1427 NW 2nd Avenue, Florida City, FL 33034
For Sale
$2,399,000
Apartment buildings
Property Size5,206 SF
Days on Market55
Property Features for 1427 NW 2nd Avenue
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Real Broker, LLC
Listed By:
Richard M DiPietro · License #3659026
(347) 693-2995
Source:
Relinkre
Added: Sep 16
Changed: Nov 7
Last Checked: Nov 8 at 2:34PM
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 Real Broker, LLC
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,785
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,615,700
$1.6M
Cap Rate 7%
$1,154,071
$1.2M
Cap Rate 9%
$897,611
$897.6K
Market Conditions
NOI Build-Up for 5,206 SF
Gross rent
$157.4K $30.24/SF
− Vacancy
−$10.5K −$2.03/SF
EGI
$146.9K $28.21/SF
− OpEx
−$66.1K −$12.70/SF
NOI
$80.8K $15.52/SF
Area
Miami-Dade County, FL
Vacancy
6.70%
Lease Rate
$30.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,615,700
Cap Rate 7%
$1,154,071
Cap Rate 9%
$897,611
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,785 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.49M – $3.32M
NOI $199,001 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,389
Businesses Nearby
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Business Placement
Demographics for 33034, FL
22,850
Population
6,631
Households
3.4
Avg Household Size
34
Median Age
9%
College-Educated
65%
High-School Grad
1,173.1 sq mi
ZIP Area
19
Density / Sq Mi
$46,404
Median Household Income
$31,712
Median Earnings
$1,283
Median Rent
$310,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Miami-Dade County, FL
Properties on Market for Apartment buildings in Miami-Dade County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
Where is this apartment building located?
The property is located at 1427 NW 2nd Avenue Florida City, FL.
What is the asking price?
The asking price for this property is $2,399,000.
