New Construction Apartment
For Sale
Contact for pricing
10500 SW 172nd St, Miami, FL 33157
Planned two-story community with spacious residences, private outdoor areas, in-unit laundry, and dedicated resident parking.
Property Size20,874 SF
Lot Size0.68 Acres
Price / SF$455.11
Days on Market152
Property Features for 10500 SW 172nd St
General Information
Standard status
Active
Size
20,874 SF
Total Parking Spaces
22
Lot size
0.68 Acres
Property subtype
Multifamily
Net Operating Income
$548,852
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
8 x 2BR/2BA, 14 x 3BR/2BA
Multifamily Units
22
Amenities
in-unit laundry
private patios or balconies
condo-quality finishes
Building Details
Year Built
2027
Buildings
1
Stories
2
Units
22
Listing Agency:
Horvath & Tremblay
Listed By:
Alejandro Gonzalez · License #SL3249949
Source:
Crexi
Added: Apr 6
Changed: Sep 2
Last Checked: Sep 1 at 8:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Horvath & Tremblay
Investment Insights
Based on property information with market context.
Scheduled for completion in early 2027, this two-story apartment property will provide 22 residences totaling 20,874 square feet of living area. The unit mix includes eight two-bedroom, two-bath homes and fourteen three-bedroom, two-bath homes. Interior features include open layouts, in-unit laundry, private patios or balconies, and condo-quality finishes. Twenty-two on-site parking spaces are planned for residents.
The property occupies a 0.68-acre corner parcel at 10500 SW 172nd St in Miami’s West Perrine neighborhood. US Route 1 is 0.8 miles away, while the Florida Turnpike is 1.5 miles from the site, providing access across Miami and South Florida. Retail, dining, services, and entertainment are available along US Route 1 and near Southland Mall and The Falls. The location is also near a municipal bus line, Jackson South Medical Center, Zoo Miami, Miami Executive Airport, and other regional destinations.
The property occupies a 0.68-acre corner parcel at 10500 SW 172nd St in Miami’s West Perrine neighborhood. US Route 1 is 0.8 miles away, while the Florida Turnpike is 1.5 miles from the site, providing access across Miami and South Florida. Retail, dining, services, and entertainment are available along US Route 1 and near Southland Mall and The Falls. The location is also near a municipal bus line, Jackson South Medical Center, Zoo Miami, Miami Executive Airport, and other regional destinations.
Key Highlights
- 22 planned residential units with 20,874 square feet of living area
- Unit mix includes eight 2‑Bedroom/2‑Bathroom and fourteen 3‑Bedroom/2‑Bathroom residences
- Anticipated completion in early 2027
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$384,787
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,695,740
$7.7M
Cap Rate 7%
$5,496,957
$5.5M
Cap Rate 9%
$4,275,411
$4.3M
Market Conditions
NOI Build-Up for 20,874 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$736.4K $35.28/SF
− Vacancy
−$36.8K −$1.76/SF
EGI
$699.6K $33.52/SF
− OpEx
−$314.8K −$15.08/SF
NOI
$384.8K $18.43/SF
Area
ZIP 33157
Vacancy
5.00%
Lease Rate
$35.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,695,740
Cap Rate 7%
$5,496,957
Cap Rate 9%
$4,275,411
Alternative Uses
Best Use
Apartment 5plus
$5.50M
$4.81M – $6.41M
NOI $384,787 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.59M
$9.27M – $12.36M
NOI $741,318 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
22
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 33157, FL
68,069
Population
23,176
Households
2.9
Avg Household Size
42
Median Age
33%
College-Educated
86%
High-School Grad
14.9 sq mi
ZIP Area
4,568
Density / Sq Mi
$80,364
Median Household Income
$38,803
Median Earnings
$1,493
Median Rent
$478,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Planned two-story community with spacious residences, private outdoor areas, in-unit laundry, and dedicated resident parking.
Where is this apartment building located?
The property is located at 10500 SW 172nd St Miami, FL.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: 22 planned residential units with 20,874 square feet of living area; Unit mix includes eight 2‑Bedroom/2‑Bathroom and fourteen 3‑Bedroom/2‑Bathroom residences; Anticipated completion in early 2027
