22-Unit Apartment
For Sale
$4,500,000
2170 NW Flagler Ter, Miami, FL 33125
Residential Income, Miami, FL
Property Size13,530 SF
Price / SF$332.59
Days on Market50
Property Features for 2170 NW Flagler Ter
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
4600
Bedrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Parking
22
Subdivision
EVANSTON HEIGHTS
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
01-41-03-013-0610
Size
13,530 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
EVANSTON HGTS PB 1-56 LOTS 8 & 9 BLK 4 LOT SIZE 17800 SQUARE FEET OR 15216-772 1091 1 COC 23680-0199 07 2005 1
Tax Annual Amount
52316
Legal Description
EVANSTON HGTS PB 1-56 LOTS 8 & 9 BLK 4 LOT SIZE 17800 SQUARE FEET OR 15216-772 1091 1 COC 23680-0199 07 2005 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1958
Floors in Building
2
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Concrete
Architectural style
Other
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Antonio Cristobal · License #3253230
(786) 457-3211
Added: Jul 6
Changed: Aug 19
Last Checked: Aug 24 at 10:06PM
MLS# A12049003
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 22-unit apartment building contains 13,530 square feet and was constructed in 1958. Block construction, a concrete roof, ceramic tile flooring, central heating, and central air are among the property’s documented features. Public sewer service supports the building, and the property is currently 100% occupied.
The Miami property is positioned for access to Downtown Miami, Brickell, Coral Gables, the Miami Health District, and major expressways. Its location is also described as being within an area experiencing redevelopment and population growth.
The Miami property is positioned for access to Downtown Miami, Brickell, Coral Gables, the Miami Health District, and major expressways. Its location is also described as being within an area experiencing redevelopment and population growth.
Key Highlights
- 22‑unit multifamily property with 13,530 square feet
- 100% occupied
- Block construction with a concrete roof
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
$249,945
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
5.55%
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%
$4,998,900
$5.0M
Cap Rate 7%
$3,570,643
$3.6M
Cap Rate 9%
$2,777,167
$2.8M
Market Conditions
NOI Build-Up for 13,530 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
$487.1K $36.00/SF
− Vacancy
−$32.6K −$2.41/SF
EGI
$454.4K $33.59/SF
− OpEx
−$204.5K −$15.11/SF
NOI
$249.9K $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 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%
$4,998,900
Cap Rate 7%
$3,570,643
Cap Rate 9%
$2,777,167
Alternative Uses
Best Use
Apartment 5plus
$3.57M
$3.12M – $4.17M
NOI $249,945 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.13M
$7.99M – $10.65M
NOI $639,299 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,167
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
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 - Fully occupied multifamily property with central heating, central air, ceramic tile flooring, and public sewer service.
Where is this apartment building located?
The property is located at 2170 NW Flagler Ter Miami, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 22‑unit multifamily property with 13,530 square feet; 100% occupied; Block construction with a concrete roof
