Concrete Block 12-Unit
2151 NE 168th St North Miami Beach, FL 33162
2151 NE 168th St, North Miami Beach, FL, 33162
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For Sale
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Built in 1978, this 12-unit concrete block multifamily offers one- and two-bedroom layouts totaling approximately 10,284 square feet.
Property Size10,284 SF
Price / SF$243.10
Days on Market56
Property Features for 2151 NE 168th St
General Information
- Standard status
- Active
- Size
- 10,284 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1968
Listing agency
Cube Realty
(305) 932-6122
Listed by
Daisy Danna · License #3165032
Source
Crexi
Added: May 29 Updated: Jul 22 at 4:00PM Checked: Jul 22 at 4:00PM
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 Cube Realty
Investment Insights
Based on property information with market context.
Built in 1978, this stable 12-unit multifamily property is constructed with durable concrete block and stucco finishes under gable roofs. The building includes (10) 1-bedroom, 1-bath loft-style units and (2) 2-bedroom, 1-bath units, totaling approximately 10,284 square feet of space.
Conveniently positioned just minutes from Greynolds Park and Oleta River Park, the property is also about 1.5 miles northwest of the FIU Biscayne Bay Campus. It offers immediate access to Biscayne Boulevard and I-95, with Aventura Mall less than 9 minutes away.
The listed unit mix supports a projected 6.25% capitalization rate based on market-rate rent optimization, according to the current offering materials.
Conveniently positioned just minutes from Greynolds Park and Oleta River Park, the property is also about 1.5 miles northwest of the FIU Biscayne Bay Campus. It offers immediate access to Biscayne Boulevard and I-95, with Aventura Mall less than 9 minutes away.
The listed unit mix supports a projected 6.25% capitalization rate based on market-rate rent optimization, according to the current offering materials.
Key Highlights
- 12‑unit multifamily built in 1978 with concrete block construction, stucco finish, and gable roofs
- Approx. 10,284 total SF across (10) 1BD/1BA and (2) 2BD/1BA units
- (10) 1BD/1BA lofts averaging ±650 SF each (6,500 SF total rentable)
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $301.1k | $29.28 |
| − Vacancy | −$13.6k | −$1.32 |
| EGI | $287.6k | $27.96 |
| − OpEx | −$129.4k | −$12.58 |
| NOI | $158.2k | $15.38 |
10,284 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.26M
$1.98M – $2.64M
NOI $158,161 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.22M
$4.57M – $6.09M
NOI $365,225 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Built in 1978, this 12-unit concrete block multifamily offers one- and two-bedroom layouts totaling approximately 10,284 square feet.
Where is this apartment building located?
The property is located at 2151 NE 168th St North Miami Beach, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 12‑unit multifamily built in 1978 with concrete block construction, stucco finish, and gable roofs; Approx. 10,284 total SF across (10) 1BD/1BA and (2) 2BD/1BA units; (10) 1BD/1BA lofts averaging ±650 SF each (6,500 SF total rentable)
