Newly Constructed 6-Unit Apartment
For Sale
$5,400,000
526 Southwest 2nd Street, Miami, FL 33130
Six residences feature three bedrooms and three baths each in Miami’s Little Havana neighborhood.
Property Size9,367 SF
Price / SF$576.49
Days on Market972
Property Features for 526 Southwest 2nd Street
General Information
Standard status
Active
Size
9,367 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Units
Unit Mix
6 x 3BR/3BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$11,130
Building Details
Buildings
1
Listing Agency:
Fausto Commercial Realty Consultants Inc
(305) 431-2258
Listed By:
Mauricio Villasuso · License #3254982
(305) 431-2258
Source:
Compass
Added: Jan 1, 2024
Changed: Aug 29
Last Checked: Aug 29 at 9:25PM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This newly constructed apartment building contains six residences within 9,367 SF. Each unit is configured with three bedrooms and three baths, providing a consistent layout across the property. Certain units are expected to offer an option for two parking spaces.
The property is located at 526 Southwest 2nd Street in Miami’s Little Havana neighborhood, an established area known for its cultural character. The six-unit configuration and uniform three-bedroom, three-bath layouts provide a clearly defined multifamily format.
The property is located at 526 Southwest 2nd Street in Miami’s Little Havana neighborhood, an established area known for its cultural character. The six-unit configuration and uniform three-bedroom, three-bath layouts provide a clearly defined multifamily format.
Key Highlights
- Newly constructed 6‑unit apartment building
- 9,367 SF property with six residential units
- Each unit includes 3 bedrooms and 3 baths
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
$173,040
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
3.20%
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%
$3,460,800
$3.5M
Cap Rate 7%
$2,472,000
$2.5M
Cap Rate 9%
$1,922,667
$1.9M
Market Conditions
NOI Build-Up for 9,367 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
$337.2K $36.00/SF
− Vacancy
−$22.6K −$2.41/SF
EGI
$314.6K $33.59/SF
− OpEx
−$141.6K −$15.11/SF
NOI
$173.0K $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%
$3,460,800
Cap Rate 7%
$2,472,000
Cap Rate 9%
$1,922,667
Alternative Uses
Best Use
Apartment 5plus
$2.47M
$2.16M – $2.88M
NOI $173,040 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.32M
$5.53M – $7.38M
NOI $442,595 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
8,578
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
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 - Six residences feature three bedrooms and three baths each in Miami’s Little Havana neighborhood.
Where is this apartment building located?
The property is located at 526 Southwest 2nd Street Miami, FL.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: Newly constructed 6‑unit apartment building; 9,367 SF property with six residential units; Each unit includes 3 bedrooms and 3 baths
