126 NW 33rd St
Miami, FL 33127 Wynwood

Premier Wynwood Norte Redevelopment & Income Opportunity
Offered at $1,190,000, this strategic asset is positioned in one of Miami’s most active redevelopment corridors. A recent professional appraisal confirms the property is priced below its true market value, offering significant immediate equity. The neighborhood is characterized by rapid growth, where market activity is increasingly driven by land value and the transition from older residential stock to modern, high-density projects.
Multifamily Development Potential
The property’s highest and best use is supported by its aggressive T4-R zoning and Wynwood NRD-2 overlay (Zoning Classification 3900).
• Density & Height: Current regulations allow for the development of up to ±17 residential units with a permitted height of 3 to 4 stories (approximately ±50 feet).
• Market Context: The surrounding area is rapidly transitioning into a hub for multifamily buildings, twinhomes, and modern townhomes, with post-construction values in this micro-market typically ranging between $1,500,000 and $3,000,000.
• Lot Dimensions: The site is a rectangular 5,008 SF lot (50.08' x 100') with access to public water and sanitary sewer, making it a prime candidate for immediate infill development.
Existing High-Yield Income & Turnkey Quality
While plans for redevelopment are finalized, the property serves as a high-performing "cash cow" with turnkey operations already in place.
• Current Structures: The site features two legal units: a 1,402 SF main residence and a recognized 308 SF Accessory Dwelling Unit (ADU).
• Safety & Compliance: Both units are professionally equipped with fire sprinklers, fire alarms, and smoke detectors, ensuring they meet rigorous safety standards for high-occupancy or short-term rental use.
• Financials: The property generates approximately $98,000 in annual gross income, resulting in a Net Operating Income (NOI) of $71,642 and a 6.0% Cap Rate.
Investment Fundamentals
• Opportunity Zone: Located within a federally designated Opportunity Zone, offering significant potential tax advantages for long-term investors.
• Financing: The property’s strong income stream makes it DSCR-qualified with as little as 30% down.
• Location: Situated steps from Wynwood Walls, Midtown, and the Design District, this lot is at the epicenter of Miami’s most dynamic arts and entertainment district.

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Analogy for Understanding: Think of this property as a skyscraper in a box. While it currently looks like a 1920s residence, the appraisal and T4-R zoning act as the blueprints and the permission slip to "unpack" the land's potential, transforming a single-family lot into a 17-unit residential complex in one of the fastest-growing neighborhoods in the country.