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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

    Multi Family - Miami, FL

    Type:Single Family Attached
    Days on Market:
    29
    Last Refresh:
    Feb 12 at 12:06 pm

    Property Features for 1037 NW 2Nd St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Single Family Attached
    Property condition
    New Construction
    Standard status
    Active
    Zoning
    3900
    APN
    01-41-02-005-1650
    Parking features
    Garage, On Street
    Exterior features
    Security High Impact Doors

    Utilities

    Sewer type
    Other
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Other

    Building Details

    Year built
    2025
    Number of units
    10
    Building materials
    Block
    Roof type
    Concrete
    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 Jan 15, 2026

    MLS# A11826002 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 Building in Miami

    This newly constructed 10-unit multifamily property is located in a rapidly developing, culturally vibrant area of Miami. The building showcases Italian-inspired design by Crelux Designs. Each unit includes custom dual-tone kitchens, stainless steel appliances, designer bathrooms, wood-look porcelain floors, LED lighting, central AC, and in-unit washers and dryers. Residents have access to a rooftop deck with views spanning 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 command premium rents. It also comes with builder warranties for up to 10 years, ensuring low maintenance. Seller financing options are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    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 in a rapidly growing area (Little Havana / NW Brickell / Riverside).; - 6% Cap Rate.; - Seller financing option with potential for a 3% interest rate via lender buydown.
    (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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