29 28Th St Miami, FL 33127

Property Details for 29 28Th St

Property type

Commercial real estate

Description

This exceptional 6,900 square foot commercial land parcel in Miami's vibrant Wynwood neighborhood presents a unique investment opportunity. Located at 29 NW 28th Street, Miami, FL 33127, this property is zoned T5-O NRD-1 and offers the potential for significant development. Currently, full entitlements are being secured for an eight-story mixed-use building, encompassing 35 residential units, a ground floor/mezzanine restaurant, and an activated rooftop lounge. The project has undergone strategic value engineering, resulting in substantial cost savings and an expedited development timeline. This high-end boutique multifamily project will feature activated retail spaces, capitalizing on Wynwood's thriving hospitality market. The zoning allows for operation as traditional long-term rentals or short-term rentals (STRs). The asking price is $4,100,000. This presents a chance to acquire the fee simple interest or participate in a joint venture to develop this property in one of Miami's most iconic and culturally rich areas, surrounded by renowned restaurants, bars, and nightlife. The project's design allows for a maximum height of eight stories with bonuses, offering flexibility and potential for increased density. The current plans include 36 units with bonuses.