Renovated Multifamily
For Sale
Contact for pricing
8400 NW 15th Ave, Miami, FL 33147
Renovated units include impact windows, central A/C, and gated parking.
Property Size3,576 SF
Price / SF$335.57
Days on Market10
Property Features for 8400 NW 15th Ave
General Information
Standard status
Active
Size
3,576 SF
Property subtype
Multifamily
Zoning
0100
Amenities
gated parking
impact windows
central A/C
landscaped lot
Building Details
Year Built
1973
Listing Agency:
Fausto Commercial Realty Consultants
(305) 510-6627
Listed By:
Vicente Rodriguez · License #3289280
Source:
Crexi
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 11 at 7:09PM
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
Investment Insights
Based on property information with market context.
This multifamily property includes 3,576 square feet of building area and was built in 1973. The improvements include renovated units, impact windows, central A/C, and gated parking. A landscaped lot and spacious unit layouts add to the physical profile of the property.
Located at 8400 NW 15th Ave in Miami, Florida, the property carries zoning designation 0100.
Located at 8400 NW 15th Ave in Miami, Florida, the property carries zoning designation 0100.
Key Highlights
- 3,576‑square‑foot multifamily property
- Built in 1973
- Renovated units with impact windows
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
$66,061
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
5.51%
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%
$1,321,220
$1.3M
Cap Rate 7%
$943,729
$943.7K
Cap Rate 9%
$734,011
$734.0K
Market Conditions
NOI Build-Up for 3,576 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
$128.7K $36.00/SF
− Vacancy
−$8.6K −$2.41/SF
EGI
$120.1K $33.59/SF
− OpEx
−$54.0K −$15.11/SF
NOI
$66.1K $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%
$1,321,220
Cap Rate 7%
$943,729
Cap Rate 9%
$734,011
Alternative Uses
Best Use
Apartment 5plus
$943.7K
$825.8K – $1.10M
NOI $66,061 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.41M
$2.11M – $2.82M
NOI $168,968 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
812
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
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?
Multifamily property - Renovated units include impact windows, central A/C, and gated parking.
Where is this multifamily property located?
The property is located at 8400 NW 15th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,576‑square‑foot multifamily property; Built in 1973; Renovated units with impact windows
