118 NW 24th Street, Miami, FL 33127

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.

Listing Status:

Active

Date Added:

July 20, 2026

Data Last Updated:

August 6, 2026 at 5:19AM

Listing Office:

IRG : 305-507-5546

Listing Agent:

Cuindney D. Mantilla : 203-508-2407

MLS ID:

A12056960

Location

• Road/Access: County RoadPublic Road
• Originating MLS: BEACH_MIAMI
• County: Miami-Dade

Lot

• Zoning: 610125 53 41 MARKS SUB PB 1-28 LOT 16 BLK 2 LOT SIZE 7500 SQ FT 73R-256923 OR 21083-4544 0901 4 COC 26485-4056 07 2008 40131250370420
• Current Use: CommercialOther

Utilities

• Utilities: Cable AvailableElectricity AvailableNatural Gas AvailablePhone AvailableSewer AvailableTrash CollectionWater Available
• Water: Public
• Sewer: Public Sewer

Financial

• Source: BEACH_MIAMI