Rare stabilized office condo investment in the heart of Miami's Wynwood/Edgewater corridor. Unit #312 at Gallery Art Condominium offers investors a turn-key, income-producing asset with zero lease-up risk — the property is fully leased to an established office tenant at $2,900/month with a 5-year term commencing March 1, 2026 and expiring February 28, 2031.
The lease includes 4% annual rent escalations, growing gross rent from $34,800 in Year 1 to over $40,700 by Year 5. Year 1 Net Operating Income is approximately $21,115, representing a 6.4% cap rate on the listed price of $330,000. Operating expenses include a modest condo fee, property tax, and management fee — all currently stable and capped.
Strategically located at 333 NE 24th Street, the property sits at the intersection of Wynwood and Edgewater — two of Miami's most in-demand submarkets driven by tech companies, design firms, and creative agencies. The Gallery Art Condominium building offers a design-forward environment that consistently attracts quality, long-term tenants.
Following Florida's elimination of the Business Rent Tax (effective June 2024), 100% of rent collected is free of state sales tax — a meaningful structural advantage for cash flow. The unit includes one dedicated parking space and is zoned exclusively for office use. An exceptional opportunity for private investors, family offices, or 1031 exchange buyers seeking reliable, growing income in a supply-constrained Miami submarket.