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287 NW 31st St - 31st St Covered Land Play 0.17 Acres of Commercial Land Offered at $1,275,000 in Miami, FL 33127
Investment Highlights
- Allowed 24 units to be built with no parking requirement
- 35% population growth in Miami from 2010-2022, increasing demand for housing
- South Florida has attracted many businesses to relocate to the area bringing thousands of new jobs to the area
- Wynwood Norte has a huge renter community with over 80% of residents renting apartments or homes.
- Create tastefully designed units in an up and coming neighborhood that is within a 5-minute drive to the trendy neighborhoods of Wynwood, Edgewater an
- Property can be rented during the design, planning, and permitting process, reducing carrying costs and lowering overall development risk.
Executive Summary
7,200 sqft Lot Covered land play in coveted Wynwood Norte, this prime investment T-4R property with NRD-2 Zoning Overlay presents an exceptional chance to build up to 16 units as of right, without parking requirements. Also works as a luxury townhomes site. Strategically located near Wynwood, Midtown, Design District and flanked by the I-95 and I-195. Property currently consists of a single family 3 beds and 1 bath and can generate approximately $3,000/m
Property is within walking distance of many entertainment, retail, hospitality, art galleries, and restaurants, including several Michelin-awarded restaurants. South of Design District and west of Mid-Town, the area is experiencing rapid growth, with hundreds of new developments coming to Wynwood Norte after a rapid expansion of Wynwood, which currently has over 6,000 residential units and 2M SF of office!
Property is within walking distance of many entertainment, retail, hospitality, art galleries, and restaurants, including several Michelin-awarded restaurants. South of Design District and west of Mid-Town, the area is experiencing rapid growth, with hundreds of new developments coming to Wynwood Norte after a rapid expansion of Wynwood, which currently has over 6,000 residential units and 2M SF of office!
Property Facts
| Price | $1,275,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | Redevelopment Project | Total Lot Size | 0.17 AC |
| No. Lots | 1 |
| Price | $1,275,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.17 AC |
1 Lot Available
Lot
| Price | $1,275,000 | Lot Size | 0.17 AC |
| Price Per AC | $7,713,761.96 |
| Price | $1,275,000 |
| Price Per AC | $7,713,761.96 |
| Lot Size | 0.17 AC |
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 01-3125-019-3130 | Improvements Assessment | $95,565 |
| Land Assessment | $900,000 | Total Assessment | $995,565 |
Property Taxes
Parcel Number
01-3125-019-3130
Land Assessment
$900,000
Improvements Assessment
$95,565
Total Assessment
$995,565
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287 NW 31st St - 31st St Covered Land Play
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