32-Unit Apartment
For Sale
$7,000,000
18101 NW 7th Ave, Miami Gardens, FL 33169
Capital upgrades include a new roof, PVC plumbing, and a resurfaced parking area.
Property Size23,635 SF
Days on Market14
Property Features for 18101 NW 7th Ave
General Information
Standard status
Active
Size
23,635 SF
Property subtype
Commercial
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Cap Rate
6.6%
Multifamily Units
32
Building Details
Building Size
23,635 SF
Year Built
1968
Listing Agency:
Trustpoint Realty, LLC.
Listed By:
Andres Villarreal · License #3606293
(754) 736-0335
Source:
Elliman
Added: Sep 10
Changed: Sep 17
Last Checked: Sep 22 at 4:02PM
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 Trustpoint Realty, LLC.
Investment Insights
Based on property information with market context.
This 32-unit apartment property was built in 1968 and occupies more than one acre in Miami Gardens. The unit mix is weighted toward two-bedroom apartments, with on-site parking serving the residential community. Recent physical improvements include a roof installed in 2026, replacement of cast-iron plumbing with PVC, and resurfacing of the parking lot.
The property is located at 18101 NW 7th Ave with access to major roadways, public transportation, shopping, and employment centers across Miami-Dade County. WalkScore is 70, TransitScore is 52, and BikeScore is 44. The reported capitalization rate is 6.6%.
The property is located at 18101 NW 7th Ave with access to major roadways, public transportation, shopping, and employment centers across Miami-Dade County. WalkScore is 70, TransitScore is 52, and BikeScore is 44. The reported capitalization rate is 6.6%.
Key Highlights
- 32‑unit apartment property on more than one acre
- Unit mix consists mainly of two‑bedroom apartments
- New roof installed in 2026
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
$314,272
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
4.49%
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%
$6,285,440
$6.3M
Cap Rate 7%
$4,489,600
$4.5M
Cap Rate 9%
$3,491,911
$3.5M
Market Conditions
NOI Build-Up for 23,635 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
$584.3K $24.72/SF
− Vacancy
−$12.9K −$0.54/SF
EGI
$571.4K $24.18/SF
− OpEx
−$257.1K −$10.88/SF
NOI
$314.3K $13.30/SF
Area
Miami Gardens, FL
Vacancy
2.20%
Lease Rate
$24.72 /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%
$6,285,440
Cap Rate 7%
$4,489,600
Cap Rate 9%
$3,491,911
Alternative Uses
Best Use
Apartment 5plus
$4.49M
$3.93M – $5.24M
NOI $314,272 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.04M
$6.16M – $8.21M
NOI $492,553 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
32
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,602
Businesses Nearby
Explore this area
Business Placement
Demographics for 33169, FL
42,308
Population
14,815
Households
2.9
Avg Household Size
37
Median Age
22%
College-Educated
85%
High-School Grad
6.8 sq mi
ZIP Area
6,222
Density / Sq Mi
$59,686
Median Household Income
$34,327
Median Earnings
$1,536
Median Rent
$352,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Capital upgrades include a new roof, PVC plumbing, and a resurfaced parking area.
Where is this apartment building located?
The property is located at 18101 NW 7th Ave Miami Gardens, FL.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 32‑unit apartment property on more than one acre; Unit mix consists mainly of two‑bedroom apartments; New roof installed in 2026
