Active
244 NW 34th St
Miami FL, 33127
$2,400,000
$439.88 per sqft
Active
5,456 sqft
Commercial
Built in 1925
This 8-unit multifamily building in Miami's trendy Wynwood Norte offers a unique investment chance for $2.4 million. The location boasts vibrant street art, diverse restaurants, and exciting nightlife, with high-end shops and beaches nearby.
Recent zoning changes by the city allow for significantly denser development, making the property highly attractive for potential future expansion. Additionally, the building offers immediate returns with a 5.19% cap rate and the potential for even higher returns (6.50%) based on projected rents.
Whether you choose to keep the current setup or explore redevelopment opportunities, this property positions you to capitalize on Wynwood Norte's booming cultural and entertainment scene.
A11546009
MLSⓇ ID
February 28, 2024
Listed
May 9, 2024
Updated
Map
244 NW 34th St
Miami FL, 33127
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.11 Acres
Other Property Details
Taxes
$17,997
Tax Frequency
Annually
Days on Market
8
Garage
No
View
No
County
Miami-Dade County
Pool
No
Zoning
3900
Buyer Agency Compensation
2%
Listed by: Fausto Commercial Realty Consultants Inc
Listing Contact: 305-510-6627
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Data last updated 4:41 AM UTC, 5/9/2024.