| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 85th | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 343 Majorca Ave, Coral Gables, FL, 33134, US |
| Region / Metro | Coral Gables |
| Year of Construction | 2011 |
| Units | 36 |
| Transaction Date | 2006-02-01 |
| Transaction Price | $600,000 |
| Buyer | MAJORCA INVESTMENT LLC |
| Seller | CASA MAJORCA DEVELOPMENT GROUP LLC |
343 Majorca Ave Coral Gables Multifamily, 2011 Vintage
Neighborhood-level renter demand is supported by a high renter-occupied share and a high-cost ownership market, helping pricing resilience per WDSuite s CRE market data.
The property sits in an A+ rated Urban Core neighborhood that ranks 4th among 449 Miami metro neighborhoods, signaling strong fundamentals relative to the region. Amenity access is a clear strength: cafes and restaurants rank near the very top of the metro, and park density is similarly high, reinforcing daily-life convenience that supports leasing velocity and retention.
Schools in the neighborhood average 4.0 out of 5, ranking 12th of 449 metro neighborhoods and landing in a high national percentile, which can enhance long-term appeal for a broad renter base. Median household incomes are above many national benchmarks, and neighborhood housing metrics place it above the metro median, according to WDSuite s commercial real estate analysis.
On tenure, the share of housing units that are renter-occupied is high for the neighborhood (competitive at the metro level and in a top national percentile). That renter concentration suggests a deep tenant pool and supports demand stability for multifamily.
Within a 3-mile radius, recent years show a modest population dip alongside an increase in households and smaller average household sizes. Looking ahead, households are projected to grow further, indicating a larger tenant base over time and supporting occupancy stability and leasing performance, based on WDSuite s CRE market data.
Home values in the neighborhood are elevated relative to national norms, and the value-to-income ratio is high versus many U.S. neighborhoods. This high-cost ownership market generally sustains reliance on rental housing, while a relatively favorable rent-to-income profile locally can aid lease retention.
Neighborhood safety indicators trend favorable compared with national norms. The area sits in an above-average national percentile for safety, and both violent and property offense rates have declined year over year. These are neighborhood-level metrics, not property-specific, and they suggest a constructive backdrop for renter retention and day-to-day livability.
Proximity to several corporate offices supports a steady commuter tenant base and helps with lease retention. Notable employers within a typical renter commute include Lennar, World Fuel Services, Mosaic, Johnson & Johnson, and Ryder System.
- Lennar corporate offices (6.9 miles) HQ
- World Fuel Services corporate offices (6.9 miles) HQ
- Mosaic corporate offices (9.5 miles)
- Johnson & Johnson corporate offices (10.5 miles)
- Ryder System corporate offices (10.9 miles) HQ
Built in 2011, the asset is newer than the neighborhood s average vintage (1990), offering competitive positioning versus older stock while leaving room for targeted modernization as systems age. The neighborhood shows strong amenity access, high renter concentration, and elevated ownership costs all supportive of multifamily demand and lease retention. According to CRE market data from WDSuite, local rent burdens appear manageable relative to incomes, reinforcing pricing resilience.
Forward-looking demographics within a 3-mile radius indicate growth in households and a shrinking average household size, expanding the renter pool even as population trends shift. While submarket occupancy metrics have moderated relative to broader benchmarks, the combination of location fundamentals, income strength, and employer access supports a durable long-term thesis for stabilized multifamily.
- 2011 vintage provides competitive positioning vs. older inventory, with selective value-add potential.
- High renter-occupied share and elevated ownership costs deepen the tenant base and support retention.
- Amenity-rich Urban Core setting (top-tier in metro for cafes, restaurants, parks) aids leasing and renewal rates.
- Household growth and smaller household sizes within 3 miles expand the renter pool over time.
- Risk: Neighborhood occupancy metrics trail national benchmarks, requiring active leasing and asset management.