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1189 NW 26th St - Develop 49 Unit West of Wynwood 0.11 Acres of Commercial Land Offered at $2,755,155 CAD in Miami, FL 33127
INVESTMENT HIGHLIGHTS
- Plans submitted for 49 units (48 rentals & 1 commercial unit)
- Proform $1.1 mm + in rents when delivered and stabilized as leased up
- Between Wynwood, Design District, Midtown Miami, Edgewater & the Hospital District
- Plans submitted by right under Live Local & are on the 2nd round of comments
- Near 2 metro stations 4-5 blocks north and south of site for TOD status
- Only $42,000/door land cost
EXECUTIVE SUMMARY
Develop 49 units in a proposed 9-story apartment building West of Wynwood & blocks to the UM Hospital District in Miami, FL. Plans are in process and are on the 2nd round of submission with the City of Miami. Develop by-right via the ‘Live Local Act’, 48 residential units plus one (1) commercial/office. As this site is in a ‘Transit Oriented Development’ (“TOD”) Area, it benefits from the cost savings of zero parking requirements. The location is within blocks of two metro-stations just north and south of the site along NW 12th Ave. Potential for over $1.1 mm in annual proforma revenue when developed, delivered & stabilized. Plans in process on 2nd round of submissions. Only $42,000/door land cost.
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL (CAD) | ANNUAL PER AC (CAD) |
|---|---|---|
| Gross Rental Income |
$1,568,535
|
$13,663,194.19
|
| Other Income |
$20,768
|
$180,901.57
|
| Vacancy Loss |
$62,741
|
$546,527.77
|
| Effective Gross Income |
$1,526,561
|
$13,297,567.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$457,968
|
$3,989,265.57
|
| Net Operating Income |
$1,068,593
|
$9,308,302.42
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,568,535 |
| Annual Per AC | $13,663,194.19 |
| Other Income (CAD) | |
|---|---|
| Annual | $20,768 |
| Annual Per AC | $180,901.57 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $62,741 |
| Annual Per AC | $546,527.77 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,526,561 |
| Annual Per AC | $13,297,567.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $457,968 |
| Annual Per AC | $3,989,265.57 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,068,593 |
| Annual Per AC | $9,308,302.42 |
PROPERTY FACTS
| Price | $2,755,155 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.11 AC |
| Property Type | Land | ||
| Zoning | T4-L Live Local - T4-L, TOD, and Live Local allowing 49 units. | ||
| Price | $2,755,155 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.11 AC |
| Zoning | T4-L Live Local - T4-L, TOD, and Live Local allowing 49 units. |
1 LOT AVAILABLE
Lot 1
| Price | $2,755,155 CAD | Lot Size | 0.11 AC |
| Price Per AC | $24,007,764.42 CAD |
| Price | $2,755,155 CAD |
| Price Per AC | $24,007,764.42 CAD |
| Lot Size | 0.11 AC |
West of Wynwood Lot on NW 12th Ave on the way to the Hospital District within 4-5 blocks of 2 metro stations. Live Local submitted development plans benefitting from TOD, Live Local, & 100% parking reduction for 49 units. Zoned T4-L. 5,000 SF lot.
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (71)
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1189 NW 26th St - Develop 49 Unit West of Wynwood
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