Flagami Multifamily Development
4831 W Flagler St Coral Gables, FL 33134
4831 W Flagler St, Coral Gables, FL, 33134
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For Sale
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Income-producing 36-unit complex with development potential in Miami.
Property Size12,175 SF
Lot Size0.89 Acres
Price / SF$533.88
Days on Market156
Property Features for 4831 W Flagler St
General Information
- Standard status
- Active
- Size
- 12,175 SF
- Lot size
- 0.89 Acres
- Property subtype
- Hospitality, Multifamily
Building Details
- Year Built
- 1953
Listing Agency
Eleven Trust Real Estate Services
(305) 299-4124
Listed by
Rafael Fermoselle · License #FL 3233005
Source
Crexi
Added: Feb 12 Checked: Jul 17 at 2:26 pm
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 Eleven Trust Real Estate Services
Investment Insights
Based on property information with market context.
The Sunshine Inn Apartments, situated at 4871 West Flagler Street, Coral Gables, FL 33134, is available for purchase. This income-producing property, priced at $6,500,000, presents a development opportunity within Miami's Flagami neighborhood. The property encompasses 38,676 sq. ft. and is zoned T5-O. Currently, the property operates as a 36-unit rental complex. Its central location offers proximity to Miracle Mile, Marlins Park, and the upcoming Miami Freedom Park Soccer Stadium. The Flagami neighborhood is characterized by its diverse and established community, offering a residential environment with convenient access to amenities, universities, and transportation. The property has a size of 12175 sqft.
Key Highlights
- Income‑producing 36‑unit apartment complex
- Prime location in Miami's Flagami neighborhood near Miracle Mile, Marlins Park, and Miami Freedom Park Soccer Stadium
- Significant development opportunity due to T5‑O zoning
Local 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 | $356.5k | $29.28 |
| − Vacancy | −$16.0k | −$1.32 |
| EGI | $340.4k | $27.96 |
| − OpEx | −$153.2k | −$12.58 |
| NOI | $187.2k | $15.38 |
12,175 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.67M
$2.34M – $3.12M
NOI $187,243 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.18M
$5.40M – $7.21M
NOI $432,382 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Income-producing 36-unit complex with development potential in Miami.
Where is this apartment building located?
The property is located at 4831 W Flagler St Coral Gables, FL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Income‑producing 36‑unit apartment complex; Prime location in Miami's Flagami neighborhood near Miracle Mile, Marlins Park, and Miami Freedom Park Soccer Stadium; Significant development opportunity due to T5‑O zoning
