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    227 33Rd St Miami, FL 33127

    For Sale
    $1,150,000

    17-Unit Apartment Building, Prime Location

    Property size:
    5,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional 5,000 square foot multifamily property at 227 NW 33rd Street in Miami, Florida, presents a compelling development opportunity. Currently configured as a 17-unit apartment building, this property sits on a 5,000 square foot lot and is zoned T4-R, offering significant potential for expansion and redevelopment. The asking price is $1,150,000. Located in the vibrant Wynwood Norte neighborhood, this location benefits from its proximity to the Design District and Shops at Midtown Miami, ensuring high demand and strong rental potential. The property is situated within a City of Miami-approved Neighborhood Revitalization District (NRD-2), providing increased flexibility for development, allowing for the addition of multifamily units and other compatible commercial uses. This advantageous zoning, combined with the potential to build up to four stories, depending on the square footage per unit, makes this a truly unique investment opportunity. The property's location also benefits from the Florida 'Live Local Act', which may offer additional advantages. This is an ideal opportunity for investors seeking to capitalize on the thriving Miami real estate market and the dynamic Wynwood Norte area. The property's existing structure provides a solid foundation for immediate income generation while offering significant upside potential through redevelopment. This is a rare chance to acquire a well-positioned asset in a rapidly appreciating area.

    Property Features for 227 33Rd St

    General Information

    Property type
    Multifamily properties
    Square Feet
    5,000 SF

    Building Details

    Units
    17

    HighLights

    • Exceptional development opportunity in Wynwood Norte, Miami.
    • Prime location near the Design District and Shops at Midtown Miami.
    • Potential to build 17+ units, depending on unit size.
    • Located in a City of Miami‑approved Neighborhood Revitalization District (NRD‑2).
    • Flexible zoning allows for multifamily and commercial uses.
    • Eligible for benefits under the Florida 'Live Local Act'.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Food Market Daycare Center Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1999172
    Latitude
    25.8074952

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    FAQs

    What type of property is this?
    Multifamily property - 17-Unit Apartment Building, Prime Location
    Where is this multifamily property located?
    The property is located at 227 33Rd St Miami, FL.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: Exceptional development opportunity in Wynwood Norte, Miami.; Prime location near the Design District and Shops at Midtown Miami.; Potential to build 17+ units, depending on unit size.
    Request Owner's contact information
    227 33Rd 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
    227 33Rd St Miami, FL 33127
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