For Sale

591 NW 29th Street

Miami, FL 33127

$5,500,000

Highlights

  • 6,035 SF building on a 0 SF lot
  • Zoned T6-8-O / NRD-2 in Miami (as listed)
  • Asking $911/SF

Property facts

Price
$5,500,000
Price per SF
$911/SF
Property type
Retail
Building size
6,035 SF
Lot size
0 SF
Zoning
T6-8-O / NRD-2 in Miami
Neighborhood
Wynwood

Zoning is the code the listing gives; what a code allows depends on the city.

About this property

DWNTWN Realty Advisors is pleased to exclusively present 591 NW 29th Street (the "Property"), a 5,247 SF corner commercial building on a 9,000 SF lot located at the signalized intersection of NW 29th Street and NW 6th Avenue in Miami's Wynwood Arts District. The Property was delivered following a $700,000 capital improvement program including new foundations, electrical, HVAC, sprinklers, and impact windows and doors. Street parking is available. The Property is 100% leased to three tenants, including Endgame Training LLC, a gym operator occupying 1,867 SF under a 5-year lease with 3% annual escalations, and Canopee Tech Inc., a digital menu board showroom occupying 1,566 SF under a 3-year lease stepping to $38.05/SF by Year 3. The remaining approximately 1,814 SF suite is occupied by the current owner under a lease running through May 2029, which a buyer can either assume through its term or terminate to deliver the suite vacant at closing, depending on investment strategy. All three in-place leases sit modestly below current Wynwood market rents, positioning the Property for embedded mark-to-market upside as each lease rolls over the hold period. Zoned T6-8-O with an NRD-2 overlay, the Property carries long-term redevelopment optionality up to 8 stories (12 with bonus density) beyond its current improvements. 591 NW 29th Street represents an opportunity to acquire a partially stabilized, contractually growing income stream with a clear, near-term lease-up mechanism at one of Wynwood's most visible corners.

From the listing broker.

Our estimate

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Location

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