559 NW 34th St 0.16 Acres of Commercial Land Offered at $1,800,000 in Miami, FL 33127

This exclusive offering presents a rare infill development opportunity in Miami's Wynwood Norte neighborhood—one of the city's fastest-growing urban districts with immediate access to Midtown, Edgewater, the Design District, Brickell, and Miami International Airport.
The 7,150 SF site is zoned T5-O and benefits from plans currently under review with the City of Miami for a 24-unit multifamily development. With the entitlement process already substantially advanced, approvals are anticipated within approximately five months, allowing a buyer to significantly compress the pre-development timeline and focus on breaking ground sooner. Ownership is committed to actively working with the City throughout the remaining review process to help expedite approvals and minimize delays, making this an ideal opportunity for developers seeking a near shovel-ready project.
The building has been thoughtfully designed with an exceptionally efficient layout consisting entirely of 2-bedroom, 2-bathroom units—a highly desirable configuration that appeals to traditional renters while also providing the flexibility to implement a co-living strategy. With each bedroom having access to its own private bathroom, operators can maximize rents and accelerate lease-up. This model has already proven successful in Wynwood, where co-living projects such as i5 Wynwood are reportedly achieving room rents starting at approximately $1,350 per bedroom, supporting strong absorption and attractive revenue potential.
Priced at $1.8 million ($75,000 per unit and approximately $252 per buildable square foot), the property offers compelling fundamentals in a submarket experiencing sustained population growth, increasing rental demand, and continued redevelopment activity. Located minutes from major employment centers, entertainment districts, and transportation infrastructure, the site benefits from exceptional connectivity and long-term appreciation potential.
For developers seeking a near-term groundbreaking opportunity with substantially reduced entitlement risk and multiple leasing strategies, this offering represents a compelling chance to capitalize on one of Miami's most dynamic urban corridors.
Reach out to discuss financing options and for introductions to lenders, architects, and general contractors who have successfully completed projects in the Wynwood Norte area. Whether you're a first-time developer or an experienced operator, we can help connect you with the team needed to move from acquisition to groundbreaking as efficiently as possible.