Executive Summary:
Metro 1 Commercial exclusively presents for sale the property located at 2521 NW 1 Ave, Miami, FL (“The Property”), with 20,900 SF of land zoned T5-O & T5-L NRD-1 Zoning, which allows for five-stories on the T5-L portion, and up to 8 stories with bonuses* in the T5-O portion, 108-unit/216-keys, and 150,480 buildable SF*.
This site provides a unique opportunity to develop a mixed-use project with multi-family, condos, hotel, office, and retail in Wynwood, one of the world’s coolest neighborhoods according to Google, Vogue & Forbes.
The Property is ideally located along 25th Street between NW 2 Avenue and N Miami Avenue. The Property benefits from its T5 NRD-1 Miami 21 zoning designation, which allows for a wide variety of permitted uses by right including residential, lodging, commercial, office, civic and educational. The by-right residential density is 150 units per acre with a maximum of 225 units per acre permitted via bonus, which equates to 108 units / 216 keys, and 5 stories by-right.
*T5-L currently undergoing an upzoning under Wynwood’s NRD-1 Overlay
Property Specs:
+ Property Addresses: 2521 NW 1 Ave, Miami, FL | 80 NW 26 St, Miami, FL | 84 NW 26 St, Miami, FL | 81 NW 25 St, Miami, FL
+ Price Guidance: $14,500,000
+ Lot Size: 20,900 SF
+ Use: Mixed-Use Development
+ Zoning: T5-O & T5-L NRD-1
+ Max Stories: 8 Stories*
+ Density (w/Bonuses): 108 units / 216 Keys
+ FLR (w/Bonuses): 150,480 SF*
+ Elegible for Live Local: Allowing for max. height within 1 mile and max. density in local jurisdiction
*T5-L Currently undergoing upzoning under Wynwood’s NRD-1 Overlay
Wynwood:
Today, Wynwood is the most important community of arts and creative businesses in the United States. With over 400+ businesses, 200+ street murals, 30+ eateries, and encompassing over 50 city blocks.
Wynwood is currently undergoing an unprecedented transformation, with a pipeline of over 6,000 residential units, 400 hotel rooms, and 1.6M SF of office space, setting the stage to create the epitome of the live, work, play ecosystem. So far, this transformation has attracted world renowned tech and creative companies like Spotify, Wework, Founder’s Fund, Livenation, as well as popular restaurants like Momosan, Uchi, Pastis, and national and international developers like Related, AMLI, Fifield, Related, The Collective, PMG, Quadrum, and L&L, among others.
With its clearly defined trajectory, Wynwood is poised to become without a doubt United States’ most important epicenter for tech, creative businesses, and an example of urban revitalization around the world. New residential, hotel, and office projects are announced every month, and major infrastructure changes are planned for the district. Some infrastructure proposals include the Wynwood Streetscape Master Plan, and the Brightline commuter station, which would connect Wynwood with Downtown Miami, Fort Lauderdale, West Palm Beach, and Orlando.
JUAN ANDRES NAVA
MANAGING DIRECTOR
954.864.6274
ANAVA@METRO1.COM