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    Renovated Coral Gables Multifamily Asset Title is generated by Realmo AI

    1610 Salzedo St, Coral Gables, FL 33134

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    Renovated 12-unit multifamily property in the heart of Coral Gables.

    Type:Multifamily
    Property size:
    5,526 SF
    Price / SF:
    $673/SF
    Added:
    Feb 25, 2026
    Days on Market:
    81
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 1610 Salzedo St

    General Information

    Standard status
    Active
    Size
    5,526 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1926

    We can help!

    Listing Contact
    Chris Canizares

    Listing agent Chris Canizares License #3593754

    Listing office Fausto Commercial Realty Consultants

    Listing date Feb 25, 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 Fausto Commercial Realty Consultants

    HighLights

    • Stabilized 12‑unit multi‑family asset in the heart of Coral Gables.
    • Strong in‑place income with a true NOI of $170,000 per year.
    • Professionally managed with no deferred maintenance and high‑quality tenants.
    • Located in a desirable residential neighborhood with beautiful architecture and walkability.
    • Large, highly attractive and sought after deco studios.
    • Building is fully up to date on all re‑certifications and fully permitted as of 2026.

    Overview

    Located in Coral Gables, this renovated and stabilized 12-unit multifamily asset is a deco-style building with strong in-place income, professional management, and long-term appreciation potential. The building is in beautiful condition, with common areas and outdoor garden spaces tastefully appointed by a landscape and interior designer. The property consists of large, highly attractive and sought after deco studios. The buildings are professionally managed, with no deferred maintenance and all vetted high-quality tenants, to assure smoothly operating long-term investment. The current rent roll generates $262k gross per year, yielding a true NOI of $170,000. Situated in one of Coral Gables' nicest residential neighborhoods, the location features beautiful architecture, lush treescapes, and walkability, assuring a long trajectory of sustained rent and value growth. The building is fully up to date on all re-certifications and fully permitted as of 2026. The property size is 5526 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Coral Gables
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.26076
    Latitude
    25.756777

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    FAQs

    What type of property is this?
    Apartment building - Renovated 12-unit multifamily property in the heart of Coral Gables.
    Where is this apartment building located?
    The property is located at 1610 Salzedo St Coral Gables, FL.
    What is the asking price?
    The asking price for this property is $3,720,000.
    What are key features of this property?
    This property features: Stabilized 12‑unit multi‑family asset in the heart of Coral Gables.; Strong in‑place income with a true NOI of $170,000 per year.; Professionally managed with no deferred maintenance and high‑quality tenants.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chris Canizares
    Real Estate License ID: 3593754
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    1610 Salzedo St, Coral Gables, FL 33134
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