116-118 NW 24th Street offers a rare covered land play in the heart of Miami’s iconic Wynwood Arts District. Featuring eight fully leased studio apartments, this property generates steady in-place income of approximately $12,400 per month, making it a strong holding option while exploring future redevelopment. Zoned T5-O/NRD-1, this 7,500 SF parcel provides flexibility for mid-rise mixed-use projects, capitalizing on Wynwood’s ongoing transformation and high demand for both residential and retail offerings. The property benefits from its proximity to major lifestyle and employment hubs, including the Miami Design District, Midtown, Allapattah, and Downtown Miami, all within minutes. Immediate access to key transportation routes ensures connectivity across Greater Miami, and the neighborhood’s walkability supports its thriving cultural, culinary, and retail environment. Investors can leverage Wynwood’s upward trajectory for appreciation while benefiting from dependable short-term cash flow. This is a compelling opportunity to control an income-producing asset with significant redevelopment potential in one of Miami’s most dynamic corridors.