12-Unit Multifamily
For Sale
$2,200,000
6901 NW 8th Ave, Miami, FL 33150
Well-maintained 12-unit multifamily property with all units separately metered for electric and resident parking on site.
Property Size6,060 SF
Days on Market53
Property Features for 6901 NW 8th Ave
General Information
Standard status
Active
Size
6,060 SF
Property subtype
Income/MultiFamily
Additional Details
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$26,322
Building Details
Building Size
6,060 SF
Year Built
1957
Listing Agency:
Green Lands Realty
Listed By:
Silvia Garaza · License #3307649
(786) 267-7248
Source:
Vanessafrankmiami
Added: Jul 16
Changed: Sep 5
Last Checked: Sep 5 at 8:12AM
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 Green Lands Realty
Investment Insights
Based on property information with market context.
This 12-unit multifamily property includes twelve 1-bedroom, 1-bathroom apartments. The building’s units are supported by separate electric meters, providing separate utility billing for each unit. On-site parking is available for residents.
The property is located in central Miami and is described as convenient to major roads and public transportation, along with shopping, dining, and employment centers.
For further details, including income information and showing instructions, contact the listing agent.
The property is located in central Miami and is described as convenient to major roads and public transportation, along with shopping, dining, and employment centers.
For further details, including income information and showing instructions, contact the listing agent.
Key Highlights
- 12‑unit multifamily property built in 1957
- All units are 1‑bedroom, 1‑bathroom apartments
- Each unit has a separate electric meter
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
$111,949
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
5.09%
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%
$2,238,980
$2.2M
Cap Rate 7%
$1,599,271
$1.6M
Cap Rate 9%
$1,243,878
$1.2M
Market Conditions
NOI Build-Up for 6,060 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
$218.2K $36.00/SF
− Vacancy
−$14.6K −$2.41/SF
EGI
$203.5K $33.59/SF
− OpEx
−$91.6K −$15.11/SF
NOI
$111.9K $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%
$2,238,980
Cap Rate 7%
$1,599,271
Cap Rate 9%
$1,243,878
Alternative Uses
Best Use
Apartment 5plus
$1.60M
$1.40M – $1.87M
NOI $111,949 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.09M
$3.58M – $4.77M
NOI $286,338 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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?
Apartment building - Well-maintained 12-unit multifamily property with all units separately metered for electric and resident parking on site.
Where is this apartment building located?
The property is located at 6901 NW 8th Ave Miami, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 12‑unit multifamily property built in 1957; All units are 1‑bedroom, 1‑bathroom apartments; Each unit has a separate electric meter
