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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    190 16Th St Miami, FL 33136

    • Small apartment buildings
    • 6,114 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1526696
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 190 16Th St

    Year built
    1950
    Property size
    6,114 SF
    Property type
    Small apartment buildings

    Description

    This exceptional 10-unit apartment building presents a compelling investment opportunity in the vibrant heart of Miami, Florida. Located at 190 NW 16th St, Miami, FL 33136, this property boasts a total of 6,114 square feet and is situated on a two-story building constructed in 1950. The property is currently offered at an attractive asking price of $2,700,000. Each of the ten units has undergone a complete renovation, ensuring modern comfort and appeal to tenants. This translates to strong rental income potential, making this a highly desirable asset for discerning investors. The property's central Miami location provides easy access to a variety of amenities, transportation options, and a thriving rental market. This fully renovated multifamily property in Miami-Dade County represents a rare chance to acquire a turnkey investment with significant upside potential. The property's solid construction and updated units promise long-term stability and consistent returns. This is an ideal opportunity for investors seeking a well-maintained, high-performing asset in a dynamic urban setting. Don't miss this chance to secure a piece of Miami's thriving real estate market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.1985533
    Latitude
    25.790234

    Comparable in this City

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      3,612 SF

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    • $6,500,000

      New Construction Co-Living Building

      New construction co-living building in developing Riverside/Little Havana neighborhood.
      1110 NW 7Th St, Miami, FL 33136
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    • $1,150,000
      3,378 SF

      Miami Multifamily Investment Opportunity

      Five-unit multiplex in Riverside near Wynwood, Brickell, and Little Havana.
      769 NW 10, Miami, FL 33136
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    • New
      $1,150,000

      Miami Multifamily Investment Opportunity

      Five-unit multiplex in Miami's Riverside neighborhood near key districts.
      769 NW 10, Miami, FL 33136
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    • $1,500,000

      Overtown Multifamily Investment Opportunity

      Renovated 6-unit multifamily building in the heart of Overtown.
      212 NW 15Th St, Miami, FL 33136
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    • $6,500,000

      Miami Co-Living Complex

      64 Units, Prime Riverside Location
      1121 7Th St, Miami, FL 33136
      View Details

    Similar Nearby for Sale

    • $1,590,000
      3,612 SF

      Miami Multifamily Investment Opportunity

      Riverside 5-Unit Airbnb Multiplex
      769 10Th St, Miami, FL 33136
      View Details
    • $6,500,000

      New Construction Co-Living Building

      New construction co-living building in developing Riverside/Little Havana neighborhood.
      1110 NW 7Th St, Miami, FL 33136
      View Details
    • $1,625,000

      Multifamily Building Near Miami River

      Six-unit multifamily building near Miami River, fully rented.
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    • $1,500,000

      Overtown Multifamily Investment Opportunity

      Renovated 6-unit multifamily building in the heart of Overtown.
      212 NW 15Th St, Miami, FL 33136
      View Details
    • $6,500,000

      Miami Co-Living Complex

      64 Units, Prime Riverside Location
      1121 7Th St, Miami, FL 33136
      View Details
    • $1,150,000
      3,378 SF

      Miami Multifamily Investment Opportunity

      Five-unit multiplex in Riverside near Wynwood, Brickell, and Little Havana.
      769 NW 10, Miami, FL 33136
      View Details

    Similar Nearby for Lease

    • $1,650 /Mo

      Renovated Apartment Near Downtown Miami

      Modern apartment with central A/C, near transportation and amenities.
      540 NW 7Th St, Miami, FL 33136
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    • $3,371 /Mo

      Spacious Two-Bedroom Apartment with Amenities

      Modern apartment with resort-style pool, fitness center, and co-working lounge.
      1005 Spring Garden Rd, Miami, FL 33136
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    • $1,500 /Mo

      Furnished Efficiency in Prime Location

      Fully furnished efficiency with utilities included, near Medical District.
      1033 NW 6Th St, Miami, FL 33136
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    • $5,000 /Mo
      1,169 SF

      Remodeled Retail Spaces in Overtown

      Two retail spaces in a rapidly growing Miami neighborhood.
      212 NW 11Th St, Miami, FL 33136
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    • Contact for pricing
      2,862 SF

      Office Space Near Health District

      Office space near Jackson Memorial Hospital available for lease.
      1011 Sunnybrook Rd, Miami, FL 33136
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    • $39 SF/Yr
      4,006 SF

      Miami Tech Building Science Lab

      Rare permitted science lab space in top Miami tech building.
      1471 NW 8Th Ave, Miami, FL 33136
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    190 16Th St
    Miami, FL 33136
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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