New 23-Unit Multifamily
2311 Northwest 22nd Avenue Miami, FL 33142
2311 Northwest 22nd Avenue, Miami, FL, 33142
$9,500,000
For Sale
$9,500,000
Four-story, newly constructed 23-unit multifamily property completed in June 2023 with covered parking and storage units.
Property Size40,199 SF
Price / SF$236.32
Days on Market52
Property Features for 2311 Northwest 22nd Avenue
General Information
- Standard status
- Active
- Size
- 40,199 SF
- Property subtype
- Multi-Family Income / Fourplex
Building Details
- Year Built
- 2016
Listing agency
A & D Group Realty LLC
(305) 372-9202
Listed by
Americo Dagostini · License #3014532
(305) 372-9202
Source
Compass
Added: Jun 1 Updated: Jul 21 at 4:52PM Checked: Jul 21 at 4:52PM
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 A & D Group Realty LLC
Investment Insights
Based on property information with market context.
Newly constructed four-story multifamily property completed in June 2023, offering 23 residential units. The building features modern architecture and high-quality finishes, with 29 covered parking spaces. Additional on-site amenities include 12 storage units.
The property is located at 2311 Northwest 22nd Avenue in Miami, Florida. It sits within a designated Opportunity Zone, and the area is described as rapidly evolving with connectivity to major transportation corridors and nearby retail, dining, and entertainment destinations.
Currently, 96% of units are leased and the property reports a stable in-place NOI of $480,918, supporting immediate income at acquisition.
The property is located at 2311 Northwest 22nd Avenue in Miami, Florida. It sits within a designated Opportunity Zone, and the area is described as rapidly evolving with connectivity to major transportation corridors and nearby retail, dining, and entertainment destinations.
Currently, 96% of units are leased and the property reports a stable in-place NOI of $480,918, supporting immediate income at acquisition.
Key Highlights
- Newly constructed 23‑unit multifamily completed June 2023 at 2321 NW 22nd Avenue in Miami, FL
- Four‑story building with 29 covered parking spaces
- Stable in‑place NOI of $480,918 and 96% of units currently leased
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 | $1.45M | $36.00 |
| − Vacancy | −$97.0k | −$2.41 |
| EGI | $1.35M | $33.59 |
| − OpEx | −$607.6k | −$15.11 |
| NOI | $742.6k | $18.47 |
40,199 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$10.61M
$9.28M – $12.38M
NOI $742,612 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$27.13M
$23.74M – $31.66M
NOI $1,899,421 @ 7.0% cap · market cap 19.99%
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 - Four-story, newly constructed 23-unit multifamily property completed in June 2023 with covered parking and storage units.
Where is this apartment building located?
The property is located at 2311 Northwest 22nd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Newly constructed 23‑unit multifamily completed June 2023 at 2321 NW 22nd Avenue in Miami, FL; Four‑story building with 29 covered parking spaces; Stable in‑place NOI of $480,918 and 96% of units currently leased
