22-Unit Apartment
For Sale
$4,500,000
2170 NW Flagler Terrace, Miami, FL 33125
Fully occupied multifamily asset with access to Downtown Miami, Brickell, Coral Gables, and the Miami Health District.
Property Size13,530 SF
Price / SF$332.59
Days on Market34
Property Features for 2170 NW Flagler Terrace
General Information
Standard status
Active
Size
13,530 SF
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Additional Details
Highway Access
Yes
Multifamily Units
22
Building Details
Year Built
1958
Listing Agency:
Real Estate Sales Force
Listed By:
Antonio Cristobal
(786) 453-3170
Source:
Onesothebysrealty
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 31 at 7:21PM
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 Real Estate Sales Force
Investment Insights
Based on property information with market context.
This 22-unit apartment property was built in 1958 and is reported to be 100% occupied. The asset is located at 2170 NW Flagler Terrace in Miami, Florida, providing an established multifamily configuration in an urban rental setting.
The property offers access to Downtown Miami, Brickell, Coral Gables, the Miami Health District, and major expressways. The surrounding area is described as experiencing redevelopment and population growth, placing the property within an active Miami market.
The property offers access to Downtown Miami, Brickell, Coral Gables, the Miami Health District, and major expressways. The surrounding area is described as experiencing redevelopment and population growth, placing the property within an active Miami market.
Key Highlights
- 22‑unit apartment property
- 100% occupancy reported
- Built in 1958
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 asset with access to Downtown Miami, Brickell, Coral Gables, and the Miami Health District.
Where is this apartment building located?
The property is located at 2170 NW Flagler Terrace 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 apartment property; 100% occupancy reported; Built in 1958
