8-Unit Apartment
For Sale
$1,350,000
6124 Pembroke Rd 1-8, Miramar, FL 33023
Apartment property with a mix of studio and one-bedroom units, updated mini-split air conditioning, and on-site laundry.
Property Size3,670 SF
Price / SF$367.85
Days on Market79
Property Features for 6124 Pembroke Rd 1-8
General Information
Standard status
Active
Size
3,670 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 1BD/1BA, 6 x studio
Multifamily Units
8
Additional Details
Gross Income
$140,520
Amenities
on-site coin laundry room
garage
Building Details
Year Built
1975
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Elior Levi · License #3574869
(954) 743-7594
Source:
Mymiahomes
Added: Aug 4
Changed: Oct 16
Last Checked: Oct 7 at 12:53PM
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 Fausto Commercial Realty Consultants Inc
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Investment Insights
Based on property information with market context.
This 8-unit apartment building, constructed in 1975, includes two 1BD/1BA apartments and six studio units. Seven units are leased month to month, while several interiors have been renovated. Updated mini-split A/C systems serve the property, which also includes a coin-operated laundry room.
The property is located on Pembroke Road in Miramar, FL, near US 441 and major highways. A large garage provides storage space and is identified as having potential for conversion into a ninth unit. Current annual gross income is $140,520, and the going-in cap rate is near 7%.
The property is located on Pembroke Road in Miramar, FL, near US 441 and major highways. A large garage provides storage space and is identified as having potential for conversion into a ninth unit. Current annual gross income is $140,520, and the going-in cap rate is near 7%.
Key Highlights
- 8‑unit apartment building with two 1BD/1BA units and six studios
- Seven of eight tenants are on month‑to‑month leases
- Several renovated interiors and updated mini‑split A/C systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,788
Cap Rate
2.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$755,760
$755.8K
Cap Rate 7%
$539,829
$539.8K
Cap Rate 9%
$419,867
$419.9K
Market Conditions
NOI Build-Up for 3,670 SF
Gross rent
$70.9K $19.32/SF
− Vacancy
−$2.2K −$0.60/SF
EGI
$68.7K $18.72/SF
− OpEx
−$30.9K −$8.42/SF
NOI
$37.8K $10.30/SF
Area
Miramar, FL
Vacancy
3.10%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$755,760
Cap Rate 7%
$539,829
Cap Rate 9%
$419,867
Alternative Uses
Best Use
Apartment 5plus
$539.8K
$472.4K – $629.8K
NOI $37,788 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.71M
$1.49M – $1.99M
NOI $119,554 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
8
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 33023, FL
66,749
Population
22,450
Households
3
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
7,585
Density / Sq Mi
$70,003
Median Household Income
$35,093
Median Earnings
$1,621
Median Rent
$344,500
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 - Apartment property with a mix of studio and one-bedroom units, updated mini-split air conditioning, and on-site laundry.
Where is this apartment building located?
The property is located at 6124 Pembroke Rd 1-8 Miramar, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 8‑unit apartment building with two 1BD/1BA units and six studios; Seven of eight tenants are on month‑to‑month leases; Several renovated interiors and updated mini‑split A/C systems
