Mixed-Use Redevelopment
118 NW 24th St Miami, FL 33127
New
For Sale
$3,390,000
Mixed-use development site allows up to 20,000 SF with ground-floor retail or restaurant and residential above.
Lot Size0.17 Acres
Days on Market2
Property Features for 118 NW 24th St
General Information
- Standard status
- Active
- Lot size
- 0.17 Acres
- Property subtype
- Commercial
Listing Agency:
Miami Residential Group
(203) 508-2407
Listed By:
Cuindney Mantilla · License #3325552
(203) 508-2407
Source:
Elliman
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 23 at 5:02AM
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 Miami Residential Group
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
Location Intelligence
Current Use by Public Records
Retail space
FAQs
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 $3,390,000.
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.
