Building Details

Building Size 6,000 SF

Year Built 1925

Listing Agency: Fortune Christie's Intl R.E.

Listed By: Gino Torrente · License #3592899 Show Phone

Source: Miamibrokersgroup

Added: Aug 19 Changed: Oct 5 Last Checked: Oct 11 at 12:22PM

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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 Fortune Christie's Intl R.E.

Investment Insights

Based on property information with market context.

Built in 1925, this multifamily property contains eight one-bedroom, one-bathroom residences. Recent improvements include impact windows, updated plumbing and electrical systems, a newer roof, and completion of a 40 year recertification.

The property is located at 412 SW 10th Ave in Miami’s Little Havana area, near Calle Ocho and within minutes of Brickell, Downtown Miami, LoanDepot Park, dining, shopping, and major transportation routes. T4 R zoning applies to the property. WalkScore is 98, TransitScore is 89, and bikeScore is 80.

Key Highlights

• Eight one‑bedroom, one‑bathroom apartment residences
• Impact windows, updated plumbing and electrical systems
• Newer roof and completed 40 year recertification

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$110,840

Cap Rate

5.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,216,800 $2.2M

Cap Rate 7%

$1,583,429 $1.6M

Cap Rate 9%

$1,231,556 $1.2M

Market Conditions

NOI Build-Up for 6,000 SF

Gross rent

$216.0K $36.00/SF

− Vacancy

−$14.5K −$2.41/SF

EGI

$201.5K $33.59/SF

− OpEx

−$90.7K −$15.11/SF

NOI

$110.8K $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 Rate 5%

$2,216,800

Cap Rate 7%

$1,583,429

Cap Rate 9%

$1,231,556

Alternative Uses

Best Use

Apartment 5plus

$1.58M

$1.39M – $1.85M (±1% cap)

NOI $110,840 @ 7.0% cap · market cap 5.04%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$4.05M

$3.54M – $4.73M (±1% cap)

NOI $283,503 @ 7.0% cap · market cap 12.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Carpet & Flooring Store Butcher Locksmith (Bike/Boat/Book/etc) Store Tanning Salon Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

8

Residential units

Location Intelligence

Trade Area within ½ mile

3,822

Businesses Nearby

Explore this area Business Placement

Demographics for 33130, FL

35,609

Population

20,377

Households

1.7

Avg Household Size

36

Median Age

42%

College-Educated

81%

High-School Grad

1.1 sq mi

ZIP Area

32,372

Density / Sq Mi

$57,933

Median Household Income

$36,888

Median Earnings

$1,656

Median Rent

$479,800

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Updated multifamily property with one-bedroom residences, impact windows, modernized systems, and a newer roof.

Where is this apartment building located?

The property is located at 412 SW 10th Ave Miami, FL.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: Eight one‑bedroom, one‑bathroom apartment residences; Impact windows, updated plumbing and electrical systems; Newer roof and completed 40 year recertification