Multifamily Property Near
For Sale
$399,999
4419 Northwest 17th Avenue, Miami, FL 33142
Income-generating multifamily property with development potential in a desirable location.
Property Size1,652 SF
Price / SF$242.13
Days on Market174
Property Features for 4419 Northwest 17th Avenue
General Information
Standard status
Active
Size
1,652 SF
Property subtype
Multi-Family Income / Duplex
Taxes and HOA fees
Annual Taxes
$4,832
Building Details
Year Built
1938
Listing Agency:
Carmona Realty Group, LLC.
(305) 271-1810
Listed By:
Antonio Gutierrez · License #3028949
(305) 271-1810
Source:
Compass
Added: Mar 7
Changed: Aug 27
Last Checked: Aug 26 at 1:41PM
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 Carmona Realty Group, LLC.
Investment Insights
Based on property information with market context.
This multifamily property offers potential for commercial space mix use or development. It is centrally located near the expressway, airport, and Wynwood. The property is currently fully occupied with a total of three units. These include one 2-bedroom, 1-bath unit and two 1-bedroom, 1-bath units. The units are currently occupied on a month-to-month basis. The property is an income generator. The roof was installed within the last 2 years. The property size is 1652 square feet.
Key Highlights
- Excellent income‑producing property.
- Zoned T5‑O with potential for multifamily/commercial development.
- Centrally located near Expressway, Airport, and Wynwood.
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
$30,518
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
7.63%
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%
$610,360
$610.4K
Cap Rate 7%
$435,971
$436.0K
Cap Rate 9%
$339,089
$339.1K
Market Conditions
NOI Build-Up for 1,652 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
$59.5K $36.00/SF
− Vacancy
−$4.0K −$2.41/SF
EGI
$55.5K $33.59/SF
− OpEx
−$25.0K −$15.11/SF
NOI
$30.5K $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%
$610,360
Cap Rate 7%
$435,971
Cap Rate 9%
$339,089
Alternative Uses
Best Use
Apartment 5plus
$436.0K
$381.5K – $508.6K
NOI $30,518 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.12M
$975.7K – $1.30M
NOI $78,058 @ 7.0% cap · market cap 19.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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?
Multifamily property - Income-generating multifamily property with development potential in a desirable location.
Where is this multifamily property located?
The property is located at 4419 Northwest 17th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Excellent income‑producing property.; Zoned T5‑O with potential for multifamily/commercial development.; Centrally located near Expressway, Airport, and Wynwood.
