Multifamily Building with Central
For Sale
$4,275,000
1185 W 27th St, Hialeah, FL 33010
16-unit multifamily property features central AC, concrete roof, and hurricane shutters.
Property Size11,904 SF
Days on Market160
Property Features for 1185 W 27th St
General Information
Standard status
Active
Size
11,904 SF
Total Parking Spaces
24
Property subtype
Income/MultiFamily
Occupancy
100%
Units
Unit Mix
8 x 1BR, 8 x 2BR
Multifamily Units
16
Amenities
central AC
Hurricane shatters
Building Details
Building Size
11,904 SF
Year Built
1970
Buildings
1
Listing Agency:
Equator Realty
Listed By:
Roberto Gonzalez · License #0620347
Source:
Miamibrokersgroup
Added: Feb 28
Changed: Jul 31
Last Checked: Aug 7 at 1:37AM
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 Equator Realty
Investment Insights
Based on property information with market context.
Multifamily apartment building at 1185 W 27th St, Hialeah, FL 33010, built in 1970. The property includes 16 units total: 8 one-bedroom units and 8 two-bedroom units. Reported as 100% rented. The building is equipped with central A/C and a concrete roof, and it has hurricane shutters.
The property provides on-site parking with 24 parking spaces. Tenants are in place, so prospective buyers should coordinate showings through the listing agent.
The property provides on-site parking with 24 parking spaces. Tenants are in place, so prospective buyers should coordinate showings through the listing agent.
Key Highlights
- Reported 100% rented with tenants in place
- 16 total units: 8 one‑bedroom and 8 two‑bedroom apartments
- Central A/C throughout the building
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
$159,407
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
3.73%
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%
$3,188,140
$3.2M
Cap Rate 7%
$2,277,243
$2.3M
Cap Rate 9%
$1,771,189
$1.8M
Market Conditions
NOI Build-Up for 11,904 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
$310.0K $26.04/SF
− Vacancy
−$20.1K −$1.69/SF
EGI
$289.8K $24.35/SF
− OpEx
−$130.4K −$10.96/SF
NOI
$159.4K $13.39/SF
Area
Hialeah, FL
Vacancy
6.50%
Lease Rate
$26.04 /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%
$3,188,140
Cap Rate 7%
$2,277,243
Cap Rate 9%
$1,771,189
Alternative Uses
Best Use
Apartment 5plus
$2.28M
$1.99M – $2.66M
NOI $159,407 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.69M
$4.10M – $5.47M
NOI $327,979 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,921
Businesses Nearby
Explore this area
Business Placement
Demographics for 33010, FL
43,902
Population
16,456
Households
2.7
Avg Household Size
48
Median Age
20%
College-Educated
71%
High-School Grad
4.3 sq mi
ZIP Area
10,210
Density / Sq Mi
$45,449
Median Household Income
$30,466
Median Earnings
$1,318
Median Rent
$346,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 16-unit multifamily property features central AC, concrete roof, and hurricane shutters.
Where is this apartment building located?
The property is located at 1185 W 27th St Hialeah, FL.
What is the asking price?
The asking price for this property is $4,275,000.
What are key features of this property?
This property features: Reported 100% rented with tenants in place; 16 total units: 8 one‑bedroom and 8 two‑bedroom apartments; Central A/C throughout the building
