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    97 27Th St Miami, FL 33127

    Sponsored
    For Sale
    $4,250,000

    Prime Wynwood location, high development potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional 01-3125-029-0790 Miami-Dade County property, located at 97 NW 27th St, Miami, FL 33127, presents a unique opportunity for developers seeking a foothold in Wynwood's thriving Northeast Quadrant. Zoned 6107, this industrial land parcel offers the potential to develop up to five stories, accommodating 39 residential units or 78 hotel/short-term rental units. Currently improved with a ten-unit multi-family building generating income from short-term leases, this corner lot provides immediate cash flow. The property's location within Wynwood's NRD-1 zoning overlay allows for a variety of development options, aligning with the success of neighboring projects by prominent developers. An adjacent property is also available for purchase, offering the potential to assemble a significantly larger 16,950 square foot site. This expanded footprint would provide frontage on NW 1st Avenue, capitalizing on the planned Wynwood Woonerf program and its potential for vibrant retail opportunities. The site benefits from convenient access to major transportation arteries and public transit. Financial details are available upon request. This is an exceptional opportunity to capitalize on Wynwood's dynamic growth.

    Property Features for 97 27Th St

    General Information

    Property type
    Land

    HighLights

    • Prime Wynwood corner lot in a high‑growth area, ideal for developers.
    • Wynwood NRD‑1 zoning allows for development alongside major players like Related Group and Lennar.
    • Develop up to 5 stories with 39 residential units or 78 hotel/short‑term rentals.
    • Currently houses a 10‑unit multi‑family building with short‑term leases; financials available upon request.
    • Adjacent property also available for sale, offering potential assemblage up to 16,950 SF.
    • Excellent retail potential on NW 1st Avenue, benefiting from the proposed Wynwood Woonerf program.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Dental Office Spa & Massage Restaurant Hair Salon Nail Salon Building Supply Pharmacy 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
    -80.1968877
    Latitude
    25.8023882

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    FAQs

    What type of property is this?
    Land - Prime Wynwood location, high development potential.
    Where is this land located?
    The property is located at 97 27Th St Miami, FL.
    What is the asking price?
    The asking price for this property is $4,250,000.
    What are key features of this property?
    This property features: Prime Wynwood corner lot in a high-growth area, ideal for developers.; Wynwood NRD-1 zoning allows for development alongside major players like Related Group and Lennar.; Develop up to 5 stories with 39 residential units or 78 hotel/short-term rentals.
    Request Owner's contact information
    97 27Th 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
    97 27Th St Miami, FL 33127
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