27-Unit Apartment Building with
For Sale
$8,200,000
2400 NW 16th St Rd, Miami, FL 33125
Apartment building featuring central A/C, swimming pool, new elevator, and impact windows with ample on-site parking.
Property Size25,899 SF
Price / SF$316.61
Days on Market9
Property Features for 2400 NW 16th St Rd
General Information
Standard status
Active
Size
25,899 SF
Elevators
Yes
Occupancy
100%
Additional Details
Cap Rate
7%
Multifamily Units
27
Amenities
central A/C
swimming pool
laundry facilities
impact windows and doors
Building Details
Year Built
1974
Listing Agency:
The Keyes Company
(954) 995-8360
Listed By:
Juan Garcia
Source:
Mymiahomes
Added: Jul 29
Changed: Jul 31
Last Checked: Aug 5 at 11:06AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This 27-unit apartment building (year built 1974) offers central A/C and resident amenities including a swimming pool and laundry facilities with new machines. Building improvements also include a new elevator and impact windows and doors. Ample parking is available for tenants and guests.
All units are currently under contract, with most leases recently renewed through May 2027, supporting near-term income stability. The property is positioned in the heart of Little Havana, just minutes from Brickell, Downtown Miami, and Coral Gables.
The current cap rate is 7%. The property is designed for multifamily operations, with on-site laundry and parking, and recent upgrades that can support day-to-day maintenance and tenant experience.
All units are currently under contract, with most leases recently renewed through May 2027, supporting near-term income stability. The property is positioned in the heart of Little Havana, just minutes from Brickell, Downtown Miami, and Coral Gables.
The current cap rate is 7%. The property is designed for multifamily operations, with on-site laundry and parking, and recent upgrades that can support day-to-day maintenance and tenant experience.
Key Highlights
- 27‑unit apartment building with swimming pool
- Most leases recently renewed through May 2027; all units currently under contract
- Central A/C plus impact windows and doors
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 | $932.4k | $36.00 |
| − Vacancy | −$62.5k | −$2.41 |
| EGI | $869.9k | $33.59 |
| − OpEx | −$391.5k | −$15.11 |
| NOI | $478.4k | $18.47 |
25,899 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.83M
$5.98M – $7.97M
NOI $478,443 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$17.48M
$15.30M – $20.40M
NOI $1,223,739 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
27
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,803
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building featuring central A/C, swimming pool, new elevator, and impact windows with ample on-site parking.
Where is this apartment building located?
The property is located at 2400 NW 16th St Rd Miami, FL.
What is the asking price?
The asking price for this property is $8,200,000.
What are key features of this property?
This property features: 27‑unit apartment building with swimming pool; Most leases recently renewed through May 2027; all units currently under contract; Central A/C plus impact windows and doors
