Multifamily Income
For Sale
$22,000,000
275 NE 18th Street Unit CU02-CU10, Miami, FL 33132
Apartment-style multifamily property for sale in Miami-Dade County with residential income use.
Property Size51,178 SF
Price / SF$429.87
Days on Market98
Property Features for 275 NE 18th Street Unit CU02-CU10
General Information
Standard status
Active
Size
51,178 SF
Property subtype
Commercial
Lease Term
[]
Listing Agency:
Xfera Realty Group,LLC.
Listed By:
Oreste Leccese Guerrero · License #3392288
(305) 781-6490
Source:
Onesothebysrealty
Added: Jun 19
Changed: Sep 11
Last Checked: Sep 24 at 10:02AM
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 Xfera Realty Group,LLC.
Investment Insights
Based on property information with market context.
This offering is a multifamily residential income property, categorized as an apartment building and other apartment building. It is presented for sale and is intended for residential income use, offering an investor or operator the opportunity to evaluate the asset as an apartment-style property.
The property is located in Miami-Dade County at 275 NE 18th St CU02-CU10, Miami, FL 33132. The listing identifies the asset at this specific address, providing a clear starting point for access, title review, and due diligence inquiries.
For buyers and brokers underwriting multifamily acquisitions, the primary takeaway is the property type and intended use as a residential income asset. Prospective purchasers should plan to review the building details during diligence, including the scope of the improvement(s) associated with the CU02-CU10 designation, as well as any available information related to current operations and rent roll. This listing is best suited for parties seeking an apartment building format within Miami-Dade County and who want to confirm all operational and financial details directly as part of the acquisition process.
The property is located in Miami-Dade County at 275 NE 18th St CU02-CU10, Miami, FL 33132. The listing identifies the asset at this specific address, providing a clear starting point for access, title review, and due diligence inquiries.
For buyers and brokers underwriting multifamily acquisitions, the primary takeaway is the property type and intended use as a residential income asset. Prospective purchasers should plan to review the building details during diligence, including the scope of the improvement(s) associated with the CU02-CU10 designation, as well as any available information related to current operations and rent roll. This listing is best suited for parties seeking an apartment building format within Miami-Dade County and who want to confirm all operational and financial details directly as part of the acquisition process.
Key Highlights
- Apartment‑style multifamily property in Miami‑Dade County, available for residential income use
- Central Air cooling and central heating
- Assigned, common, covered parking
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
$945,432
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
4.30%
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%
$18,908,640
$18.9M
Cap Rate 7%
$13,506,171
$13.5M
Cap Rate 9%
$10,504,800
$10.5M
Market Conditions
NOI Build-Up for 51,178 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
$1.84M $36.00/SF
− Vacancy
−$123.4K −$2.41/SF
EGI
$1.72M $33.59/SF
− OpEx
−$773.5K −$15.11/SF
NOI
$945.4K $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%
$18,908,640
Cap Rate 7%
$13,506,171
Cap Rate 9%
$10,504,800
Alternative Uses
Best Use
Apartment 5plus
$13.51M
$11.82M – $15.76M
NOI $945,432 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$34.55M
$30.23M – $40.30M
NOI $2,418,184 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 33132, FL
18,159
Population
12,725
Households
1.4
Avg Household Size
35
Median Age
61%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
12,106
Density / Sq Mi
$109,505
Median Household Income
$71,509
Median Earnings
$2,534
Median Rent
$545,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment-style multifamily property for sale in Miami-Dade County with residential income use.
Where is this apartment building located?
The property is located at 275 NE 18th Street Unit CU02-CU10 Miami, FL.
What is the asking price?
The asking price for this property is $22,000,000.
What are key features of this property?
This property features: Apartment‑style multifamily property in Miami‑Dade County, available for residential income use; Central Air cooling and central heating; Assigned, common, covered parking
