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1189 NW 26th St - Develop 43 Unit West of Wynwood - Near Permit 0.11 Acres of Commercial Land Offered at $2,788,906 CAD in Miami, FL 33127
Investment Highlights
- Plans submitted for 43 units (42 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
- Permit ready prior to closing.
- Near 2 metro stations 4-5 blocks north and south of site for TOD status
- Only $44,000/door land cost
Executive Summary
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per AC (CAD) |
|---|---|---|
| Gross Rental Income |
$1,587,749
|
$13,866,804.62
|
| Other Income |
$21,022
|
$183,597.39
|
| Vacancy Loss |
$63,510
|
$554,672.18
|
| Effective Gross Income |
$1,545,261
|
$13,495,729.82
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$463,578
|
$4,048,714.05
|
| Net Operating Income |
$1,081,683
|
$9,447,015.77
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,587,749 |
| Annual Per AC | $13,866,804.62 |
| Other Income (CAD) | |
|---|---|
| Annual | $21,022 |
| Annual Per AC | $183,597.39 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $63,510 |
| Annual Per AC | $554,672.18 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,545,261 |
| Annual Per AC | $13,495,729.82 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $463,578 |
| Annual Per AC | $4,048,714.05 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,081,683 |
| Annual Per AC | $9,447,015.77 |
Property Facts
| Price | $2,788,906 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 43 units. Permit ready by March 30th. | ||
| Price | $2,788,906 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 43 units. Permit ready by March 30th. |
1 Lot Available
Lot 1
| Price | $2,788,906 CAD | Lot Size | 0.11 AC |
| Price Per AC | $24,350,447.93 CAD |
| Price | $2,788,906 CAD |
| Price Per AC | $24,350,447.93 CAD |
| Lot Size | 0.11 AC |
Permit Ready by March 30th. West of Wynwood Lot on NW 12th Ave near the Hospital District within 4-5 blocks of 2 metro stations. Live Local plans benefitting from TOD, Live Local & 100% parking reduction for 43 units. Zoned T4-L. 5,000 SF lot.
Description
Permit Ready by March 30th. Develop 43 units in a proposed 8-story apartment building West of Wynwood & blocks to the UM Hospital District in Miami, FL. Permit ready prior to closing. Develop by-right via the ‘Live Local Act’, 42 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. Only $44,000/door land cost.
Property Taxes
| Parcel Number | 01-3126-051-0745 | Improvements Assessment | $0 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Total Assessment | $173,701 CAD (2025) |
Property Taxes
Presented by
1189 NW 26th St - Develop 43 Unit West of Wynwood - Near Permit
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