Wynwood Norte Triplex For
145 Northwest 32nd Street Miami, FL 33127
145 Northwest 32nd Street, Miami, FL, 33127
$890,000
For Sale
$890,000
Legal triplex in Wynwood Norte, T4 zoning, development potential.
Property Size1,788 SF
Price / SF$497.76
Days on Market400
Property Features for 145 Northwest 32nd Street
General Information
- Standard status
- Active
- Size
- 1,788 SF
- Property subtype
- Residential Income / Triplex
Building Details
- Year Built
- 1925
Listing Agency
Grand Realty of America, Corp.
(305) 931-7878
Listed by
Angel Cabrera · License #3175102
(305) 931-7878
Source
Compass
Added: Jun 13, 2025 Checked: Jul 17 at 5:18 am
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 Grand Realty of America, Corp.
Investment Insights
Based on property information with market context.
Located in the Wynwood Norte area, this legal triplex offers a T4 zoning designation. The property features three units: a 2-bedroom/1-bathroom unit and two 1-bedroom/1-bathroom units. Each unit has a separate electric meter. The property is located minutes walking distance to Wynwood, Midtown, and the Design District. Situated on 32nd Street, the 'PLAY STREET' in Wynwood Norte, according to the city's Wynwood Norte community vision plan. The City of Miami has approved amendments to the Wynwood Norte Neighborhood Revitalization District (NRD-2) to maximize building. The property, with a size of 1788 square feet, is being sold AS-IS for land value and needs TLC. It can be renovated and used as 3 units in Airbnb for great returns OR build a 15-units multifamily with no parking restrictions.
Key Highlights
- T4 Zoning allows for building a 15‑unit multifamily with no parking restrictions.
- Legal Triplex in the Wynwood Norte area.
- Prime location: Minutes walking distance to Wynwood, Midtown, and the Design District.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.7k | $30.60 |
| − Vacancy | −$3.5k | −$1.95 |
| EGI | $51.2k | $28.65 |
| − OpEx | −$15.4k | −$8.60 |
| NOI | $35.9k | $20.06 |
1,788 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$512.3K
$448.2K – $597.7K
NOI $35,859 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$471.9K
$412.9K – $550.5K
NOI $33,030 @ 7.0% cap · market cap 3.71%
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,484 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Legal triplex in Wynwood Norte, T4 zoning, development potential.
Where is this triplex located?
The property is located at 145 Northwest 32nd Street Miami, FL.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: T4 Zoning allows for building a 15‑unit multifamily with no parking restrictions.; Legal Triplex in the Wynwood Norte area.; Prime location: Minutes walking distance to Wynwood, Midtown, and the Design District.
