$3,350,000
 $17,984 est/mo Sourced by Back At You

118 NW 24th Street,Miami, FL 33127

Miami, FL 33127

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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.

Details

MLS #A12056960
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site101
Listing Provided ByInternational RG | Cuindney D. Mantilla

Features

Zoning6101
Acreage0.17

Exterior

Lot FeaturesOne To Two Acres, Two To Three Acres, Central Business District, City Lot

Taxes

Tax Annual Amount56717

Area Information

StateFL
CountyMiami Dade
CityMiami
Zip Code33127
Area2310
Community NameMARKS SUB
Listing VS Median (in MARKS SUB)
Price:
$3,350,000
low | high
Med:
$3,350,000
50% of Average
On site:
101
low | high
Med:
238
42.436974789916% of Average
Sourced by Back At You

Market Activity 33127

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Learn More About This Property

Candace Hubbard Crum

Candace Hubbard Hubbard Crum

Coldwell Banker Premium Realty

SL3507223 (561) 701-3993candace@cbfloridarealty.com
StateFL
CountyMiami Dade
CityMiami
Zip Code33127
Area2310
Community NameMARKS SUB
Listing VS Median (in MARKS SUB)
Price:
$3,350,000
low | high
Med:
$3,350,000
50% of Average
On site:
101
low | high
Med:
238
42.436974789916% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $2.512M - $4.187M
sqft: 0 - 0
Nearby Listings Property ImageNearby Listings Details
118 NW 24th Street Property Photo 1
$3,350,000
118 Nw 24th Street
Miami, FL 33127
Listing Updated: October 29, 2026 at 12:16:34 PM PDT
Candace Hubbard Crum
License #: SL3507223
(561) 701-3993
Coldwell Banker Premium Realty
406 Lucerne Ave
Lake Worth Beach, FL 33460

Candace Hubbard - Coldwell Banker Premium Realty