126 NW 33rd St 0.11 Acres of Commercial Land Offered at $1,190,000 in Miami, FL 33127

THE WYNWOOD INVESTMENT OPPORTUNITY
Offered at $1,190,000, this property represents a rare "buy-and-hold" or "develop-now" asset in the heart of Wynwood Norte. A recent professional appraisal confirms that the property is priced below true market value, providing instant equity for the savvy investor.
This is an Arm’s Length transaction for a Fee Simple interest in a 5,008 SF lot that currently functions as a turnkey, high-performing short-term rental. Whether you are looking for a secure 1031 Exchange vehicle or a high-density redevelopment site, this property offers the best of both worlds.
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1. STRATEGIC LOCATION & MARKET DYNAMICS
The property is situated in the Wynwood Norte active redevelopment corridor, a "Rapid Growth" area where older residential stock is being aggressively replaced by modern infill, townhomes, and multifamily buildings.
• Prime Proximity: Located steps from Wynwood Walls, Midtown, and the Design District.
• Opportunity Zone Advantage: Positioned within a federally designated Opportunity Zone, offering significant tax deferral and elimination benefits for long-term capital gains.
• Market Upside: After refurbishment or new construction, property values in this specific micro-market typically range between $1,500,000 and $3,000,000.
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2. UNRIVALED DEVELOPMENT POTENTIAL
The true value of this asset lies in its underlying land fundamentals and aggressive zoning.
• Zoning Classification: Zoned T4-R under the Wynwood NRD-2 overlay (Zoning 3900).
• High Density: The current regulations allow for a high-density residential build-out of up to ±17 residential units.
• Vertical Expansion: Permitted heights reach 3 to 4 stories (approximately ±50 feet), ideal for multifamily housing, boutique live-work spaces, or luxury townhomes.
• Lot Specifications: A perfectly rectangular 5,008 SF lot (50.08' x 100') with full access to municipal water and public sanitary sewer systems.
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3. IMMEDIATE INCOME: THE "CASH COW" STRATEGY
Unlike vacant lots, this property pays for its own carrying costs while you secure your development permits.
• Annual Gross Income: Generates approximately $98,000 - $100,000 per year as a turnkey Airbnb.
• Net Operating Income (NOI): Approximately $71,642/year after operating expenses, reflecting a 6.0% Cap Rate—significantly higher than typical land-banking plays.
• Dual-Structure Utility: The site includes a 1,402 SF main residence (4BD/3BA) and a 308 SF legal Accessory Dwelling Unit (ADU), providing flexibility for multiple rental streams.
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4. ASSET QUALITY & TURNKEY FEATURES
The property has been meticulously maintained and upgraded to meet professional short-term rental standards.
• Safety Systems: Both structures are fully equipped with fire sprinklers, fire alarms, and smoke detectors, ensuring compliance and guest safety.
• Condition: Features ceramic flooring, built-in cabinetry, an entrance foyer, and a full suite of modern appliances including a dishwasher, microwave, and washer/dryer.
• Exterior: The lot features professional lighting, fruit trees, and a barrel roof, maintaining its historic 1924 charm while operating with modern efficiency.
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5. FINANCING & INVESTMENT STRUCTURE
This property is uniquely positioned to qualify for various professional financing paths.
• DSCR Financing: Due to its strong income-to-debt ratio, the property is DSCR-qualified with as little as 30% down.
• 1031 Exchange Ready: The "Income + Redevelopment" nature of this asset makes it a perfect replacement property for investors looking to defer taxes while moving capital into a high-appreciation zone.
• Appraised Value: The sales comparison approach in the recent appraisal supports a value well above the listing price, using comparable sales in the area that reflect the ongoing transition to higher-density land use.
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CONCLUSION
126 NW 33rd St is more than just a house; it is a strategic land acquisition with a built-in revenue stream. In a market where land is becoming increasingly scarce, this 5,008 SF lot offers a protected entry point into the Wynwood expansion.
Key Takeaways for your Portfolio:
1. Equity on Day 1: Priced below professional appraisal.
2. Zero Carry Cost: $98K income covers debt and expenses.
3. Future Jackpot: ±17 unit development potential under T4-R zoning.
Analogy for the Investor: Buying this property is like purchasing a fully occupied apartment building's foundation. You are collecting rent from the small structures currently on top, but you own the legal right to "uncork" the full potential of the land and build 17 units whenever the market—or your timeline—is ready.