Miami Multifamily Building For
For Sale
$3,500,000
Pending
17050 NW 55th Ave, Miami, FL 33055
Eleven-unit apartment building with recent upgrades in a prime location.
Property Size15,506 SF
Lot Size0.70 Acres
Days on Market280
Property Features for 17050 NW 55th Ave
General Information
Standard status
Pending
Size
15,506 SF
Lot size
0.70 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$31,993
Building Details
Building Size
15,506 SF
Year Built
1994
Stories
2
Listed By:
Lynda Harris
(954) 559-9816
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 16
Last Checked: Sep 2 at 9:05PM
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 Lynda Harris
Investment Insights
Based on property information with market context.
This eleven-unit apartment building is located in unincorporated Miami-Dade County on a 30,000 sq ft corner lot. The two-story walk-up building features eight units with 3 bedrooms and 2 bathrooms, and three units with 2 bedrooms and 1 bathroom. A laundry facility is located on site. The property includes assigned parking spaces, separate electric meters, and one water meter. A new roof and new impact windows were installed 4 months ago. The property is located near Walmart, Target, Costco and many restaurants, and is 2 miles from Miami Lakes.
Key Highlights
- New roof and impact windows installed 4 months ago.
- 11‑unit apartment building with a mix of 3‑bedroom/2‑bath and 2‑bedroom/1‑bath units.
- Located on a large 30,000 sq ft corner lot in unincorporated Miami‑Dade County.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$286,449
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,728,980
$5.7M
Cap Rate 7%
$4,092,129
$4.1M
Cap Rate 9%
$3,182,767
$3.2M
Market Conditions
NOI Build-Up for 15,506 SF
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.
Gross rent
$558.2K $36.00/SF
− Vacancy
−$37.4K −$2.41/SF
EGI
$520.8K $33.59/SF
− OpEx
−$234.4K −$15.11/SF
NOI
$286.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,728,980
Cap Rate 7%
$4,092,129
Cap Rate 9%
$3,182,767
Alternative Uses
Best Use
Apartment 5plus
$4.09M
$3.58M – $4.77M
NOI $286,449 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.47M
$9.16M – $12.21M
NOI $732,665 @ 7.0% cap · market cap 20.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,810
Businesses Nearby
Explore this area
Business Placement
Demographics for 33055, FL
42,950
Population
12,112
Households
3.5
Avg Household Size
42
Median Age
16%
College-Educated
76%
High-School Grad
6.0 sq mi
ZIP Area
7,158
Density / Sq Mi
$59,728
Median Household Income
$36,177
Median Earnings
$1,624
Median Rent
$341,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eleven-unit apartment building with recent upgrades in a prime location.
Where is this apartment building located?
The property is located at 17050 NW 55th Ave Miami, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: New roof and impact windows installed 4 months ago.; 11‑unit apartment building with a mix of 3‑bedroom/2‑bath and 2‑bedroom/1‑bath units.; Located on a large 30,000 sq ft corner lot in unincorporated Miami‑Dade County.
