Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1427 NW 2Nd Ave Florida City, FL 33034

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,550,000

    Nine-unit multifamily property with development potential in high-growth area.

    Lot size:
    0.69 Acres

    Property Features for 1427 NW 2Nd Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.69 Acres

    We can help!

    Listing Contact
    Duriel Taylor
    Source: Elliman

    Listing Agency: Compass Florida LLC Listing Agent: Duriel Taylor

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Multifamily Value-Add Development Opportunity

    This nine-unit multifamily property generates $7,971 per month with 97% occupancy, offering cash flow. The property includes a $300,000 transferable Affordable Housing Grant and $80,000 in recent capital improvements. A new roof, impact windows, and doors are planned for 2025. An adjacent 24,000 square foot vacant lot is approved for 30 units, suitable for portfolio expansion or ground-up development. The property is zoned for flexibility and positioned for future growth. Seller financing is available.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Florida City
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.4807
    Latitude
    25.460594

    Nearby Similar for Sale

    • $375,000

      Established Car Wash Business Opportunity

      Profitable car wash business with loyal clientele and experienced team.
      305 SW 9Th Ave, Florida City, FL 33034
      View Details
    • $699,000
      2,280 SF

      Well-Maintained Fourplex Investment Opportunity

      Fourplex with strong rental demand near US-1 and Florida Turnpike.
      1478 NW 2Nd Ave, Florida City, FL 33034
      View Details
    • Contact for pricing

      Power Financial Building Office Space

      Second floor office space in Power Financial Building.
      33004 S Dixie Hwy, Florida City, FL 33034
      View Details
    • $250,000
      Pending

      Established Pediatric Extended Care Center

      Turnkey PPEC center serving medically complex children.
      646 W Palm Dr, Florida City, FL 33034
      View Details
    • $675,000

      Income-Producing Duplex in Florida City

      Duplex with two 4-bedroom units, ideal for investors.
      1514 NW 5Th Ave, Florida City, FL 33034
      View Details
    • $709,000

      Florida City Duplex For Sale

      Modern duplex in Florida City with premium finishes.
      1452-1458 NW 1St Ct, Florida City, FL 33034
      View Details
    • $749,000
      Pending

      New Duplex with High-End Finishes

      New two-story duplex featuring contemporary design and high-end finishes.
      1457-1459 NW 2Nd Ave, Florida City, FL 33034
      View Details
    • $698,000
      Pending

      Move-in Ready Duplex in Florida City

      Stylish duplex with modern amenities, ideal for investors or families.
      1231-1233 NW 9Th Ave, Florida City, FL 33034
      View Details
    • $10,000,000

      Days Inn Florida City Hotel

      123-key hotel near Florida Keys and Everglades.
      124 East Palm Dr, Florida City, FL 33034
      View Details
    • $1,250,000

      Renovated Fourplex with Strong Potential

      Renovated fourplex featuring modern finishes and strong rental potential.
      1406 NW 2Nd Ave, Florida City, FL 33034
      View Details
    • $1,150,000

      Renovated Fourplex in Florida City

      Four renovated units, strong rental potential in prime location.
      1406 NW 2Nd Ave, Florida City, FL 33034
      View Details
    • Contact for pricing

      Office Space in Financial Building

      Second-floor office space with modern features and open floor plan.
      33004 S Dixie Hwy, Florida City, FL 33034
      View Details

    FAQs

    What type of property is this?
    Apartment building - Nine-unit multifamily property with development potential in high-growth area.
    Where is this apartment building located?
    The property is located at 1427 NW 2Nd Ave Florida City, FL.
    What is the asking price?
    The asking price for this property is $2,550,000.
    What are key features of this property?
    This property features: - High-growth area with a 9-unit multifamily property generating $7,971/month at 97% occupancy, offering strong cash flow.; - Includes a **$300K transferable Affordable Housing Grant**.; - **24,000 SF adjacent vacant lot approved for 30 units**, ideal for development.
    (954) 332-7121
    Request Owner's contact information
    1427 NW 2Nd Ave Florida City, FL 33034
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1427 NW 2Nd Ave
    Florida City, FL 33034
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1427 NW 2Nd Ave Florida City, FL 33034
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Duriel Taylor
    Real Estate License ID: 3466711
    (954) 332-7121 (954) 880-2550 (954) 439-8865
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!