251 NW 34th Ter, Miami FL 33127 | Miami-Dade County

251 NW 34th Ter, Miami FL 33127 | Miami-Dade County | A11925609

$1,140,000

Description

Exceptional opportunity to acquire an income-producing duplex in the heart of Wynwood with significant redevelopment potential. Currently fully rented, this property offers immediate cash flow while providing investors and developers the opportunity to capitalize on one of Miami’s fastest-growing neighborhoods. Zoned T4 with the NRD-2 Overlay, the property allows for the development of up to 18 residential units. The neighboring property at 241 NW 34th Terrace allows for up to 13 residential units, creating a unique assemblage opportunity with the potential for a larger-scale development project.

Added advantage: develop without on-site parking by contributing to the applicable parking fund, maximizing flexibility. Near Wynwood, Midtown, Design District, Downtown Miami, and major corridors, offering current income plus long-term upside.

Property Highlights: Short Sale Opportunity, Fully rented duplex with immediate income, T4 Zoning with NRD-2 Overlay, Development potential for up to 18 units, Adjacent to 241 NW 34th Terrace (up to 13 units), Potential assemblage opportunity, No on-site parking required (parking fund contribution applies), Prime Wynwood location, Minutes to Midtown, Design District, Downtown Miami & I-95, Ideal for investors and developers.

Buyer to independently verify zoning, density, development rights, assemblage potential, and parking requirements.

Property Overview

This quadruplex is located at 251 NW 34th Ter in the WYND WOOD PARK subdivision. Built in 1926, the property sits in a neighborhood known for redevelopment potential and is currently fully rented. The listing is for sale. The site is zoned T4 with the NRD-2 Overlay, which allows for the development of up to 18 residential units. This offers immediate cash flow for an investor or the opportunity to develop a larger-scale project. The property is near Wynwood, Midtown, Design District, Downtown Miami, and major corridors. This listing is a short sale. The property includes an added advantage to develop without on-site parking by contributing to the applicable parking fund.

Frequently Asked Questions

What is the zoning designation for this property and what does it allow?

The property is zoned T4 with the NRD-2 Overlay, which allows for the development of up to 18 residential units.

What is the current status of the property's income and occupancy?

The property is fully rented and currently provides immediate income.

Does the property have on-site parking?

The listing notes the advantage of developing without on-site parking by contributing to the applicable parking fund.

What is the year built and total living area of the building?

The building was built in 1926 and has a total living area of 2784 square feet.

What is the listing price of the property?

The property is listed for sale at $1,140,000.

Does the property include an assemblage opportunity with neighboring properties?

The listing notes that the neighboring property at 241 NW 34th Terrace allows for up to 13 residential units, creating a potential assemblage opportunity for a larger-scale development project.