10-Unit Apartment
For Sale
$2,750,000
1244 Northwest 5th Street, Miami, FL 33125
Constructed in 2016 with covered parking on site.
Property Size9,952 SF
Lot Size0.17 Acres
Price / SF$276.33
Days on Market2332
Property Features for 1244 Northwest 5th Street
General Information
Standard status
Active
Size
9,952 SF
Total Parking Spaces
10
Lot size
0.17 Acres
Property subtype
Commercial/Industrial / Income/Multi Family
Additional Details
Cap Rate
4.8%
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$21,581
Building Details
Year Built
2016
Buildings
1
Listing Agency:
BHHS EWM Realty
Listed By:
Vanessa Mazzeo · License #0531536
(305) 960-2400
Source:
Compass
Added: Jun 3, 2020
Changed: Oct 5
Last Checked: Oct 20 at 11:39PM
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 BHHS EWM Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 10-unit apartment property was completed in 2016 and contains 9,952 SF of total living area. The site measures 7,500 SF and includes 10 covered parking spaces. A 4.8% cap rate is reported for the property.
The building is located at 1244 Northwest 5th Street in Miami, Florida, near the MARLINS Stadium. The multifamily configuration, established construction date, and dedicated covered parking provide a clear overview of the asset’s physical profile.
The building is located at 1244 Northwest 5th Street in Miami, Florida, near the MARLINS Stadium. The multifamily configuration, established construction date, and dedicated covered parking provide a clear overview of the asset’s physical profile.
Key Highlights
- 10‑unit multifamily building completed in 2016
- 9,952 SF of total living area
- 7,500 SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$183,847
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,676,940
$3.7M
Cap Rate 7%
$2,626,386
$2.6M
Cap Rate 9%
$2,042,744
$2.0M
Market Conditions
NOI Build-Up for 9,952 SF
Gross rent
$358.3K $36.00/SF
− Vacancy
−$24.0K −$2.41/SF
EGI
$334.3K $33.59/SF
− OpEx
−$150.4K −$15.11/SF
NOI
$183.8K $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 Rate 5%
$3,676,940
Cap Rate 7%
$2,626,386
Cap Rate 9%
$2,042,744
Alternative Uses
Best Use
Apartment 5plus
$2.63M
$2.30M – $3.06M
NOI $183,847 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.72M
$5.88M – $7.84M
NOI $470,236 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Constructed in 2016 with covered parking on site.
Where is this apartment building located?
The property is located at 1244 Northwest 5th Street Miami, FL.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 10‑unit multifamily building completed in 2016; 9,952 SF of total living area; 7,500 SF lot
