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1189 NW 26th St - Develop 49 Unit West of Wynwood 0.11 Acres of Commercial Land Offered at $1,990,000 in Miami, FL 33127

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Investment Highlights

Plans submitted for 49 units (48 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 by March 30th.
Near 2 metro stations 4-5 blocks north and south of site for TOD status
Only $42,000/door land cost

Executive Summary

Permit Ready by March 30th. Develop 49 units in a proposed 9-story apartment building West of Wynwood & blocks to the UM Hospital District in Miami, FL. Plans are in process and are on the 2nd round of submission with the City of Miami. Develop by-right via the ‘Live Local Act’, 48 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. Plans in process on 2nd round of submissions. Only $42,000/door land cost.

OM - West of Wynwood 49 Unit Development Site 1189 NW 26 St 2026

Property Tax Card 1189 NW 26th St

Survey 1189 NW 26th Street LOT 25_signed

Financial Summary (Pro Forma - 2026)	Annual	Annual Per AC
Gross Rental Income	$1,132,925	$9,894,541.48
Other Income	$15,000	$131,004.37
Vacancy Loss	$45,317	$395,781.66
Effective Gross Income	$1,102,608	$9,629,764.19
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$330,782	$2,888,925.76
Net Operating Income	$771,826	$6,740,838.43

Financial Summary (Pro Forma - 2026)

Gross Rental Income
Annual	$1,132,925
Annual Per AC	$9,894,541.48

Other Income
Annual	$15,000
Annual Per AC	$131,004.37

Vacancy Loss
Annual	$45,317
Annual Per AC	$395,781.66

Effective Gross Income
Annual	$1,102,608
Annual Per AC	$9,629,764.19

Taxes
Annual	-
Annual Per AC	-

Operating Expenses
Annual	-
Annual Per AC	-

Total Expenses
Annual	$330,782
Annual Per AC	$2,888,925.76

Net Operating Income
Annual	$771,826
Annual Per AC	$6,740,838.43

Property Facts

Price	$1,990,000	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 49 units. Permit ready by March 30th.

Price	$1,990,000
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 49 units. Permit ready by March 30th.

1 Lot Available

Lot 1

Price	$1,990,000	Lot Size	0.11 AC
Price Per AC	$17,375,056.75

Price	$1,990,000
Price Per AC	$17,375,056.75
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 49 units. Zoned T4-L. 5,000 SF lot.