333 NE 24th St - Office/Residential CONDO FOR SALE


Miami, FL 33137- Edgewater
$330,000 USD
786-234-4321
333 NE 24th St, Miami, FL for Sale
$330,000 USD
Office/Residential CONDO - FOR SALE
1/20
null | 6.4% Cap Rate

333 NE 24th St
Miami, FL 33137
Edgewater


HIGHLIGHTS

  • EDGEWATER LOCATION NEAR MIDTOWN AND WYNWOOD
  • 10' FROM DOWNTOWN MIAMI
  • OPEN PLAN
  • Fully Leased — Day-1 Cash Flow $2,900/month | $34,800 gross / Year 1
  • 4% Annual Rent Escalations Rent grows to $3,393/mo by Year 5
  • 5-Year Lease Term Mar 1, 2026 through Feb 28, 2031

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$330,000 USD

PRICE/SF

$508 USD /SF

CAP RATE

6.4%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Gallery Art Condominiums

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Loft/Creative Space

TOTAL BUILDING SIZE

294,696 SF

STORIES

18

BUILDING CLASS

B

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

4

LAND DETAILS

LAND ACRES

1.28 AC

LAND SF

55,757 SF

ZONING

C-1, Miami

APN/PARCEL ID

01-3230-087-0010,01-3230-087-0070,01-3230-087-0220,01-3230-087-0270,01-3230-087-0320,01-3230-087-0840,01-3230-087-1350,01-3230-087-1550,01-3230-087-1740,01-3230-087-1790,01-3230-087-1820

ASK ABOUT THIS PROPERTY

Ezequiel BaredesBM2 RealtyMore Info
786-234-4321

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Ezequiel BaredesBM2 RealtyMore Info
786-234-4321

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