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    The Largest CRE Database in the US with Over 1 Million Listings

    1037 NW 2Nd St Miami, FL 33128

    Sponsored
    For Sale
    $3,775,000

    Fourplex, Quadruplex - Miami, FL

    Type:Quadruplex
    Property size:
    7,000 SF
    Days on Market:
    34
    Last Refresh:
    Jan 31 at 12:06 pm

    Property Features for 1037 NW 2Nd St

    General Information

    Property type
    Residential
    Property subtype
    Quadruplex
    Property condition
    New Construction
    Standard status
    Active
    Zoning
    3900
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
    Bedrooms
    2
    Bathrooms
    2
    APN
    01-41-02-005-1650
    Parking
    7
    Size
    7,000 SF

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air, Other (Cooling)
    Water source
    Public

    Building Details

    Year built
    2025
    Flooring type
    Other
    Building materials
    Block, Other
    Roof type
    Concrete, Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Ricky Kallabat PA

    1426 Real Estate LLC D/B/A Keller Williams Coral Gables Realty (305) 662-7325

    Listing agent Ricky Kallabat PA (305) 662-7325 License #3254287

    Listing date Dec 29, 2025

    MLS# A11825930 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    New Multifamily Investment in Miami

    This newly constructed 10-unit multifamily property, located in a rapidly developing and culturally vibrant area of Miami, offers an investment opportunity. Designed with Italian inspiration by Crelux Designs, the building features architectural elegance and income efficiency. The property includes builder warranties of up to 10 years, ensuring low maintenance. Each unit is equipped with custom dual-tone kitchens, stainless steel appliances, designer bathrooms, wood-look porcelain floors, LED lighting, central AC, and in-unit washers and dryers. Residents can access a rooftop deck that provides views from Brickell to South Beach, a private backyard with a BBQ lounge, EV-ready covered parking, and an elevator. The property is designed to attract quality tenants and drive premium rents. The building has a total size of 7,000 square feet. Seller financing options are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.212234
    Latitude
    25.771885

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    FAQs

    What type of property is this?
    Apartment building - Newly built 10-unit multifamily property in a growing Miami area.
    Where is this apartment building located?
    The property is located at 1037 NW 2Nd St Miami, FL.
    What is the asking price?
    The asking price for this property is $3,775,000.
    What are key features of this property?
    This property features: - Brand new 10-unit multifamily property with a 6% cap rate, offering immediate income potential.; - Located in a rapidly growing area of Miami (Little Havana/NW Brickell/Riverside).; - Architecturally designed by award-winning Crelux Designs, featuring Italian-inspired aesthetics.
    (305) 747-5117
    Request Owner's contact information
    1037 NW 2Nd St Miami, FL 33128
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    Miami, FL 33128
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1037 NW 2Nd St Miami, FL 33128
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    We can help!
    Listing Contact
    Ricky Kallabat PA
    Real Estate License ID: 3254287
    (305) 747-5117
    Learn more
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