection, Water Available
Present Use Other
Private Pool Yes
Building
Sewer Public Sewer
Water Public
Others
Tax ID 01-31-25-037-0420
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12056960
Listed by IRG
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