INCOME PRODUCING TRIPLEX 244 NW 32 ST, WYNWOOD NORTE
Wynwood Norte Cash-Flowing Triplex with 24-Unit By-Right Development Potential
Marketing description
Wynwood Norte Development Site | Covered Land Play
Rare opportunity to acquire a prime Wynwood Norte development site with existing income while you permit.
The property currently features a well-maintained ±2,000 SF triplex generating approximately $4,000/month in-place income. Tenants pay utilities and maintenance, helping offset carry costs during the entitlement and pre-construction phase.
Zoned T4-R within the NRD-2 overlay, allowing up to 150 units per acre. By right, a developer can build up to 24 residential units with no parking requirement and no variances needed.
The site is ideal for multifamily rental development or fee-simple townhomes in one of Miami’s fastest-evolving urban corridors.
Positioned just west of Midtown Miami and the Design District, the neighborhood continues to experience significant residential and commercial expansion fueled by billions in nearby investment. Over 6,000 residential units and more than 2 million square feet of office space are planned or under construction in the immediate area.
Easy access to I-95, Midtown, Wynwood, Edgewater, Downtown Miami, and Miami Beach further strengthens long-term demand fundamentals.
Our team has successfully closed 5 development sites within Wynwood Norte alone and can assist with design strategy, underwriting, entitlement guidance, and introductions to architects, lenders, and active construction groups familiar with the submarket.
DO NOT DISTURB TENANTS.
Showings by appointment only.
Investment highlights
By-Right Potential for 24 units with no parking requirement
Provides holding income while entitlements and design are completed
Hight-Density Efficiency: T4-R+NRD-2 allows 150 units/acre with no parking requirement under 20K SF.
This is the type of covered land play developers wait for:
Income in place.
Simple zoning.
No parking headaches.
No variance risk.
Just execute.
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