Log In/Sign Up
Your email has been sent.
118 NW 24th St
Miami, FL 33127
Office Property For Sale
Investment Highlights
- Covered Land Play with Immediate Cash Flow in Wynwood
- 7,500 SF Lot with T5-O / NRD-1 Zoning (Up to 5 Stories)
- Fully Stabilized Asset with Leases in Place
- 8-Unit Multifamily (Studios) Generating ~$12,400/Month
- Prime Redevelopment Opportunity (Residential, Retail, STR Potential)
- Walkable Location Near Wynwood Walls, Dining & Entertainment
Executive Summary
Exceptional covered land play with in-place multifamily income located in the heart of Wynwood—one of Miami’s most rapidly evolving urban cores. The property sits on a 7,500 SF lot and features a 2,620 SF multifamily building configured as 8 studio units (8/8), currently generating approximately $12,400/month in stable income with leases in place.
Zoned T5-O / NRD-1, the site offers strong redevelopment potential up to 5 stories, allowing for a mix of residential, retail, or short-term rental use. Ideal for investors seeking immediate cash flow while land banking for future vertical development.
Additional highlights include:
8 assigned street parking spaces (City decal)
New roof (2016)
Central washer/dryer
WiFi network for tenants
All leases current and stabilized
Strategically located within walking distance to Wynwood Walls, Zak the Baker, and surrounded by top-tier dining, retail, and nightlife, with close proximity to Design District, Midtown, Downtown Miami, Miami Beach, and Allapattah.
Seller is motivated and willing to review offers.
Zoned T5-O / NRD-1, the site offers strong redevelopment potential up to 5 stories, allowing for a mix of residential, retail, or short-term rental use. Ideal for investors seeking immediate cash flow while land banking for future vertical development.
Additional highlights include:
8 assigned street parking spaces (City decal)
New roof (2016)
Central washer/dryer
WiFi network for tenants
All leases current and stabilized
Strategically located within walking distance to Wynwood Walls, Zak the Baker, and surrounded by top-tier dining, retail, and nightlife, with close proximity to Design District, Midtown, Downtown Miami, Miami Beach, and Allapattah.
Seller is motivated and willing to review offers.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
2,754 SF
Building Class
B
Year Built
1927
Price
$5,420,672 CAD
Price Per SF
$1,968.29 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
2,754 SF
Building FAR
0.37
Lot Size
0.17 AC
Zoning
T5-O/NRD-1 - T5-O/NRD-1
Parking
8 Spaces (2.9 Spaces per 1,000 SF Leased)
Amenities
- Controlled Access
- Fenced Lot
- Skylights
- High Ceilings
- Natural Light
- Wi-Fi
- Air Conditioning
Property Taxes
| Parcel Number | 01-3125-037-0420 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $3,837,496 CAD |
Property Taxes
Parcel Number
01-3125-037-0420
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$3,837,496 CAD
1 of 34
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
