Listed by Douglas Elliman Real Estate Coral Gables
$1,475,000
Wynwood Norte Development Opportunity
Details
APN 01-31-25-027-0410
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 7,150
Occupancy 100%
Tenancy Multi
Broker Co-Op Yes
Class C
Year Built 1925
Buildings 1
Lot Size (SqFt) 7,150
Zoning 3900 T4 (NRD)
Investment Type Redevelopment
Sale Condition N/A
TR4 (NRD) Infill Site Income in Place | Multifamily
Marketing description
AS-IS Wynwood Norte infill opportunity: tenant-occupied triplex on approx. 7,150 sq ft lot near Midtown, Design District and Wynwood Walls. Miami 21 T4 General Urban Transect supports urban residential redevelopment; Wynwood NRD-1 street master plan may apply (buyer to verify zoning, density, setbacks, build-to and permitting). In-place income approx. $2,450/mo; month-to-month tenants provide flexibility for repositioning or redevelopment while offering immediate cash flow for buy-and-hold investors. Offered AS-IS/where-is, subject to buyer due diligence. Annual taxes approx. $12,404 (buyer to verify). Price negotiable; seller open to terms for qualified buyers.
Investment highlights
- Price Improvement $1,475,000
- CMA avaliable of last one sold. (property next door exactly the same)
- Wynwood North Development Site in a rapidly expanding growth corridor
- Two Existing Tenants Providing Interim Passive Income during planning, design, and entitlement phase
- Ideal for Developers & Builders seeking land with income offset while conducting architectural studies
- Surrounded by Active New Construction and proposed residential / mixed-use projects
- Surrounded by Active New Construction and proposed residential / mixed-use projects
- Excellent Proximity to Midtown, Design District, Wynwood Arts District & Downtown Miami
- Strong Long-Term Upside as Wynwood continues its northward expansion
- Interim Income: ±$29,400 annually while plans and studies are underway
- Tenants on month to month lease willing to stay while until construction starts, just need 90 day notice.
Listing Contacts
Listed by Douglas Elliman Real Estate Coral Gables
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