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    255 NW 32Nd St Miami, FL 33127

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    For Sale
    $1,900,000

    Multifamily property in Wynwood Norte with development potential.

    Lot size:
    0.23 Acres

    Property Features for 255 NW 32Nd St

    General Information

    Lot size
    0.23 Acres

    Building Details

    Year built
    1938

    Source: Dwntwn Realty Advisors LLC Agent Rayza Perez

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Wynwood Multifamily Development Opportunity

    This property features two separate structures situated on a 10,000 square foot lot. The primary structure is a duplex, with each of the top and bottom floors containing a unit with 3 bedrooms and 1 bathroom. There is also an ancillary unit with 3 bedrooms and 2 bathrooms. Each unit is approximately 900 square feet. The property is currently fully occupied, generating a total gross income of $71,820 with rents at $1,995 per month. All rents are month-to-month and considered to be below market value. This property is suitable as a covered land play, offering the opportunity to capitalize on the Wynwood Norte NRD-2 zoning overlay for low-intensity infill development. The site allows for an increased density of 150 dwelling units per acre, which translates to approximately 33 units.
    Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Realty agency Dental Office Spa & Massage Hair Salon Restaurant Nail Salon Building Supply Daycare Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.20073
    Latitude
    25.80677

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    FAQs

    What type of property is this?
    Quadplex - Multifamily property in Wynwood Norte with development potential.
    Where is this quadplex located?
    The property is located at 255 NW 32Nd St Miami, FL.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: - Large 10,000 SF lot.; - Opportunity for low-intensity infill development due to Wynwood Norte NRD-2 zoning overlay with increased density (150 d/U per acre, approximately 33 units).; - Seller financing available at favorable terms.
    (786) 325-9928
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    255 NW 32Nd St Miami, FL 33127
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    Miami, FL 33127
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    Realmo Value Estimation

    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.

    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.

    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
    255 NW 32Nd St Miami, FL 33127
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