Mixed-Use Redevelopment
For Sale
$3,350,000
118 NW 24th St, Miami, FL 33127
Mixed-use development site allows up to 20,000 SF with ground-floor retail or restaurant and residential above.
Property SizeContact for details
Lot Size0.17 Acres
Days on Market50
Property Features for 118 NW 24th St
General Information
Standard status
Active
Lot size
0.17 Acres
Property subtype
Commercial
Zoning
T5-O/NRD-1
Occupancy
100%
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$56,717
Listing Agency:
IRG
Listed By:
Cuindney Mantilla · License #3325552
(305) 400-6393
Source:
Batrare
Added: Jul 20
Changed: Aug 28
Last Checked: Sep 7 at 6:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of IRG
Investment Insights
Based on property information with market context.
This redevelopment land site is sized at 7,500 square feet and is positioned for a mixed-use project. Per the City of Miami Building Department, the site supports construction up to 20,000 square feet with no parking requirement for projects of 20,000 square feet or less. The proposed five-story concept includes 24 residential units above a ground-floor retail or restaurant component ranging from 3,600 to 4,000 square feet.
The property is zoned T5-O/NRD-1. It currently includes eight fully leased studio apartments generating approximately $12,400 per month in in-place income, while offering an opportunity to evaluate future redevelopment.
BikeScore is 71 (very bikeable) and WalkScore is 98 (walker’s paradise), with a transitScore of 51 (good transit), indicating convenient multimodal access for residents and visitors.
The property is zoned T5-O/NRD-1. It currently includes eight fully leased studio apartments generating approximately $12,400 per month in in-place income, while offering an opportunity to evaluate future redevelopment.
BikeScore is 71 (very bikeable) and WalkScore is 98 (walker’s paradise), with a transitScore of 51 (good transit), indicating convenient multimodal access for residents and visitors.
Key Highlights
- 7,500 SF lot with zoning T5‑O/NRD‑1 allowing up to 20,000 SF development (City of Miami Building Department).
- Plan for a five‑story mixed‑use building with 24 residential units above 4,000–3,600 SF ground‑floor retail/restaurant space.
- Ground‑floor commercial can be leased for an NNN (Triple Net) income stream, creating additional rental revenue.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
7,210
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use development site allows up to 20,000 SF with ground-floor retail or restaurant and residential above.
Where is this apartment building located?
The property is located at 118 NW 24th St Miami, FL.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 7,500 SF lot with zoning T5‑O/NRD‑1 allowing up to 20,000 SF development (City of Miami Building Department).; Plan for a five‑story mixed‑use building with 24 residential units above 4,000–3,600 SF ground‑floor retail/restaurant space.; Ground‑floor commercial can be leased for an NNN (Triple Net) income stream, creating additional rental revenue.
