Home » Properties » 180 NW 59th St, Miami FL 33127

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Multi-Family Commercial Property in Miami Opportunity Zone

5-unit multifamily property in Miami's Opportunity Zone with upgrades and mixed-use development potential.

$1,300,000

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MLS #A11854539

Listing Updated: 2026-07-10 18:39:53

Listed By: The Keyes Company

Overview

Located at 180 NW 59th St in Miami, this 5-unit multifamily commercial property offers a unique opportunity within a designated Opportunity Zone. Built in 1926 with durable concrete block construction, the property features a mix of 1, 2, and 3-bedroom units, each equipped with separate electric meters for tenant convenience. Recent permitted electrical and plumbing upgrades exceeding $100,000 enhance the building's infrastructure. Zoned T-5-R, the site allows for up to five stories of mixed-use development including retail, office, and residential spaces, providing flexibility for future expansion. The spacious front and back yards offer potential common areas for tenants. Located outside of a flood zone, this property presents a compelling option in Miami’s competitive market.

Property Highlights

5-unit multifamily property in Miami's Opportunity Zone; over $100,000 in electrical and plumbing upgrades; T-5-R zoning allows up to 5 stories mixed-use; durable concrete block construction; separate electric meters; spacious yards; not in flood zone.

Property Details

City: Miami

State: FL

Zip Code: 33127

Address: 180 NW 59th St, Miami FL 33127

Year Built: 1926

Property Type: Commercial Sale

Property Sub Type: Income/MultiFamily

Listing Office Name: The Keyes Company

County: Miami-Dade County

Garage Spaces:

Parking Features: On Street

Interior Features:

Exterior Features:

Waterfront: No

Pool: No

HOA Fee: $0

Annual Tax: $12,727

Days On Market: 302 Days

Original Listing Description

Located in a coveted Opportunity Zone, this 5-unit multifamily property boasts over $100,000 in permitted electrical & plumbing upgrades, ensuring reliable infrastructure. Zoned T-5-R, there's great potential for higher-density mixed-use development, allowing up to 5 stories with retail, office, and residential spaces—unlocking significant value appreciation. Durable concrete block construction, there is a mix of 1, 2, and 3-Bedroom units, each with separate electric meters for tenant convenience. Spacious front & back yards, perfect for making desirable common areas for potential new tenants. Not in a flood zone, this investment offers a strong cap rate, making it a rare find in Miami’s competitive market. Bringing rents up to current market will also dramatically improve your returns!

Property Location

Explore the surrounding area, nearby amenities, and neighborhood access for this property.

180 NW 59th St, Miami FL 33127

About This Neighborhood

Situated in Miami’s 33127 ZIP code, this property benefits from a neighborhood that blends residential and commercial uses. The area is known for its diverse community and growing demand for multifamily housing. Proximity to major roads and commercial corridors supports accessibility and convenience for residents and tenants. The neighborhood’s evolving character and inclusion in an Opportunity Zone highlight its appeal to buyers looking for properties with future development possibilities and community integration.

Walkability & Lifestyle

This property is located in a neighborhood with good walkability to local amenities. Residents can access nearby restaurants, shops, and services within a short distance. The area’s urban setting supports convenient daily living with public transportation options and pedestrian-friendly streets. Proximity to parks and recreational areas enhances lifestyle quality, offering outdoor spaces for relaxation and activities.

Things To Do Nearby

Miami’s vibrant lifestyle is accessible from this location, with opportunities for dining, shopping, and entertainment nearby. Residents can enjoy waterfront parks, cultural events, and recreational activities such as boating and golf within a short drive. The neighborhood’s mix of urban conveniences and outdoor amenities caters to diverse interests and supports an active lifestyle.

Nearby Schools

The Miami 33127 area offers access to various educational institutions, including public and private schools serving different grade levels. Families living in or near this neighborhood benefit from convenient school options within reasonable commuting distance. The community’s educational resources contribute to its appeal for residents seeking a balanced urban lifestyle with access to quality schooling for children.

Why Buyers Like This Area

Buyers appreciate this property for its strategic location in a designated Opportunity Zone, offering potential for future development and tax advantages. The mixed-use zoning allows flexibility to adapt the property to evolving market demands. Its solid construction, recent upgrades, and tenant-friendly features such as separate electric meters enhance its attractiveness. The spacious yards provide additional value for tenant amenities or future improvements, making it a practical choice for investors and owner-users alike.

Investment Potential

This 5-unit multifamily property in Miami’s Opportunity Zone offers promising potential for buyers seeking a commercial asset with room for growth. The T-5-R zoning allows for mixed-use development up to five stories, enabling future expansion that can include retail, office, and residential spaces. Recent infrastructure upgrades to electrical and plumbing systems add reliability and reduce maintenance concerns. Its location outside flood zones and the presence of separate electric meters for each unit enhance tenant convenience and property resilience. While current rents can be adjusted to market levels, this property appeals to those interested in a stable income stream with development upside.

Market Trends

Miami’s multifamily market remains competitive, with strong demand driven by population growth and urban development. Properties located within Opportunity Zones attract particular interest due to potential tax incentives and redevelopment opportunities. The T-5-R zoning classification supports mixed-use projects, aligning with current trends favoring walkable, amenity-rich neighborhoods. Inventory of well-maintained multifamily commercial buildings is limited, making this property a noteworthy option for buyers seeking both stability and potential expansion in Miami’s dynamic real estate market.

Rental Income Potential

The property’s mix of 1, 2, and 3-bedroom units, each with separate electric meters, appeals to a range of tenants seeking flexible living arrangements. Its location outside flood zones and recent infrastructure upgrades contribute to tenant satisfaction and reduced operational risks. Bringing rents in line with current market rates can improve income potential. Seasonal demand and Miami’s steady rental market support ongoing tenant interest, making this multifamily property a viable option for investors focused on rental income and long-term occupancy.