Description
Rare, fully-entitled development site on the fast-densifying western edge of Miami's Wynwood corridor. 1027 NW 29 Street is a ±10,687 SF T4-O parcel that is site-plan approved for an eight-story, mixed-use building with 50 residential units over ground-floor retail - designed by JCD Architect, Inc. with a lobby/leasing area, bike amenity, and a landscaped rooftop with a signature mural. With entitlements already secured, a buyer skips the longest and most uncertain phase of development and moves directly toward permitting and construction - a compelling basis at $1,450,000, roughly $29,000 per approved unit. The approved 120% AMI rent structure supports projected stabilized residential income of approximately $1.5M per year, and T4-O zoning allows a wide range of uses including multifamily, townhomes, live/work, retail, and mixed-use. Major upside: the adjacent lot at 2900 NW 10 Avenue is also for sale - an income-producing 4-plex on a ±13,500 SF corner - allowing a buyer to assemble ±24,187 SF and either phase two projects or combine the parcels to expand the development and add structured parking. Minutes to Wynwood, Midtown, the Design District, Edgewater, and Downtown Miami, with direct I-95 access.
Details
| MLS # | A12073294 |
|---|---|
| Listing Type | For Sale |
| Style | Duplex |
| Sub-Type | Resale |
| Status | Active |
| Year | 1935 |
| Days On Site | 81 |
| Listing Provided By | Fausto Commercial Realty Consultants Inc | Miguel A Fuentes |
Features
| SQ Feet | 1,165 |
|---|---|
| Story(s) | 1 |
| Units | 2 |
| Zoning | 4801 |
Taxes
| Tax Annual Amount | 11440 |
|---|
Area Information
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami |
| Zip Code | 33127 |
| Area | 2310 |
| Community Name | SANTA CLARA SUB |
| Listing VS Median (in SANTA CLARA SUB) | |
Price: $1,495,000 low | high Med: $550,000 sqft: 1,165 low | high Med: 1,584 $ / sqft: $1,283 low | high Med: $347 On site: 81 low | high Med: 74 | |
Market Activity 33127
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Learn More About This Property
| State | FL |
|---|---|
| County | Miami Dade |
| City | Miami |
| Zip Code | 33127 |
| Area | 2310 |
| Community Name | SANTA CLARA SUB |
| Listing VS Median (in SANTA CLARA SUB) | |
Price: $1,495,000 low | high Med: $550,000 sqft: 1,165 low | high Med: 1,584 $ / sqft: $1,283 low | high Med: $347 On site: 81 low | high Med: 74 | |