Flagami Multifamily Development
For Sale
Contact for pricing
4831 W Flagler St, Coral Gables, FL 33134
Income-producing 36-unit complex with development potential in Miami.
Property Size12,175 SF
Lot Size0.89 Acres
Price / SF$533.88
Days on Market249
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
Zoning
T5-L
Net Operating Income
$419,612
Building Details
Year Built
1953
Buildings
5
Stories
1
Units
36
Listing Agency:
Eleven Trust Real Estate Services
Listed By:
David Fermoselle · License #3306806
(305) 299-4124
Source:
Crexi
Added: Feb 12
Changed: Oct 3
Last Checked: Oct 16 at 8:03AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$187,243
Cap Rate
2.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,744,860
$3.7M
Cap Rate 7%
$2,674,900
$2.7M
Cap Rate 9%
$2,080,478
$2.1M
Market Conditions
NOI Build-Up for 12,175 SF
Gross rent
$356.5K $29.28/SF
− Vacancy
−$16.0K −$1.32/SF
EGI
$340.4K $27.96/SF
− OpEx
−$153.2K −$12.58/SF
NOI
$187.2K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,744,860
Cap Rate 7%
$2,674,900
Cap Rate 9%
$2,080,478
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,933
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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
