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118 NW 24th St - Multi-family 0.17 Acres of Residential Land Offered at $3,890,000 in Miami, FL 33127
INVESTMENT HIGHLIGHTS
- Covered Land Play with In-Place Multifamily Income in the Heart of Wynwood
- Strategically land banking for future vertical development.
- Offers a unique opportunity to generate immediate cash flow
EXECUTIVE SUMMARY
Gridline Properties is proud to present 118 NW 24th Street—an exceptional covered land investment
located in the urban core of Wynwood, one of Miami’s most transformative neighborhoods. Situated on a
7,500 SF lot, the property is improved with a 2,620 SF multifamily structure configured into eight residential
units, currently producing stable in-place income.
With flexible T5-O zoning, this site offers a unique opportunity to generate immediate cash flow while
strategically land banking for future vertical development. As Wynwood continues to mature with
new hospitality, residential, and commercial developments, 118 NW 24th Street is ideally positioned
for future repositioning or redevelopment up to five stories, with a mix of residential, retail, or short-term
rental uses.
This is a rare chance to control an income-generating property on one of the most coveted corridors in the
neighborhood—within walking distance to Wynwood Walls, Zak the Baker, and dozens of cultural, culinary,
and nightlife institutions.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
PROPERTY FACTS
| Price | $3,890,000 | Property Subtype | Residential |
| Sale Type | Investment or Owner User | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.17 AC |
| Property Type | Land | ||
| Zoning | T5-O - MIX USE COMMERCIAL | ||
| Price | $3,890,000 |
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 0.17 AC |
| Zoning | T5-O - MIX USE COMMERCIAL |
1 LOT AVAILABLE
Lot
| Price | $3,890,000 | Lot Size | 0.17 AC |
| Price Per AC | $22,593,160.49 |
| Price | $3,890,000 |
| Price Per AC | $22,593,160.49 |
| Lot Size | 0.17 AC |
Covered Land Play with In-Place Multifamily Income in the Heart of Wynwood
DESCRIPTION
Covered Land Play with In-Place Multifamily Income in the Heart of Wynwood Gridline Properties is proud to present 118 NW 24th Street—an exceptional covered land investment located in the urban core of Wynwood, one of Miami’s most transformative neighborhoods. Situated on a 7,500 SF lot, the property is improved with a 2,620 SF multifamily structure configured into eight residential units, currently producing stable in-place income. With flexible T5-O zoning, this site offers a unique opportunity to generate immediate cash flow while strategically land banking for future vertical development. As Wynwood continues to mature with new hospitality, residential, and commercial developments, 118 NW 24th Street is ideally positioned for future repositioning or redevelopment up to five stories, with a mix of residential, retail, or short-term rental uses. This is a rare chance to control an income-generating property on one of the most coveted corridors in the neighborhood—within walking distance to Wynwood Walls, Zak the Baker, and dozens of cultural, culinary, and nightlife institutions.
PROPERTY TAXES
| Parcel Number | 01-3125-037-0420 | Total Assessment | $2,759,637 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) |
| Improvements Assessment | $0 (2025) | Tax Year | 2023 |
PROPERTY TAXES
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118 NW 24th St - Multi-family
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