250 NW 24th St - Apartments CONDO FOR SALE


Miami, FL 33127- Wynwood
$5,521,000 USD
786-235-8330
250 NW 24th St, Miami, FL for Sale
$5,521,000 USD
Apartments CONDO - FOR SALE
1/35
null | 5.5% Cap Rate

250 NW 24th St
Miami, FL 33127
Wynwood


HIGHLIGHTS

  • 100% Occupied with 7.88-Year Weighted Average Lease Term
  • Two F&B Tenants in Miami's Premier Arts District
  • 2027 NOI $301,756 in Contractual Base Rent in Place
  • Core Wynwood Location

OVERVIEW

DWNTWN Realty Advisors is pleased to exclusively present for sale 250 NW 24th Street (the "Property"), two fee-simple ground-floor commercial condominium units totaling 3,713 rentable square feet at 250 Wynwood, a six-story luxury residential building at the intersection of NW 24th Street and NW 2nd Avenue in the heart of Miami's Wynwood Arts District. Delivered as new construction within one of the submarket's most architecturally distinctive buildings, the Property occupies a hard-corner retail position on Wynwood's primary pedestrian spine, benefiting from a Walk Score of 96 and direct frontage along the district's highest foot-traffic corridor. The Property is 100% leased on absolute triple net terms to two established food-and-beverage operators, La Birra Bar and Doggi's Arepa Bar, with a weighted average lease term of 7.9 years and no remaining renewal options. La Birra Bar, ranked among the seven best burger restaurants in the world for three consecutive years, operates its flagship U.S. expansion from Commercial Unit CU-1 through July 2033. Doggi's Arepa Bar, five-time winner of Miami New Times' Best Arepas, occupies Commercial Unit CU-2 through June 2034. Both leases carry personal guaranties, contractual annual escalations averaging 2.5% to 3.0%, and full tenant responsibility for operating expenses, real estate taxes, and management fees, producing a truly passive income stream with zero landlord capital or maintenance obligations. Priced at $5,521,000, the offering represents a 5.5% capitalization rate on 2027 contractual net operating income of $301,756, with embedded base rent growth expanding the yield on cost to 7.0% by 2035 without a single lease turnover. Set against Wynwood's 124% residential population growth since 2015, more than 6 million annual visitors, and a structurally supply-constrained retail inventory, the Property offers investors durable, escalating, management-free cash flow secured by proven operators in one of the most visited retail districts in the United States.

FOR SALE DETAILS

PRICE

$5,521,000 USD

PRICE/SF

$1,567 USD /SF

CAP RATE

5.5%

# OF UNITS

1

CONDO SIZE

-

% LEASED

100%

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wynwood NNN Retail Condo Investment

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

31,356 SF

STORIES

6

BUILDING CLASS

B

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

6100

APN/PARCEL ID

01-3125-091-0120,01-3125-091-0130

ASK ABOUT THIS PROPERTY

Tony ArellanoDWNTWN Realty AdvisorsMore Info
786-235-8330

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Tony ArellanoDWNTWN Realty AdvisorsMore Info
786-235-8330

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.