16-Unit Apartment
For Sale
Contact for pricing
32 Northwest 77th Street, Miami, FL 33150
New construction offers gated, assigned covered parking and contemporary in-unit finishes.
Property Size9,676 SF
Price / SF$547.75
Days on Market18
Property Features for 32 Northwest 77th Street
General Information
Standard status
Active
Size
9,676 SF
Class
A
Property subtype
Multifamily
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Multifamily Units
16
Amenities
high impact-resistant windows
stainless steel kitchen appliances
central air conditioning
ceramic tile floors
private balconies
Building Details
Year Built
2025
Buildings
1
Units
16
Construction
reinforced concrete block construction
Listing Agency:
EXP Realty LLC
Listed By:
Javier Espinosa · License #3591212
(786) 269-3716
Source:
Crexi
Added: Aug 19
Changed: Sep 3
Last Checked: Sep 2 at 6:38PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This 16-unit walk-up apartment property contains 9,676 SF and was completed in 2025. The building uses reinforced concrete block construction and includes impact-resistant windows, stainless steel kitchen appliances, central air conditioning, ceramic tile flooring, and private balconies in select units. A fenced and gated perimeter provides assigned covered parking.
The property is located within a designated Qualified Opportunity Zone at 32 Northwest 77th Street in Miami’s Little River area. I-95 is less than 0.3 miles away, while the Miami Design District, Wynwood, and Downtown Miami are 2.4 miles, 3.2 miles, and minutes away, respectively.
The property is located within a designated Qualified Opportunity Zone at 32 Northwest 77th Street in Miami’s Little River area. I-95 is less than 0.3 miles away, while the Miami Design District, Wynwood, and Downtown Miami are 2.4 miles, 3.2 miles, and minutes away, respectively.
Key Highlights
- 16‑unit apartment property with 9,676 SF of building area
- Completed in 2025 with reinforced concrete block construction
- Located within a designated Qualified Opportunity Zone
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
$178,749
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
3.37%
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%
$3,574,980
$3.6M
Cap Rate 7%
$2,553,557
$2.6M
Cap Rate 9%
$1,986,100
$2.0M
Market Conditions
NOI Build-Up for 9,676 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
$348.3K $36.00/SF
− Vacancy
−$23.3K −$2.41/SF
EGI
$325.0K $33.59/SF
− OpEx
−$146.2K −$15.11/SF
NOI
$178.7K $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%
$3,574,980
Cap Rate 7%
$2,553,557
Cap Rate 9%
$1,986,100
Alternative Uses
Best Use
Apartment 5plus
$2.55M
$2.23M – $2.98M
NOI $178,749 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.53M
$5.71M – $7.62M
NOI $457,195 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,778
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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?
Apartment building - New construction offers gated, assigned covered parking and contemporary in-unit finishes.
Where is this apartment building located?
The property is located at 32 Northwest 77th Street Miami, FL.
What is the asking price?
The asking price for this property is $5,300,000.
What are key features of this property?
This property features: 16‑unit apartment property with 9,676 SF of building area; Completed in 2025 with reinforced concrete block construction; Located within a designated Qualified Opportunity Zone
