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347 NW 31st St - 24-Unit Dev Site | (Income in Place) 0.17 Acres of Commercial Land Offered at $1,350,000 in Miami, FL 33127
Investment Highlights
- By-right potential for 24 units with no parking
- Provides holding income while entitlements and design are completed
Executive Summary
Currently classified by the appraiser as a single-family home but configured as two residential units, providing interim income while plans, permits, or financing are finalized. The property is now fully leased, providing immediate in-place income and a true covered land play - currently generating $6,700/month
The site allows for up to 24 residential units across three stories with no parking, a highly desirable entitlement that significantly reduces construction costs, eliminates garage inefficiencies, and improves project yield.
An ideal opportunity for a developer seeking a proven no-parking micro-density play in Wynwood Norte with strong comparables, near-term income, and a clear development narrative.
Financial Summary (Actual - 2025) 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 |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) 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 | $99,999 |
| Annual Per AC | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
1 Lot Available
Lot
| Price | $1,350,000 | Lot Size | 0.17 AC |
| Price Per AC | $8,167,512.66 |
| Price | $1,350,000 |
| Price Per AC | $8,167,512.66 |
| Lot Size | 0.17 AC |
Description
Seller financing may be considered with a minimum of 50% down, offering developers flexibility in structuring capital, reducing upfront equity, and improving early-stage IRR. Strong precedent: a 24-unit, no-parking project is currently under construction at 315 NW 32 St, and another 24-unit no-parking condo project was successfully completed at 3422 NW 5 Ave Wynwood Norte sits at the crossroads of Wynwood, Midtown, and the Design District—providing direct access to Brickell/Downtown employment centers, Midtown Miami retail, and some of the city’s most vibrant dining and cultural hubs.
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347 NW 31st St - 24-Unit Dev Site | (Income in Place)
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