Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Miami Land Ready For Development Title is generated by Realmo AI

    1189 NW 26 St, Miami, FL 33127

    View on Map
    Claim this Listing
    For Sale
    $1,990,000

    Commercial - Miami, FL

    Lot size:
    0.11 Acres
    Added:
    Jan 27, 2026
    Days on Market:
    107
    Last Refresh:
    May 14 at 7:06 am

    Property Features for 1189 NW 26 St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    3901
    Standard status
    Active
    APN
    01-31-26-051-0745
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3326

    Utilities

    Water source
    Public

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Brian Carter PA

    Listing agent Brian Carter PA License #3022095

    Listing office Douglas Elliman 5555 Biscayne Blvd, Palm Beach, FL

    Listing date Jan 27, 2026

    MLS# A11928327 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Permit ready before June 30th for a 9‑story, 49‑unit apartment building.
    • Develop by‑right via the ‘Live Local Act’ with 48 residential units and one commercial/office unit.
    • Located in a Transit Oriented Development (TOD) Area with zero parking requirements, offering cost savings.
    • Potential for over $1.1 million in annual proforma revenue when developed and stabilized.
    • Located west of Wynwood and blocks from the UM Hospital District in Miami, FL.
    • Blocks from two metro‑stations along NW 12th Ave.

    Overview

    This commercial land in Miami, Florida, offers the opportunity to develop 49 units in a 9-story apartment building. Located west of Wynwood and blocks from the UM Hospital District, the site is permit-ready before June 30th. Development is by-right via the ‘Live Local Act,’ allowing for 48 residential units plus one commercial/office space. Situated in a Transit Oriented Development (TOD) Area, the location benefits from zero parking requirements, offering cost savings. The site is conveniently located within blocks of two metro stations along NW 12th Ave. The property has the potential for over $1.1 million in annual proforma revenue once developed and stabilized. Plans are in process on the 2nd round of submissions. The lot size is 0.1148 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.215004
    Latitude
    25.80115

    Nearby Similar for Sale

    • $1,000,000
      4,012 SF

      Miami Mixed-Use Investment Opportunity

      Fully occupied mixed-use property with income and upside potential.
      2618 NW 103rd St, Miami, FL 33147
      View Details
    • $4,000,000
      5,458 SF

      Miami Riverfront Mixed-Use Opportunity

      Corner commercial property with redevelopment potential in Miami's River corridor.
      3300 NW South River Dr, Miami, FL 33142
      View Details
    • $11,000,000
      12,406 SF

      Miami River Commercial Opportunity

      Rare mixed-use property near Miami River, ideal for various businesses.
      3326 NW South River Dr, Miami, FL 33142
      View Details
    • $4,700,000
      3,350 SF

      Freestanding Commercial Building on 8th

      Renovated mixed-use building on a high-visibility corner lot.
      7101 SW 8th St, Miami, FL 33144
      View Details
    • $2,500,000
      6,088 SF

      Miami Office Buildings with Redevelopment Potential

      Two office buildings with redevelopment potential in Miami, Florida.
      3288 NW 36th St, Miami, FL 33142
      View Details
    • $18,500,000
      19,650 SF

      Wynwood Assemblage with Upside Potential

      Three-parcel assemblage near Wynwood's Art & Entertainment District.
      2010,2014,2020 NW Miami Ct, Miami, FL 33127
      View Details
    • $429,900

      Miami Warehouse/Flex Industrial Unit

      Well-maintained warehouse/flex unit in Miami's Airport West submarket.
      7311 NW 12th St, Miami, FL 33126
      View Details
    • $949,000
      2,146 SF

      Brickell Office Suite For Sale

      Move-in ready office suite in the heart of Brickell.
      1200 Brickell Ave, Miami, FL 33131
      View Details
    • $1,200,000
      2,723 SF

      Miami Commercial Building For Sale

      Commercial building with flexible zoning in a prime Miami location.
      2112 NW 36th St, Miami, FL 33142
      View Details
    • $500,000
      1,626 SF

      Operating Supermarket on High-Traffic Corner

      Income-producing supermarket on a high-visibility corner lot.
      1540 SW 22nd Ave, Miami, FL 33145
      View Details
    • $1,995,000
      6,121 SF

      Miami Warehouse Condo For Sale

      Corner warehouse condo near Tamiami Airport and Amazon Distribution Center.
      13275 SW 136th St, Miami, FL 33186
      View Details
    • $1,350,000
      4,040 SF

      Miami Commercial Corner Lot Opportunity

      Established auto repair business and property for sale in Miami.
      11070 NW 17th Ave, Miami, FL 33167
      View Details

    FAQs

    What type of property is this?
    Commercial land - Permit-ready land for 49 units near Wynwood and UM Hospital.
    Where is this commercial land located?
    The property is located at 1189 NW 26 St Miami, FL.
    What is the asking price?
    The asking price for this property is $1,990,000.
    What are key features of this property?
    This property features: Permit ready before June 30th for a **9‑story, 49‑unit apartment building.**; Develop by‑right via the ‘Live Local Act’ with 48 residential units and one commercial/office unit.; Located in a Transit Oriented Development (TOD) Area with zero parking requirements, offering cost savings.
    (305) 695-6300
    We can help!
    Listing Contact
    Brian Carter PA
    Real Estate License ID: 3022095
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1189 NW 26 St, Miami, FL 33127
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!