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    1801 4Th Ave Miami, FL 33132

    Sponsored
    For Sale
    $15,750,000

    322-Unit Potential, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 0.32-acre development site in Miami, Florida, presents a unique redevelopment opportunity. Currently housing an 18-unit, 12,561 square foot Class B multifamily building with 100% occupancy, the property is zoned T6-36A-L, allowing for the construction of up to 322 micro-units under the OMNI CRA guidelines. This permits a 60/40 split of market-rate and affordable units (up to 120% AMI), eliminating parking requirements for units under 400 square feet. The existing building, constructed in 1974 and featuring five stories, offers immediate income while plans for a significant expansion are underway. Located at 1801 NE 4th Ave, Miami, FL 33132, this property boasts a prime location in a Transit Oriented District, steps from Biscayne Bay and Margaret Pace Park, and surrounded by luxury residences and high-end amenities. The land value is $1,148 per square foot, with the asking price for the entire property set at $15,750,000 ($875,000 per unit). This presents a compelling investment opportunity for developers seeking to capitalize on Miami's thriving real estate market and the demand for micro-unit living. The property's strategic location near Midtown, Wynwood, and the Design District further enhances its appeal and potential for significant returns. The APN is 01-3231-037-0010.

    Property Features for 1801 4Th Ave

    General Information

    Property type
    Multifamily properties
    Class
    B
    Lot Size
    13,939 SF

    Building Details

    Year Built
    1974
    Buildings
    1
    Stories
    5
    Units
    18

    HighLights

    • Redevelopment opportunity: 322 micro‑unit potential, no parking required.
    • 18‑unit occupied, covered land play.
    • Prime Biscayne Bay location.
    • Steps from Margaret Pace Park.
    Property Profile Location Intelligence

    Current Use by Public Records

    Redav Video Production Service Miss Placeres Flowers Flower Delivery Exosome Therapy Clinic Medical Clinic Sun Solutions Solar ... Solar Energy Equipment Supplier Sabrina Rupprecht Art Artist

    Suggested Use

    Law Firm Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Food Market Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1875501
    Latitude
    25.7938807

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    FAQs

    What type of property is this?
    Multifamily property - 322-Unit Potential, Prime Location
    Where is this multifamily property located?
    The property is located at 1801 4Th Ave Miami, FL.
    What is the asking price?
    The asking price for this property is $15,750,000.
    What are key features of this property?
    This property features: Redevelopment opportunity: 322 micro-unit potential, no parking required.; 18-unit occupied, covered land play.; Prime Biscayne Bay location.
    (305) 209-8866
    Request Owner's contact information
    1801 4Th Ave Miami, FL 33132
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1801 4Th Ave Miami, FL 33132
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