22-Unit New Construction Apartment
For Sale
$9,000,000
171 Northwest 158th Street, Miami, FL 33169
Consistent three-bedroom residences offer two-and-a-half baths, supporting a uniform multifamily configuration.
Property Size30,272 SF
Price / SF$297.30
Days on Market811
Property Features for 171 Northwest 158th Street
General Information
Standard status
Active
Size
30,272 SF
Property subtype
Commercial/Industrial / Income/Multi Family
Taxes and HOA fees
Annual Taxes
$100,105
Building Details
Year Built
2019
Listing Agency:
Global Investments Realty
Listed By:
Louis McMillian · License #3151122
(305) 635-3005
Source:
Compass
Added: Aug 1, 2024
Changed: Oct 19
Last Checked: Oct 19 at 8:49AM
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 Global Investments 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.
Completed in 2019, this apartment property contains 22 units with a consistent residential layout. Each unit measures 1,250 SF and includes 3 bedrooms and 2.5 bathrooms, creating a uniform configuration across the building.
Eleven units are currently rented to a single tenant operating through Airbnb. The property is positioned a few blocks east of I-95 and the 826/Palmetto Expressway, providing access to major regional transportation routes.
Eleven units are currently rented to a single tenant operating through Airbnb. The property is positioned a few blocks east of I-95 and the 826/Palmetto Expressway, providing access to major regional transportation routes.
Key Highlights
- 22 apartment units completed in 2019
- Each unit contains 1,250 SF with 3 bedrooms and 2.5 bathrooms
- 11 units currently rented to one tenant operating through Airbnb
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$559,227
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,184,540
$11.2M
Cap Rate 7%
$7,988,957
$8.0M
Cap Rate 9%
$6,213,633
$6.2M
Market Conditions
NOI Build-Up for 30,272 SF
Gross rent
$1.09M $36.00/SF
− Vacancy
−$73.0K −$2.41/SF
EGI
$1.02M $33.59/SF
− OpEx
−$457.5K −$15.11/SF
NOI
$559.2K $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%
$11,184,540
Cap Rate 7%
$7,988,957
Cap Rate 9%
$6,213,633
Alternative Uses
Best Use
Apartment 5plus
$7.99M
$6.99M – $9.32M
NOI $559,227 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$20.43M
$17.88M – $23.84M
NOI $1,430,366 @ 7.0% cap · market cap 15.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
Explore this area
Business Placement
Demographics for 33169, FL
42,308
Population
14,815
Households
2.9
Avg Household Size
37
Median Age
22%
College-Educated
85%
High-School Grad
6.8 sq mi
ZIP Area
6,222
Density / Sq Mi
$59,686
Median Household Income
$34,327
Median Earnings
$1,536
Median Rent
$352,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Consistent three-bedroom residences offer two-and-a-half baths, supporting a uniform multifamily configuration.
Where is this apartment building located?
The property is located at 171 Northwest 158th Street Miami, FL.
What is the asking price?
The asking price for this property is $9,000,000.
What are key features of this property?
This property features: 22 apartment units completed in 2019; Each unit contains 1,250 SF with 3 bedrooms and 2.5 bathrooms; 11 units currently rented to one tenant operating through Airbnb
