641 NW 2nd St Miami, FL 33128
Six-unit multifamily property in Little River with value-add potential.
Property Features for 641 NW 2nd St
General Information
- Standard status
- Active
- Size
- 4,688 SF
- Lot size
- 0.17 Acres
- Property subtype
- Multifamily, Office
Building Details
- Year Built
- 1972
Listing office Avenew Realty Corp
Listing date May 23, 2026
Source Crexi
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 Avenew Realty Corp
Investment Insights
Based on property information with market context.
Key Highlights
- Immediate income potential in the rapidly growing Little River area of Miami.
- Value‑add potential and long‑term redevelopment upside due to T6‑8‑O zoning.
- Six 2‑bedroom, 1‑bathroom units, ideal for tenant appeal.
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 | $168.8k | $36.00 |
| − Vacancy | −$11.3k | −$2.41 |
| EGI | $157.5k | $33.59 |
| − OpEx | −$70.9k | −$15.11 |
| NOI | $86.6k | $18.47 |
