2830 5Th AveMiami, FL 33127

This exceptional 17,160 square foot lot, located at 2830 NW 5th Avenue in Miami's vibrant Wynwood neighborhood, presents a remarkable redevelopment opportunity. Currently vacant, the property boasts a 14,000 square foot building and is zoned T6-8 O NRD-1, allowing for a wide range of uses, including residential, hotel, office, and retail. With a permitted zoning that allows for up to 12 stories with bonuses, the site offers significant potential for a high-density mixed-use development. The impressive 164,736 square feet of buildable floor area (with bonuses) allows for a project of substantial scale. The asking price is $11,900,000, with a pro-forma cap rate of 9.24% and a pro-forma NOI of $1,100,000. This value-add investment presents a unique chance to capitalize on Wynwood's thriving market and create a landmark development. The by-right residential density is 150 units per acre, with a maximum of 225 units per acre permitted via bonus, equating to 89 units/177 keys. The property's location along NW 5th Avenue offers excellent visibility and accessibility. This is an exceptional opportunity for adaptive reuse or redevelopment in one of Miami's most sought-after neighborhoods. The price per square foot is $850.