Multifamily Property Near Brightline
For Sale
$2,600,000
2500 NE 192nd St, Miami, FL 33180
Multifamily property with eight units near Brightline train station.
Property Size5,600 SF
Price / SF$464.29
Days on Market785
Property Features for 2500 NE 192nd St
General Information
Standard status
Active
Size
5,600 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$17,562
Building Details
Building Size
5,600 SF
Year Built
1930
Listing Agency:
Compra Venta Miami
Listed By:
Victor Persia · License #3194931
(305) 947-0477
Source:
Relinkre
Added: Aug 23, 2024
Changed: Oct 14
Last Checked: Oct 16 at 5:06PM
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 Compra Venta Miami
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Investment Insights
Based on property information with market context.
This multifamily property, an investor's dream, is located in an up-and-coming neighborhood. The building contains eight units, each featuring one bedroom and one bathroom. The property includes ten parking spaces, supplemented by street parking. Renovations were completed four years ago, incorporating high-impact windows, porcelain floors, stainless steel appliances, and tankless water heaters in each unit. Situated a few blocks from the Brightline train station, the location provides walking distance access to restaurants, banks, pharmacies, supermarkets, and a post office. Aventura Mall is a 5-minute drive away, while Sunny Isles Beach is reachable within 7 minutes. All units are currently rented.
Key Highlights
- Fully rented 8‑unit multifamily property provides immediate rental income.
- Prime location: close to Brightline train station, restaurants, banks, pharmacy, supermarket, and post office.
- Convenient access: 5‑minute drive to Aventura Mall and 7 minutes to Sunny Isles Beach.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$103,451
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,069,020
$2.1M
Cap Rate 7%
$1,477,871
$1.5M
Cap Rate 9%
$1,149,456
$1.1M
Market Conditions
NOI Build-Up for 5,600 SF
Gross rent
$201.6K $36.00/SF
− Vacancy
−$13.5K −$2.41/SF
EGI
$188.1K $33.59/SF
− OpEx
−$84.6K −$15.11/SF
NOI
$103.5K $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 Rate 5%
$2,069,020
Cap Rate 7%
$1,477,871
Cap Rate 9%
$1,149,456
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.29M – $1.72M
NOI $103,451 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.78M
$3.31M – $4.41M
NOI $264,603 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,086
Businesses Nearby
Explore this area
Business Placement
Demographics for 33180, FL
35,062
Population
21,112
Households
1.7
Avg Household Size
45
Median Age
55%
College-Educated
95%
High-School Grad
3.3 sq mi
ZIP Area
10,625
Density / Sq Mi
$88,613
Median Household Income
$51,612
Median Earnings
$2,480
Median Rent
$471,400
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 - Multifamily property with eight units near Brightline train station.
Where is this apartment building located?
The property is located at 2500 NE 192nd St Miami, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Fully rented 8‑unit multifamily property provides immediate rental income.; Prime location: close to Brightline train station, restaurants, banks, pharmacy, supermarket, and post office.; Convenient access: 5‑minute drive to Aventura Mall and 7 minutes to Sunny Isles Beach.
