21-Unit Apartment
New
For Sale
$4,500,000
980 SW 5th St, Miami, FL 33130
Two adjacent residential buildings offer a mix of one- and two-bedroom apartments with off-street parking and on-site laundry facilities.
Property Size13,810 SF
Lot Size0.52 Acres
Days on Market4
Property Features for 980 SW 5th St
General Information
Standard status
Active
Size
13,810 SF
Total Parking Spaces
16
Lot size
0.52 Acres
Property subtype
Multifamily
Zoning
T4-R
Occupancy
95%
Units
Unit Mix
17 x 1BR/1BA, 4 x 2BR/1BA
Multifamily Units
21
Amenities
laundry room
Well located Little Havana Submarket
Very strong rental market
Off street parking
Very large laundry room
Large corner lot
Upside in rental income
Building Details
Building Size
13,810 SF
Buildings
2
Units
21
Listing Agency:
Fort Lauderdale Office
(954) 245-3444
Listed By:
Felipe Echarte · License #License(s): FL: SL696115
(954) 245-3444
Source:
Marcusmillichap
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 4:42AM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
This multifamily property comprises two adjacent apartment buildings with 21 residential units on a 0.52-acre site. The unit mix includes 17 one-bedroom, one-bathroom apartments averaging 636 SF and four two-bedroom, one-bathroom apartments measuring 748 SF. Air conditioning is provided through a combination of wall-mounted and central systems, and the property includes a large laundry room and off-street parking for 16 cars.
The buildings occupy the corner of SW 5th Street and SW 10th Avenue, with 980 SW 5th Street positioned immediately to the east. The surrounding area includes low- and medium-density apartment buildings and single-family homes. T4-R zoning applies to the property. Tenants pay electric service, while ownership covers water, sewer, and trash removal.
The buildings occupy the corner of SW 5th Street and SW 10th Avenue, with 980 SW 5th Street positioned immediately to the east. The surrounding area includes low- and medium-density apartment buildings and single-family homes. T4-R zoning applies to the property. Tenants pay electric service, while ownership covers water, sewer, and trash removal.
Key Highlights
- 21 residential units: 17 one‑bedroom units averaging 636 SF and four two‑bedroom units measuring 748 SF
- Two adjacent apartment buildings on a 0.52‑acre lot
- T4‑R zoning
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
$255,118
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
5.67%
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%
$5,102,360
$5.1M
Cap Rate 7%
$3,644,543
$3.6M
Cap Rate 9%
$2,834,644
$2.8M
Market Conditions
NOI Build-Up for 13,810 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
$497.2K $36.00/SF
− Vacancy
−$33.3K −$2.41/SF
EGI
$463.9K $33.59/SF
− OpEx
−$208.7K −$15.11/SF
NOI
$255.1K $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%
$5,102,360
Cap Rate 7%
$3,644,543
Cap Rate 9%
$2,834,644
Alternative Uses
Best Use
Apartment 5plus
$3.64M
$3.19M – $4.25M
NOI $255,118 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.32M
$8.16M – $10.88M
NOI $652,529 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21
Residential units
Location Intelligence
Trade Area within ½ mile
3,366
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two adjacent residential buildings offer a mix of one- and two-bedroom apartments with off-street parking and on-site laundry facilities.
Where is this apartment building located?
The property is located at 980 SW 5th St Miami, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 21 residential units: 17 one‑bedroom units averaging 636 SF and four two‑bedroom units measuring 748 SF; Two adjacent apartment buildings on a 0.52‑acre lot; T4‑R zoning
