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3123 NW 3rd Ave Miami FL 33127 Land for Sale

Prime residential land with NRD-2 zoning, near Wynwood and Midtown, offering up to 34 buildable units at $75,000 each.

$900,000

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MLS #A11773549

Listing Updated: 2026-07-15 18:37:24

Listed By: Fausto Commercial Realty Consultants Inc

Overview

This residential land at 3123 NW 3rd Ave in Miami offers a unique assemblage opportunity with flexible pricing. Zoned T-4R with an NRD-2 overlay, it allows for a density of 150 units per acre, enabling up to 34 units to be built. Located just blocks from Wynwood, Midtown, and the Design District, and close to I-95 and I-195, this property benefits from strong housing demand and proximity to major employment and entertainment hubs. The land can be rented while development approvals are secured. Local developers are considering condo conversions, workforce housing, or traditional apartment rentals, reflecting the area's dynamic real estate market.

Property Highlights

Flexible price; T-4R zoning with NRD-2 overlay; Up to 34 units buildable; Near Wynwood, Midtown, Design District; Close to I-95 and I-195; Strong rental and housing demand; Suitable for condo or apartment projects.

Property Details

City: Miami

State: FL

Zip Code: 33127

Address: 3123 NW 3rd Ave, Miami FL 33127

Year Built:

Property Type: Land/Boat Docks

Property Sub Type: Residential

Listing Office Name: Fausto Commercial Realty Consultants Inc

County: Miami-Dade County

Garage Spaces:

Parking Features:

Interior Features:

Exterior Features:

Waterfront: No

Pool: No

HOA Fee: $0

Annual Tax: $380

Days On Market: 432 Days

Original Listing Description

ASSEMBLAGE OPPORTUNITY! This property can be bought along with 287 nw 31st St (MLS#: A11732843). PRICE IS FLEXIBLE. This prime investment T-4R property with NRD-2 Zoning Overlay give this land the ability to build at a density of 150 units per acre, this means you can build up to 34 units as of right at $75,000 per buildable unit. Strategically located just blocks away from Wynwood, Midtown, and the Design District, and flanked by I-95 and I-195, this is an ideal investment due to strong rental and housing demand driven by its proximity to jobs and major entertainment areas. Rent the property while you get approved to build. The models being done by local developers are condo conversions, workforce housing, or traditional apartment rental, see remarks for other projects in the area.

Property Location

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

3123 NW 3rd Ave, Miami FL 33127

About This Neighborhood

Situated in a vibrant area of Miami, this property benefits from close proximity to Wynwood, Midtown, and the Design District. These neighborhoods are known for their cultural attractions, dining, and entertainment options. The surrounding area offers a mix of residential and commercial developments, contributing to a dynamic urban environment. Easy access to major highways further connects residents to downtown Miami and other key locations, enhancing the neighborhood’s appeal for both living and investment.

Walkability & Lifestyle

This Miami location boasts walkability to key neighborhoods such as Wynwood and Midtown, known for their restaurants, shops, and cultural venues. Residents can enjoy nearby parks and waterfront areas, as well as easy access to public transportation and highways. The urban setting supports a lifestyle where daily errands, dining, and entertainment are within comfortable walking or short driving distances.

Things To Do Nearby

Nearby attractions include the vibrant arts scene of Wynwood, shopping and dining in Midtown, and cultural experiences in the Design District. Outdoor activities such as visiting waterfront parks, marinas, and recreational areas are easily accessible. The location also offers nightlife options and proximity to major highways for exploring broader Miami destinations.

Nearby Schools

The area around 3123 NW 3rd Ave offers access to various educational institutions within Miami. Families and residents benefit from proximity to public and private schools, providing convenient options for students of different ages. The neighborhood’s accessibility ensures that schools are reachable without long commutes, adding to the location’s residential appeal.

Why Buyers Like This Area

Buyers appreciate this property’s flexible zoning and prime location near Miami’s key cultural and employment hubs. The ability to build multiple units appeals to developers and investors aiming to meet housing demand. The neighborhood’s amenities, accessibility, and dynamic urban environment make it suitable for various residential projects, from condos to workforce housing.

Investment Potential

This Miami land parcel presents a notable investment opportunity due to its zoning that supports up to 150 units per acre, allowing for the development of up to 34 residential units. Its strategic location near Wynwood, Midtown, and the Design District ensures strong demand from renters and buyers alike. The property’s proximity to major highways like I-95 and I-195 enhances accessibility, making it attractive for future residents. Investors may also consider renting the land during the approval process, capitalizing on Miami’s consistent housing needs.

Market Trends

Miami’s real estate market continues to show robust demand, particularly in neighborhoods close to cultural and employment centers like Wynwood and Midtown. Properties with zoning flexibility, such as this T-4R land with NRD-2 overlay, attract developers aiming to meet housing needs. The area’s inventory remains competitive, with buyers seeking opportunities to build multi-unit residences. Long-term interest in Miami real estate remains steady due to its economic growth and lifestyle appeal.

Rental Income Potential

The property’s location near major employment and entertainment districts supports strong rental demand. Potential developments such as condo conversions or workforce housing align with tenant needs in the area. While rental income cannot be guaranteed, the strategic positioning near Wynwood and Midtown suggests favorable tenant interest. Investors might consider leasing the land temporarily during planning phases to generate interim revenue.