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118 NW 24th Street, Miami, FL 33127

$3,350,000

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

Property Type: Land & Docks Lot Size (sq. ft.): 7,500 Status: Active

Current Price: $3,350,000 List Date: 7/20/2026 Last Modified: 9/09/2026

Overview

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 ... (Read more)

Listing Details MLS# A12056960

General Property Information

Property Sub Type: Unimproved Land
Lot Size Acres: 0.17
Lot Size Square Feet: 7500
Lot Size Dimensions: 7500
Lot Depth: 150
Lot Frontage: 50
LP/SqFt: 446.67

Property Features

Comprehensive Plan Use: Central Urban; Industrial; Urban Commerce Current Use: Commercial; Other Environmental Audit: None Location of Property: Central Business District; City Location Possession: Negotiable Sewer: Public Sewer Special Information: City Jurisdiction Trees: None Utilities: Cable Available; Electricity Available; Natural Gas Available; Phone Available; Sewer Available; Water Available; Trash Removal Road Frontage Type: County Road; Public Road Road Responsibility: Public Maintained Road Water Source: Public Showing Requirements: Call Listing Agent Acreage Description: 1/2 To Less Than 1 Acre Lot; 1 To Less Than 2 Acre Lot; 2 To Less Than 3 Acre Lot

Contract Information

Comp Sale YN: No
Original List Price: 3390000
LP/Acre: 19476744.19
LP/Frontage: 67000

Location and Legal

Country: United States
County Or Parish: Miami-Dade
County Parish Name: Miami-Dade
Street Number: 118
Street Direction Prefix: NW
Street Name: 24th
Street Suffix: Street
City Name: Miami
Municipal Code: Yes
State Or Province: FL
Postal Code: 33127
Postal Code +4: 4458
Postal Zip: 33127
Subdivision Name: MARKS SUB
Area: 2310
Elementary School: Paul Laurence Dunbar K-8
Middle Or Junior School: Jose De Diego
High School: Booker T. Washington
Parcel Number: 0131250370420
Subdivision Number: 37
Zoning: 6101
Flood Zone: X

Financial Information

Tax Year: 2025
Tax Annual Amount: 56717
Tax Legal Description: 25 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 4

Status Change Information

Major Change Timestamp: 2026-08-06T21:10:43Z
Major Change Type: Price Reduced
Price Change Timestamp: 2026-08-06T21:10:43Z
Status Change Date: 2026-07-21

More Information

Income and Expenses

Gross Scheduled Income: 153000
Inc/Exp Statement Period: 12
Insurance Expense: 1765
Other Expense: 12965
Real Estate Taxes: 56717

Price Calculations

Current Price To SqFt: 447.12

Section Details

Parcel Number MLX: 0420

Originating Details

Originating System Key: 534225708
Originating System ID: M00000151

Listing Office: IRG

Last Updated: September - 09 - 2026

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2026 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

118 NW 24th Street, Miami, FL 33127 (MLS# A12056960)