Price Check
How this price compares
- Asking price
- $1,200,000
- Price per sq ft
- N/A
- Original price
- Unchanged
- Days on market
- 66
This lot in Railway Shops Addn 2nd Am went under contract with an asking price of $1,200,000. It spent 66 days on the market before going under contract.
Estimated monthly payment
$6,307 /mo
Principal and interest only, based on $240,000 down (20%), a 6.875% 30-year fixed rate. Property taxes, homeowners insurance are not included.
Customize this estimateListing Snapshot
- Price
- $1,200,000
- Days on Site
- 66 Days
- Bedrooms
- 0
- Total Baths
- 0
- Lot Size
- 0.2 Acres
- Property Type
- Land
- MLS #
- A12015572
- Property Tax
- $14,298 (2025)
- Subdivision
- RAILWAY SHOPS ADDN 2ND AM
- County
- Miami Dade
- Status
- Under Contract
About This Property
Exceptional opportunity to own one of the largest single-parcel lots near the Miami Design District. Zoned for a single-family residence with an ancillary unit, this fenced corner lot features an existing pool and offers exceptional potential for investors, developers, or end users looking to build a custom home in one of Miami’s most sought-after neighborhoods.The expansive lot size provides ample space for a substantial residence with generous outdoor living areas while still preserving privacy and flexibility in design. Ideally located near the Design District, Midtown, Wynwood, and major roadways, this is a rare opportunity to secure a premier lot in one of Miami’s most desirable locations.Buyer to verify zoning, land use, building restrictions, and development potential with the appropriate municipal authorities.
General Features
- Property Type
- Land
- Status
- Under Contract
- Direction Faces
- Southwest
- Lot Size (Acres)
- 0.2
- Sewer
- Public Sewer
- Water Source
- Public
- Zoning
- 0104
Exterior Features
- Lot Features
- Cleared / City Lot
- Waterfront Features
- None
Community & HOA
- Financing Terms
- Cash / Conventional
- MLS Area
- 2310
Schools
- Elementary School
- Shadowlawn
- Middle School
- Jose De Diego
- High School
- Miami Edison
Features & Amenities
About the Community
Railway Shops Addn 2nd Am is an age-restricted 55+ community in Miami, Miami-Dade County, Florida, governed under the Housing for Older Persons Act (HOPA). Homes are priced from $899,900 to $1,800,000. At least one resident per home must be 55 or older. Pure Equity lists homes in Railway Shops Addn 2nd Am and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.
- Homes for Sale
- 15
- Median List Price
- $1,190,000
- Median $/Sq Ft
- $656
- Avg Days on Market
- 117
Frequently Asked Questions
- How do I schedule a tour of 5001 NW 1st Avenue, Miami, FL 33127?
- Use the Tour button on this listing to request a showing of 5001 NW 1st Avenue, Miami, FL 33127. Pick a day and time and choose an in-person or video-chat tour, and a Pure Equity agent will confirm your visit, often the same day.
- Is 5001 NW 1st Avenue, Miami, FL 33127 still available?
- 5001 NW 1st Avenue, Miami, FL 33127 is currently listed as Under Contract, and has been on the market 66 days. Status updates directly from the MLS as homes go under contract, so ask us to confirm availability before you plan a visit.
- How much is the monthly payment for 5001 NW 1st Avenue, Miami, FL 33127?
- With 20% down ($240,000) on the $1,200,000 list price and a 30-year fixed loan at an illustrative 6.875% rate, the estimated principal & interest for 5001 NW 1st Avenue, Miami, FL 33127 is about $6,307/mo, before property taxes, insurance. Use the payment estimate on this page to adjust the down payment and rate.
- How do I get pre-approved to buy 5001 NW 1st Avenue, Miami, FL 33127?
- Getting pre-approved shows sellers you're a serious buyer and clarifies your true budget before you offer on 5001 NW 1st Avenue, Miami, FL 33127. Contact Pure Equity and we'll connect you with a trusted local lender to review your financing options, no obligation.
- What schools serve 5001 NW 1st Avenue, Miami, FL 33127?
- 5001 NW 1st Avenue, Miami, FL 33127 is zoned for Shadowlawn (elementary), Jose De Diego (middle), Miami Edison (high). School assignments and boundaries can change year to year, so confirm current zoning with the local school district before you buy.
- Can I negotiate the price of 5001 NW 1st Avenue, Miami, FL 33127?
- Often, yes. The right offer on 5001 NW 1st Avenue, Miami, FL 33127 depends on how it's priced against comparable land sales in Miami, how long it's been listed, and how motivated the seller is. Pure Equity will run the comps and help you craft a competitive, well-supported offer.
Listing courtesy of Florida Realty of Miami Corp
Listing information is provided by BeachesMLS, Inc.and is deemed reliable but not guaranteed accurate by the MLS or Pure Equity. Information is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. © 2026 BeachesMLS, Inc. Last updated June 23, 2026.
$1,200,000
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Listed by Hernan Dario Olivera, Florida Realty of Miami Corp
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Recent Sales
Recently sold homes in Railway Shops Addn 2nd Am
These are the last 6 recorded closings in Railway Shops Addn 2nd Am, with the price each home actually sold for rather than what it was listed at. They closed at a median of $533 per square foot. The most recent closed on June 16, 2026. Closed sales are what an appraiser and a buyer's agent will look at, so they are the starting point for pricing a home here.
Sold$550,000
Sold · June 16, 2026
598 NW 53rd Street
2 bed · 1 bath · 948 sqft · $580/sqft
$48,000 under the asking price
Sold$850,000
Sold · June 13, 2026
95 NW 52nd Street
4 bed · 3 bath · 1,833 sqft · $464/sqft
$49,900 under the asking price
Sold$625,000
Sold · June 4, 2026
424 NW 53rd Street
3 bed · 1 bath · 1,172 sqft · $533/sqft
$24,000 under the asking price
Sold$590,000
Sold · June 1, 2026
70 NW 53rd Street
0 bed · 0 bath
$60,000 under the asking price
Sold$630,000
Sold · May 1, 2026
61 NW 53rd Street
3 bed · 3 bath · 1,080 sqft · $583/sqft
$45,000 under the asking price
Sold$560,000
Sold · April 28, 2026
80 NW 53rd Street
4 bed · 2 bath · 1,634 sqft · $343/sqft
$55,000 under the asking price
See every recorded sale in Railway Shops Addn 2nd Am or find out what your Railway Shops Addn 2nd Am home is worth.
