511 & 527 NW 34th Street, Miami FL 33127
Fausto Commercial is pleased to present 511 & 527 NW 34th Street, Miami FL 33127, a land development opportunity in Wynwood Norte. Featuring a 10,390 sq. ft. lot, this property allows for 40 buildable units with no parking requirement as long as the sq. ft. floor area is less than 20,000 sq. ft. This is the new neighborhood rehabilitation district – a zoning overlay district with land use and development standards calibrated to support the needs and priorities of the community, protect the unique character of the neighborhood and implement the Wynwood Norte Community Vision Plan (R-19-0472). For more information, please refer to Wynwood Norte (NRD-2) zoning guidelines. This zoning allows for Short Term rental as well as commercial use. Property also has in-place income at $10,750 gross per month. Net Operating Income is $100,712 for a 4.57% in-place cap rate.