New Construction Apartment
For Sale
Contact for pricing
11451 SW 216th St, Miami, FL 33170
Three-story residences offer open layouts, private outdoor space, in-unit laundry, and condo-quality finishes.
Property Size35,868 SF
Lot Size0.83 Acres
Price / SF$412.62
Days on Market163
Property Features for 11451 SW 216th St
General Information
Standard status
Active
Size
35,868 SF
Total Parking Spaces
37
Lot size
0.83 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
12 x 2BR/2BA, 24 x 3BR/2BA
Multifamily Units
36
Building Details
Year Built
2027
Buildings
1
Stories
3
Units
36
Listing Agency:
Horvath & Tremblay
Listed By:
Alejandro Gonzalez · License #SL3249949
Source:
Crexi
Added: Mar 26
Changed: Sep 3
Last Checked: Sep 2 at 3:14PM
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.
Planned for early 2027 completion, this three-story apartment property will include 36 residential units across 35,868 square feet of living area. The mix consists of 12 two-bedroom, two-bath units and 24 three-bedroom, two-bath units. Interior features include open floor plans, in-unit laundry, private patios or balconies, and condo-quality finishes. The development is planned on a 0.83-acre corner parcel with 37 on-site resident parking spaces.
The property is located at 11451 SW 216th Street in Miami’s Goulds neighborhood. US Route 1 is 0.2 miles away, while the Florida Turnpike is 1 mile from the site, providing access across Miami and South Florida. Southland Mall is also 1 mile away, with retailers, restaurants, bars, and service businesses along the corridor. Additional nearby destinations include Zoo Miami, Black Point Park & Marina, Homestead Air Reserve Base, Homestead-Miami Motor Speedway, Biscayne Bay, Miami Executive Airport, and Downtown Miami.
The property is located at 11451 SW 216th Street in Miami’s Goulds neighborhood. US Route 1 is 0.2 miles away, while the Florida Turnpike is 1 mile from the site, providing access across Miami and South Florida. Southland Mall is also 1 mile away, with retailers, restaurants, bars, and service businesses along the corridor. Additional nearby destinations include Zoo Miami, Black Point Park & Marina, Homestead Air Reserve Base, Homestead-Miami Motor Speedway, Biscayne Bay, Miami Executive Airport, and Downtown Miami.
Key Highlights
- 36 residential units with 12 two‑bedroom/two‑bath and 24 three‑bedroom/two‑bath layouts
- 35,868 square feet of living area on a 0.83‑acre corner parcel
- Planned early 2027 completion with three‑story construction
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
$662,604
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
4.48%
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%
$13,252,080
$13.3M
Cap Rate 7%
$9,465,771
$9.5M
Cap Rate 9%
$7,362,267
$7.4M
Market Conditions
NOI Build-Up for 35,868 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
$1.29M $36.00/SF
− Vacancy
−$86.5K −$2.41/SF
EGI
$1.20M $33.59/SF
− OpEx
−$542.1K −$15.11/SF
NOI
$662.6K $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 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%
$13,252,080
Cap Rate 7%
$9,465,771
Cap Rate 9%
$7,362,267
Alternative Uses
Best Use
Apartment 5plus
$9.47M
$8.28M – $11.04M
NOI $662,604 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$24.21M
$21.18M – $28.25M
NOI $1,694,779 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
36
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 33170, FL
14,908
Population
4,839
Households
3.1
Avg Household Size
37
Median Age
22%
College-Educated
79%
High-School Grad
12.4 sq mi
ZIP Area
1,202
Density / Sq Mi
$68,953
Median Household Income
$40,052
Median Earnings
$1,511
Median Rent
$426,200
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 - Three-story residences offer open layouts, private outdoor space, in-unit laundry, and condo-quality finishes.
Where is this apartment building located?
The property is located at 11451 SW 216th St Miami, FL.
What is the asking price?
The asking price for this property is $14,800,000.
What are key features of this property?
This property features: 36 residential units with 12 two‑bedroom/two‑bath and 24 three‑bedroom/two‑bath layouts; 35,868 square feet of living area on a 0.83‑acre corner parcel; Planned early 2027 completion with three‑story construction
