118 NW 24th ST, Miami, FL 33127
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118 NW 24th ST, Miami, FL 33127
118 NW 24th ST, Miami, FL 33127
118 NW 24th ST, Miami, FL 33127
118 NW 24th ST, Miami, FL 33127
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Kevin Deng

Kevin Deng

+1(561) 783-7886
$ 3,375,000
Est. payment /mo
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118 NW 24th ST Miami, FL 33127

7,405 Sqft Lot

UPDATED:

Key Details

Property Type Vacant Land

Sub Type Unimproved Land

Listing Status Active

Purchase Type For Sale

Subdivision Marks Sub

MLS Listing ID A12056960

HOA Y/N No

Annual Tax Amount $56,717

Tax Year 2025

Lot Size 7,405 Sqft

Acres 0.17

Property Sub-Type Unimproved Land

Property Description

7,500 SF lot to Build up to 20,000 SF with no parking requirement, according to the City of Miami Building Department for projects of 20,000 SF or less. The site allows for a five-story mixed-use building featuring 24 residential units above a 4,000-3,600 SF ground-floor retail or restaurant space. The commercial space can be leased to generate a stable NNN (Triple Net) income stream, creating an additional revenue source while maximizing the property's long-term investment potential. This land - multifamily in the heart of Miami's iconic Wynwood Arts District featuring eight fully leased studio apartments generates steady in-place income of approximately $12,400 per month, making it a strong holding option while exploring future redevelopment. Zoned T5-O/NRD-1. The property benefits from its proximity to major lifestyle and employment hubs, including the Miami Design District, Midtown, Allapattah, and Downtown Miami, all within minutes. Immediate access to key transportation routes ensures connectivity across Greater Miami, and the neighborhood's walkability supports its thriving cultural, culinary, and retail environment. Investors can leverage Wynwood's upward trajectory for appreciation while benefiting from dependable short-term cash flow. This is a compelling opportunity to control an income-producing asset with significant redevelopment potential in one of Miami's most dynamic corridors.

Location

State FL

County Miami-dade

Area 2310

Zoning 6101

Interior

Interior Features InteriorFeatures

Fireplace No

Exterior

Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Trash Collection, Water Available

Water Access Desc Public

Present Use Commercial,Other

Road Frontage County Road, Public Road

Building

Lot Description 1-2 Acres, 2-3 Acres, Central Business District, City Lot

Sewer Public Sewer

Water Public

Schools

Elementary Schools Paul Laurence Dunbar K-8

Middle Schools Jose De Diego

High Schools Booker T. Washington

Others

Restrictions City Restrictions

Tax ID 0131250370420

Virtual Tour https://www.propertypanorama.com/instaview/mia/A12056960

BeachesMLS, Inc. (FLR) IDX
Listed by Cuindney D. Mantilla IRG
Kevin Deng

Kevin Deng

Broker Associate | License ID: 3425449

+1(561) 783-7886

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118 NW 24th ST