Fourplex Near loanDepot
For Sale
$990,000
221 Nw 16th Ave, Miami, FL 33125
T5-L zoning designates this four-unit rental property for an Urban Center district.
Property Size1,890 SF
Price / SF$523.81
Days on Market15
Property Features for 221 Nw 16th Ave
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Residential Income
Zoning
T5-L (Urban Center)
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,634
Building Details
Buildings
1
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Ismaris Texidor · License #3170107
(786) 647-0688
Source:
Exprealty
Added: Sep 25
Changed: Oct 2
Last Checked: Oct 7 at 5:38PM
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 four-unit residential income property is zoned T5-L, an Urban Center designation. Its location is one block from loanDepot Park, with connections to Calle Ocho, Downtown Miami, Brickell, SR-836, and I-95.
The property is in Miami and offers four residential units in a single multifamily asset.
The property is in Miami and offers four residential units in a single multifamily asset.
Key Highlights
- Four‑unit multifamily property
- T5‑L (Urban Center) zoning
- One block from loanDepot Park
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,905
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$758,100
$758.1K
Cap Rate 7%
$541,500
$541.5K
Cap Rate 9%
$421,167
$421.2K
Market Conditions
NOI Build-Up for 1,890 SF
Gross rent
$57.8K $30.60/SF
− Vacancy
−$3.7K −$1.95/SF
EGI
$54.1K $28.65/SF
− OpEx
−$16.2K −$8.60/SF
NOI
$37.9K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$758,100
Cap Rate 7%
$541,500
Cap Rate 9%
$421,167
Alternative Uses
Best Use
Multifamily LT 5
$541.5K
$473.8K – $631.8K
NOI $37,905 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$498.8K
$436.4K – $581.9K
NOI $34,915 @ 7.0% cap · market cap 3.53%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,303 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,802
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - T5-L zoning designates this four-unit rental property for an Urban Center district.
Where is this quadplex located?
The property is located at 221 Nw 16th Ave Miami, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Four‑unit multifamily property; T5‑L (Urban Center) zoning; One block from loanDepot Park
