Miami Multifamily Investment
1343 NW 1st St, Miami, FL 33125
22-unit property in Little Havana, prime location for real estate venture.
Type:Multifamily
Property size:
24,051 SFPrice / SF:
$299/SF- Added:
- Feb 6, 2026
- Days on Market:
- 142
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 1343 NW 1st St
General Information
- Standard status
- Active
- Size
- 24,051 SF
- Property subtype
- Multifamily
Listing office GREA
Listing date Feb 6, 2026
Source Crexi
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 GREA
HighLights
- Prime location in Miami's Little Havana, a dynamic and evolving neighborhood.
- Excellent investment opportunity to capitalize on Miami's rapidly growing real estate market.
- Strong connectivity with easy access to major highways and public transit.
- Potential for multifamily, mixed‑use, or short‑term rental development.
- Located in a vibrant cultural hub with thriving local businesses.
- Situated in an area undergoing urban renewal, with zoning allowances that provide flexibility.
Overview
Located in Miami's Little Havana neighborhood, this property at 1343 Northwest 1st Street features an existing 22-unit building. The site is positioned in a dynamic and evolving area, presenting an opportunity to capitalize on Miami’s growing real estate market. The location is near major transportation routes and commercial corridors, making it suitable for multifamily, mixed-use, or short-term rental developments. The property benefits from its connectivity, with access to major highways including I-95, US-1, and the Dolphin Expressway, as well as public transit options like the Metrorail and Metrobus networks. The surrounding neighborhood is a cultural hub with local businesses and dining. Little Havana is attracting new developments, while the Brickell financial district and Downtown Miami are experiencing economic growth, increasing the demand for housing and retail spaces. The area is undergoing urban renewal, creating opportunities for developers. The demand for affordable and workforce housing in Miami reinforces the value of this investment. The property's zoning provides flexibility for various operational approaches, presenting an opportunity for investors seeking long-term profitability.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $865.8k | $36.00 |
| − Vacancy | −$58.0k | −$2.41 |
| EGI | $807.8k | $33.59 |
| − OpEx | −$363.5k | −$15.11 |
| NOI | $444.3k | $18.47 |
24,051 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.35M
$5.55M – $7.41M
NOI $444,304 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$16.23M
$14.21M – $18.94M
NOI $1,136,421 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Roami at Metro Park
Homestay
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.217072
- Latitude
- 25.774689
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 22-unit property in Little Havana, prime location for real estate venture.
Where is this apartment building located?
The property is located at 1343 NW 1st St Miami, FL.
What is the asking price?
The asking price for this property is $7,200,000.
What are key features of this property?
This property features: Prime location in Miami's Little Havana, a dynamic and evolving neighborhood.; Excellent investment opportunity to capitalize on Miami's rapidly growing real estate market.; Strong connectivity with easy access to major highways and public transit.
