12-Unit Apartment
111 SW 18th Ave, Miami, FL 33135
For Sale
$3,950,000
The property contains a consistent mix of two-bedroom, one-bathroom apartments.
Property Size9,615 SF
Price / SF$410.82
Days on Market213
Property Features for 111 SW 18th Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
WERC Realty, LLC
Listed By:
David Olivares · License #3289945
(786) 261-4470
Source:
Wisewill
Added: Apr 10
Changed: Nov 7
Last Checked: Nov 7 at 7:39PM
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 WERC Realty, LLC
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Investment Insights
Based on property information with market context.
This 12-unit apartment building contains 9,615 square feet and was constructed in 1962. Each apartment has two bedrooms and one bathroom. The building has completed its 50-year recertification, a significant milestone for the property.
Key Highlights
- 12 apartments, each with 2 bedrooms and 1 bathroom
- 9,615‑square‑foot building constructed in 1962
- Completed 50‑year recertification
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$177,622
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,552,440
$3.6M
Cap Rate 7%
$2,537,457
$2.5M
Cap Rate 9%
$1,973,578
$2.0M
Market Conditions
NOI Build-Up for 9,615 SF
Gross rent
$346.1K $36.00/SF
− Vacancy
−$23.2K −$2.41/SF
EGI
$322.9K $33.59/SF
− OpEx
−$145.3K −$15.11/SF
NOI
$177.6K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,552,440
Cap Rate 7%
$2,537,457
Cap Rate 9%
$1,973,578
Alternative Uses
Best Use
Apartment 5plus
$2.54M
$2.22M – $2.96M
NOI $177,622 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.49M
$5.68M – $7.57M
NOI $454,313 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
4,334
Businesses Nearby
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Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Miami, FL
Properties on Market for Apartment buildings in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The property contains a consistent mix of two-bedroom, one-bathroom apartments.
Where is this apartment building located?
The property is located at 111 SW 18th Ave Miami, FL.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 12 apartments, each with 2 bedrooms and 1 bathroom; 9,615‑square‑foot building constructed in 1962; Completed 50‑year recertification
