Renovated Multifamily
440 SW 5th Avenue Miami, FL 33130
For Sale
$3,700,000
Old Spanish-style multifamily building fully renovated in 2010 with roof work completed in 2006 and ongoing equipment updates.
Property Size12,825 SF
Price / SF$288.50
Days on Market45
Property Features for 440 SW 5th Avenue
General Information
- Standard status
- Active
- Size
- 12,825 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1925
Listing Agency:
FLORIDA HOME SALES AND INVEST.
(305) 815-5933
Listed By:
ETHELBERT BASCOM · License #A11786413
Source:
Corcoran
Added: Jun 9
Changed: Jul 21
Last Checked: Jul 23 at 8:45AM
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 FLORIDA HOME SALES AND INVEST.
Investment Insights
Based on property information with market context.
This old Spanish-style multifamily building was total renovated in 2010. The roof was redone in 2006, and several AC units and appliances have been replaced since then. The exterior was painted on March 30, 2025, and a 50-year-plus re-certification is complete as of July 2025, with documentation available in the attachments.
Located minutes from downtown Miami, the property is within walking distance of Brickell. Please do not disturb tenants; showings will be arranged after a signed letter of intent or contract.
Additional building and compliance details are available in the attachments provided with the listing package.
Located minutes from downtown Miami, the property is within walking distance of Brickell. Please do not disturb tenants; showings will be arranged after a signed letter of intent or contract.
Additional building and compliance details are available in the attachments provided with the listing package.
Key Highlights
- Old Spanish‑style multifamily building built in 1925
- Total renovation completed in 2010
- Roof redone in 2006
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 | $461.7k | $36.00 |
| − Vacancy | −$30.9k | −$2.41 |
| EGI | $430.8k | $33.59 |
| − OpEx | −$193.8k | −$15.11 |
| NOI | $236.9k | $18.47 |
12,825 SF · lease $36.00/SF/yr · vacancy 6.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.38M
$2.96M – $3.95M
NOI $236,921 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.66M
$7.57M – $10.10M
NOI $605,987 @ 7.0% cap · market cap 16.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
FAQs
What type of property is this?
Multifamily property - Old Spanish-style multifamily building fully renovated in 2010 with roof work completed in 2006 and ongoing equipment updates.
Where is this multifamily property located?
The property is located at 440 SW 5th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: Old Spanish‑style multifamily building built in 1925; Total renovation completed in 2010; Roof redone in 2006
