Wynwood Development
2210 NW 1st Ct Miami, FL 33127
16,430 SF lot ideal for mixed-use development.
Type:Land
Property size:
16,430 SFLot size:
0.38 AcresPrice / SF:
$511/SF- Added:
- May 29, 2024
- Days on Market:
- 772
- Last Refresh:
- Jul 5 at 11:15 am
Property Features for 2210 NW 1st Ct
General Information
- Standard status
- Active
- Size
- 16,430 SF
- Lot size
- 0.38 Acres
- Property subtype
- Land
Listing office DWNTWN Realty Advisors (305) 909-7343
Listing date May 29, 2024
Source Crexi
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 DWNTWN Realty Advisors
Investment Insights
Based on property information with market context.
This 16,430 SF lot is currently operating as a parking lot. It is zoned Wynwood T5-O, making it suitable for mixed-use development. The zoning allows for an 8-story building with 57 to 85 multi-family units with bonus options, or 113 to 170 hotel keys. The Live Local Act (LLA) could be utilized to develop affordable housing, potentially increasing the density to 94 units and up to 27 stories. The parking stackers must remain accessible. The site is directly adjacent to the Wynhouse, a 308-unit project currently under construction with delivery expected in Q1 2025. The development site is located two blocks east of NW 2nd Avenue, a main thoroughfare in Wynwood with 8,000 vehicles per day. There are currently 28 development projects in Wynwood, totaling 3,227 residential units, 192 hotel rooms, 662,000 SF of office space, and 361,000 SF of retail space.
Key Highlights
- Wynwood T5‑O zoning allows for mixed‑use development up to 8 stories with potential for multi‑family units or hotel keys.
- Live Local Act (LLA) eligibility allows for increased density up to 27 stories and 94 affordable housing units.
- Located in Wynwood, a rapidly developing area with numerous residential, hotel, office, and retail projects underway.
Local Financial Insights For Retail
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 | $853.7k | $51.96 |
| − Vacancy | −$87.9k | −$5.35 |
| EGI | $765.8k | $46.61 |
| − OpEx | −$229.7k | −$13.98 |
| NOI | $536.0k | $32.63 |
16,430 SF · lease $51.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$7.66M
$6.70M – $8.93M
NOI $536,040 @ 7.0% cap · market cap 6.38%
Second Best
Industrial
$3.15M
$2.76M – $3.68M
NOI $220,731 @ 7.0% cap · market cap 2.63%
Theoretical Best
Specialty Retail
$11.09M
$9.70M – $12.94M
NOI $776,325 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - 16,430 SF lot ideal for mixed-use development.
Where is this commercial land located?
The property is located at 2210 NW 1st Ct Miami, FL.
What is the asking price?
The asking price for this property is $8,400,000.
What are key features of this property?
This property features: Wynwood T5‑O zoning allows for mixed‑use development up to 8 stories with potential for multi‑family units or hotel keys.; Live Local Act (LLA) eligibility allows for increased density up to 27 stories and 94 affordable housing units.; Located in Wynwood, a rapidly developing area with numerous residential, hotel, office, and retail projects underway.
