$1,175,000

244 32nd St, Miami, FL 33127

Living area
1,800 ft²
Price per ft²
$653 / ft²
Year built
1937
On market
145 days on market
MLS #
A12010516

Wynwood Norte | Covered Land Play — 24-Unit By-Right Development with Income In Place A rare chance to enter one of Miami's hottest corridors with cash flow from day one and a clear path to 24 units — no variances, no parking, just execute. The existing ±2,000 SF triplex generates $4,000/month ($34,200 NOI), with tenants covering utilities and maintenance — keeping carry costs low while you permit and design. Zoned T4-R within the NRD-2 overlay, the site allows up to 150 units/acre by right, with zero parking requirements and zero variances needed — multifamily or fee-simple townhomes, your call. Just west of Midtown Miami and the Design District, Wynwood Norte sits in one of South Florida's most active development pipelines — 6,000+ units and 2M+ SF of office planned nearby. Easy access to I-95, Wynwood, Edgewater, Downtown, and Miami Beach. Our team has closed 5 sites in Wynwood Norte and can support you on design, underwriting, entitlements, and introductions to lenders, architects, and builders who know this market. Income in place. Simple zoning. No parking headaches. No variance risk. Just execute. DO NOT DISTURB TENANTS — Showings by appointment only.

The MiamiLi Read

The lines below are derived automatically from this listing’s own data and the area’s recorded deed transfers. They are not a personal opinion or investment advice.

  • Price per square footThe asking price per ft² on this listing is $653. The median for recorded sales in the same ZIP codes is $901/ft² — putting it 28% below the median.
  • Position in the area’s price distributionThe asking price is $1,175,000; the median of recorded sales in the area is $1,200,000 (936 sales). On raw price that is close to the median — this line does NOT adjust for property type or size.

How to read this comparison: the figure on the left is an asking price, while the one on the right is a closed sale median — the two are not the same thing, and the room to negotiate sits inside that gap. The median covers every property type and size in those ZIP codes; it carries no adjustment for a single listing’s floor, view, age or finishes. This box is not an appraisal.

Scope: ZIP codes 33127, 33137 · arm’s-length sales recorded by the Miami-Dade County Property Appraiser.

Monthly mortgage payment

Estimated monthly loan payment based on this listing's price. Adjust the down payment, rate and term to match your own terms.

30%$352,500
Term

6.95% — Freddie Mac PMMS (FRED) current mortgage rates, 30-year fixed, conforming. Priced September 17, 2026.

Estimated monthly payment$5,445
Loan amount
$822,500
Total interest over the term
$1,137,528
Total repaid
$1,960,028

Principal and interest only; property tax, insurance and HOA dues are NOT included. This is not a binding offer.

Fausto Commercial Realty Consultants Inc

Listing data provided by the Southeast Florida MLS (MIAMI REALTORS®) IDX feed. Copyright Southeast Florida Multiple Listing Service © 2026. Accuracy of listing information is not guaranteed. Listing information is provided for personal consumer, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited.

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