Building Details

Building Size 3,290 SF

Year Built 1957

Listing Agency: Compass Florida, LLC

Listed By: Jesse Spencer · License #3282789 Show Phone

Source: Casacollectiongroup

Added: May 13 Changed: Oct 11 Last Checked: Oct 9 at 11:30PM

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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 Compass Florida, LLC

Investment Insights

Based on property information with market context.

Located in Miami's Shenandoah corridor, 2190 SW 14th Terrace is a fully renovated, turnkey, 100% leased 6-unit multifamily property. The property generates a stabilized in-place income of $132,000 annually, with all leases running through mid-2027. A comprehensive renovation in 2020 included a new roof, hurricane-rated impact windows and doors, individual mini-split HVAC (central AC in one unit), new electrical systems, perimeter fencing, a full interior renovation with new tile flooring, kitchens and bathrooms, coinless laundry (owned), and tankless water heaters. The unit mix consists of 2 studios, each approximately 450 square feet, and 4 one-bed/one-bath apartments, each approximately 600 square feet. Each unit has an assigned on-site parking space. The property is centrally positioned minutes from Brickell, the Health District, Coral Gables, Coconut Grove, and Calle Ocho. Shenandoah is at a higher elevation than Miami's coastal submarkets.

Key Highlights

• Fully renovated in 2020 with new roof, impact windows/doors, mini‑split HVAC (central AC in one unit), electrical, and interior finishes.
• 100% leased 6‑unit multifamily property providing stabilized in‑place income of $132,000 annually.**
• All leases run through mid‑2027.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$60,777

Cap Rate

3.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,215,540 $1.2M

Cap Rate 7%

$868,243 $868.2K

Cap Rate 9%

$675,300 $675.3K

Market Conditions

NOI Build-Up for 3,290 SF

Gross rent

$118.4K $36.00/SF

− Vacancy

−$7.9K −$2.41/SF

EGI

$110.5K $33.59/SF

− OpEx

−$49.7K −$15.11/SF

NOI

$60.8K $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 Rate 5%

$1,215,540

Cap Rate 7%

$868,243

Cap Rate 9%

$675,300

Alternative Uses

Best Use

Apartment 5plus

$868.2K

$759.7K – $1.01M (±1% cap)

NOI $60,777 @ 7.0% cap · market cap 3.68%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$2.22M

$1.94M – $2.59M (±1% cap)

NOI $155,454 @ 7.0% cap · market cap 9.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Parking Lot & Garage Carpet & Flooring Store Electrical Service Real Estate Agency Restaurant (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,352

Businesses Nearby

Explore this area Business Placement

Demographics for 33145, FL

29,737

Population

12,773

Households

2.3

Avg Household Size

44

Median Age

42%

College-Educated

85%

High-School Grad

2.5 sq mi

ZIP Area

11,895

Density / Sq Mi

$70,592

Median Household Income

$43,039

Median Earnings

$1,769

Median Rent

$560,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Fully renovated, 6-unit multifamily property in Miami's Shenandoah corridor.

Where is this apartment building located?

The property is located at 2190 SW 14th Ter Miami, FL.

What is the asking price?

The asking price for this property is $1,650,000.

What are key features of this property?

This property features: Fully renovated in 2020 with **new roof, impact windows/doors, mini‑split HVAC (central AC in one unit), electrical, and interior finishes.**; 100% leased 6‑unit multifamily property providing stabilized in‑place income of $132,000 annually.**; All leases run through mid‑2027.