535-585 NW 35th Street - The Wynwood 35 Development Site

DWNTWN Realty Advisors has been retained exclusively by ownership to arrange the sale of Wynwood 35 located at 535-585 NW 35th Street, Miami FL 33127. The subject property is a 41,025 SF infill development site zoned T5-O, permitting up to 5 stories plus an additional 3 with bonus and 150 residential units per acre by right. Approved uses include residential, hotel, office, and/or mixed use via bonus with the recently implemented NRD-2 zoning overlay. The site will be sold permit ready. As approved, the site allows for 141 units. However, the site represents a unique opportunity to capitalize on the Live Local Act (LLA) and to develop up to 20 stories and potentially fit 350 residential units. The LLA allows this site to utilize the maximum height within 1-mile which is T6-36-O allowing 36-stories pulled from nearby sites in Edgewater and Midtown. Furthermore, the maximum units per acre can be 1,000 and maximum FLR is 36, per the City of Miami LLA processes and procedures. The property consists of six folios and is strategically located on NW 35th Street between NW 5th Ave and NW 6th Ave, the northeastern corridor of Wynwood Norte, minutes away from Miami’s trendy Wynwood Arts District, Midtown Miami, and the Design District. Additionally, the site is highly accessible from the I-195 exit at North Miami Avenue which connects to the I-95, with an approximate 140,000 daily car traffic.