227 33Rd St Miami, FL 33127
- Commercial real estate
- 5,000 SF
Current Use by Public Records
- Commercial real estate
Property Details for 227 33Rd St
- Property size
- 5,000 SF
- Property type
- Commercial real estate
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.1999172
- Latitude
- 25.8074952
