Modern Apartment Building with
1620 NW 18th Street, Miami, FL 33125
For Sale
$5,200,000
Newly built multifamily property with contemporary finishes, varied floor plans, and highway connectivity.
Property Size14,879 SF
Lot Size0.16 Acres
Price / SF$349.49
Days on Market50
Property Features for 1620 NW 18th Street
General Information
Standard status
Size
Net Rentable
Lot size
Zoning
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
private balconies
wheelchair lift
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
MSP Group, LLC
Listed By:
Demosthenes Mekras · License FL #0704134
(786) 208-2684
Source:
Laerrealty
Added: Sep 22
Changed: Nov 8
Last Checked: Nov 10 at 5:25AM
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 MSP Group, LLC
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Investment Insights
Based on property information with market context.
The Lola Apartments is a 2025-built, three-story apartment building containing 20 units and 14,879 gross square feet, including 10,246 square feet of net rentable space. The 7,150-square-foot site includes a unit mix of studios, one-bedroom residences, and two-bedroom residences. Interior features include white shaker cabinetry, quartz countertops, stainless steel appliances, wood-style vinyl plank flooring, full bathtubs, and walk-in closets in select homes. Corner units add private balconies behind floor-to-ceiling glass sliding doors. Air conditioning is provided through central systems in select units and mini-splits elsewhere. Electric service is individually metered, and a wheelchair lift provides access throughout the property.
The property is located at 1620 NW 18th Street in Miami. The Dolphin Expressway is less than one mile away, while I-95 is under two miles from the building, providing access across Miami-Dade and Broward counties. The property is identified under zoning designation 4601.
The property is located at 1620 NW 18th Street in Miami. The Dolphin Expressway is less than one mile away, while I-95 is under two miles from the building, providing access across Miami-Dade and Broward counties. The property is identified under zoning designation 4601.
Key Highlights
- 20‑unit, three‑story apartment building completed in 2025
- 14,879 gross square feet with 10,246 square feet of net rentable space
- Unit mix includes 5 studios, 9 one‑bedroom units, and 6 two‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$274,866
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,497,320
$5.5M
Cap Rate 7%
$3,926,657
$3.9M
Cap Rate 9%
$3,054,067
$3.1M
Market Conditions
NOI Build-Up for 14,879 SF
Gross rent
$535.6K $36.00/SF
− Vacancy
−$35.9K −$2.41/SF
EGI
$499.8K $33.59/SF
− OpEx
−$224.9K −$15.11/SF
NOI
$274.9K $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%
$5,497,320
Cap Rate 7%
$3,926,657
Cap Rate 9%
$3,054,067
Alternative Uses
Best Use
Apartment 5plus
$3.93M
$3.44M – $4.58M
NOI $274,866 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.04M
$8.79M – $11.72M
NOI $703,039 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
20
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,726
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
$377,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Miami, FL
Properties on Market for Apartment buildings in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Newly built multifamily property with contemporary finishes, varied floor plans, and highway connectivity.
Where is this apartment building located?
The property is located at 1620 NW 18th Street Miami, FL.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: 20‑unit, three‑story apartment building completed in 2025; 14,879 gross square feet with 10,246 square feet of net rentable space; Unit mix includes 5 studios, 9 one‑bedroom units, and 6 two‑bedroom units
