Multifamily Income
For Sale
$9,500,000
2311 NW 22nd Avenue, Miami, FL 33142
Multifamily income property near Jackson Memorial Hospital and other Miami destinations.
Property Size40,199 SF
Price / SF$236.32
Days on Market151
Property Features for 2311 NW 22nd Avenue
General Information
Standard status
Active
Size
40,199 SF
Property subtype
Quadruplex
Additional Details
Cap Rate
4.53%
Building Details
Year Built
2023
Listing Agency:
A & D Group Realty LLC
(305) 372-9202
Listed By:
Americo Dagostini · License #A12045812
(786) 897-1843
Source:
Lehmannflorida
Added: Apr 11
Changed: Sep 7
Last Checked: Sep 7 at 7:22AM
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.
Offered for sale, this income-focused multifamily property is presented with supporting NOI proforma figures for both traditional multifamily and short-term rental use. The provided multifamily NOI proforma is US$493,860 with a 4.53% cap rate. A separate Airbnb NOI proforma range is shown at US$740,439–US$1,028,387, with cap rate range of 6.79% to 9.43%, reflecting the owner’s stated strategy of capital preservation and exposure to a major market.
The property is located at 2311 NW 22nd Ave, Miami, FL 33142, and the remarks describe its proximity to Jackson Memorial Hospital plus nearby Miami destinations including Brickell, Wynwood, the Design District, Downtown, museums, and beaches.
The property is located at 2311 NW 22nd Ave, Miami, FL 33142, and the remarks describe its proximity to Jackson Memorial Hospital plus nearby Miami destinations including Brickell, Wynwood, the Design District, Downtown, museums, and beaches.
Key Highlights
- Multifamily income property near Jackson Memorial Hospital in Miami
- Close to Brickell, Wynwood, Design District, Downtown, museums, and beaches
- Multifamily NOI proforma: US$493,860 with a 4.53% cap rate
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
$742,612
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
7.82%
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%
$14,852,240
$14.9M
Cap Rate 7%
$10,608,743
$10.6M
Cap Rate 9%
$8,251,244
$8.3M
Market Conditions
NOI Build-Up for 40,199 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
$1.45M $36.00/SF
− Vacancy
−$97.0K −$2.41/SF
EGI
$1.35M $33.59/SF
− OpEx
−$607.6K −$15.11/SF
NOI
$742.6K $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%
$14,852,240
Cap Rate 7%
$10,608,743
Cap Rate 9%
$8,251,244
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,595
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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?
Short term rental property - Multifamily income property near Jackson Memorial Hospital and other Miami destinations.
Where is this short term rental property located?
The property is located at 2311 NW 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: Multifamily income property near Jackson Memorial Hospital in Miami; Close to Brickell, Wynwood, Design District, Downtown, museums, and beaches; Multifamily NOI proforma: US$493,860 with a 4.53% cap rate
