287 NW 31st St
All Offers Welcome! 7,200 sqft T4-R Lot with potential to build 24 units, 3 stories.
Marketing description
7,200 sqft Lot Covered land play in coveted Wynwood Norte, this prime investment T-4R property with NRD-2 Zoning Overlay presents an exceptional chance to build up to 16 units as of right, without parking requirements. Also works as a luxury townhomes site. Strategically located near Wynwood, Midtown, Design District and flanked by the I-95 and I-195. Property currently consists of a single family 3 beds and 1 bath and can generate approximately $3,000/m
Property is within walking distance of many entertainment, retail, hospitality, art galleries, and restaurants, including several Michelin-awarded restaurants. South of Design District and west of Mid-Town, the area is experiencing rapid growth, with hundreds of new developments coming to Wynwood Norte after a rapid expansion of Wynwood, which currently has over 6,000 residential units and 2M SF of office!
Investment highlights
Allowed 24 units to be built with no parking requirement
Wynwood Norte has a huge renter community with over 80% of residents renting apartments or homes.
35% population growth in Miami from 2010-2022, increasing demand for housing
Create tastefully designed units in an up and coming neighborhood that is within a 5-minute drive to the trendy neighborhoods of Wynwood, Edgewater and the Design District
South Florida has attracted many businesses to relocate to the area bringing thousands of new jobs to the area
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