Miami Multifamily Property For
For Sale
$6,600,000
4271 NW South Tamiami Canal Dr, Miami, FL 33126
24-unit multifamily property in vibrant Miami location.
Property Size17,069 SF
Price / SF$386.67
Days on Market182
Property Features for 4271 NW South Tamiami Canal Dr
General Information
Standard status
Active
Size
17,069 SF
Building Details
Year Built
1971
Listing Agency:
Habitat Realty LLC
Listed By:
Javier Gomez
(786) 273-6643
Source:
Mymiahomes
Added: Mar 11
Changed: Sep 8
Last Checked: Jul 21 at 1:22PM
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 Habitat Realty LLC
Investment Insights
Based on property information with market context.
This 24-unit multifamily property is located at 4271 NW South Tamiami Canal Drive in Miami. The property is situated in a vibrant and fast-growing area within the Hispanic community, offering proximity to Miami International Airport, the Health District, Brickell, and the upcoming Miami Freedom Park Stadium (Inter Miami). The location provides access to public transportation, expressways, and major highways. The property features 24 fully renovated units. There are 9 units with 2 bedrooms and 1 bath, each approximately 750 square feet. Additionally, there are 15 units with 1 bedroom and 1 bath, each approximately 580 square feet. Each unit has a separate electric meter. The property includes one parking space per unit, plus guest parking. The area experiences strong rental demand and capital appreciation.
Key Highlights
- Prime Miami location in a vibrant, fast‑growing area with a strong Hispanic community.
- 24 fully renovated units, offering immediate appeal to renters.
- Proximity to major destinations including Miami International Airport, Health District, Brickell, and Miami Freedom Park Stadium.
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
$315,322
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
4.78%
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%
$6,306,440
$6.3M
Cap Rate 7%
$4,504,600
$4.5M
Cap Rate 9%
$3,503,578
$3.5M
Market Conditions
NOI Build-Up for 17,069 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
$614.5K $36.00/SF
− Vacancy
−$41.2K −$2.41/SF
EGI
$573.3K $33.59/SF
− OpEx
−$258.0K −$15.11/SF
NOI
$315.3K $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%
$6,306,440
Cap Rate 7%
$4,504,600
Cap Rate 9%
$3,503,578
Alternative Uses
Best Use
Apartment 5plus
$4.50M
$3.94M – $5.26M
NOI $315,322 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.52M
$10.08M – $13.44M
NOI $806,518 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Explore this area
Business Placement
Demographics for 33126, FL
48,751
Population
19,725
Households
2.5
Avg Household Size
44
Median Age
28%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
9,028
Density / Sq Mi
$55,722
Median Household Income
$32,607
Median Earnings
$1,651
Median Rent
$299,800
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 - 24-unit multifamily property in vibrant Miami location.
Where is this apartment building located?
The property is located at 4271 NW South Tamiami Canal Dr Miami, FL.
What is the asking price?
The asking price for this property is $6,600,000.
What are key features of this property?
This property features: Prime Miami location in a vibrant, fast‑growing area with a strong Hispanic community.; 24 fully renovated units, offering immediate appeal to renters.; Proximity to major destinations including Miami International Airport, Health District, Brickell, and Miami Freedom Park Stadium.
