| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 16th | Poor |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20875 NW 22nd Ave, Miami Gardens, FL, 33056, US |
| Region / Metro | Miami Gardens |
| Year of Construction | 1974 |
| Units | 88 |
| Transaction Date | 2012-11-09 |
| Transaction Price | $14,350,000 |
| Buyer | 491 UNITS MIAMI GARDENS INVESTMENTS LLC |
| Seller | LB RPR TALLY REO HOLDINGS LLC |
20875 NW 22nd Ave Miami Gardens Multifamily Investment
Neighborhood occupancy is in the mid-90s and has trended upward in recent years, supporting stable renter demand according to WDSuite’s CRE market data. Position within Miami’s inner suburbs offers steady workforce housing dynamics without relying on top-of-market rents.
This inner-suburb location in Miami Gardens balances day-to-day convenience with established housing stock. Grocery and park access test above national medians (grocery around the mid-70s percentile; parks near the upper 80s), while restaurants are comparatively plentiful, though cafes and pharmacies are limited. For investors, that mix points to practical livability drivers over lifestyle niches.
On operating fundamentals, neighborhood occupancy is around the mid-90s and has improved over the past five years, a positive signal for leasing stability based on CRE market data from WDSuite. Median contract rents in the neighborhood sit above the national median, and neighborhood NOI per unit benchmarks are also above the national midpoint, indicating pricing that supports operations while remaining competitive within the metro.
The neighborhood ranks 173 out of 449 Miami–Miami Beach–Kendall neighborhoods on housing metrics, which is competitive among metro peers. Construction skew is older than the metro’s average (the property’s 1974 vintage compares to a neighborhood average near the late 1980s), which suggests planning for ongoing capital projects and potential value-add positioning to differentiate versus aging stock.
Tenure patterns vary by scale: at the neighborhood level, the share of housing units that are renter-occupied is high, indicating a deep local tenant base; within a 3-mile radius, ownership remains the majority, broadening the catchment but still supporting consistent multifamily demand. Nearby household counts have grown in recent years and are projected to increase further through the forecast period, which implies a larger tenant base and supports occupancy stability.
Home values are elevated for the area relative to incomes (high value-to-income ratios at the national 90s percentiles), reinforcing reliance on rental housing. For investors, this tends to support retention and reduces direct competition from for-sale alternatives, while still requiring thoughtful lease management where rent-to-income ratios signal potential affordability pressure.
Safety indicators are mixed in a way investors should contextualize carefully. Within the Miami–Miami Beach–Kendall metro, the neighborhood’s crime rank (20th of 449) signals more crime relative to many local areas. However, national comparisons place modeled crime rates in the upper third for safety (roughly 70th–90th percentiles nationally), and recent year-over-year estimates point to declines in both property and violent offenses. The directional trend is constructive, but underwriting should account for localized variation within blocks and the broader inner-suburb setting.
Proximity to a diversified employment base supports renter demand and lease retention, with nearby corporate offices spanning healthcare, logistics, energy, and homebuilding. Key employers include Johnson & Johnson, Ryder System, AutoNation, World Fuel Services, and Lennar.
- Johnson & Johnson — healthcare & consumer products offices (5.8 miles)
- Ryder System — logistics & transportation (11.5 miles) — HQ
- AutoNation — automotive retail corporate (12.0 miles) — HQ
- World Fuel Services — energy & commodities (13.0 miles) — HQ
- Lennar — homebuilding (15.6 miles) — HQ
The 88-unit property at 20875 NW 22nd Ave offers scale in a renter-oriented Miami Gardens neighborhood where occupancy trends have strengthened and rents benchmark above national medians. The 1974 vintage is older than nearby averages, creating clear value-add and capital planning pathways to enhance competitiveness versus aging stock. Elevated ownership costs in the area support durable multifamily demand, while a broad employment base within commuting distance underpins a stable tenant pool.
According to commercial real estate analysis from WDSuite, the neighborhood’s operating metrics and NOI benchmarks sit above national midpoints, and 3-mile household counts are expanding with projections for further growth—supporting a larger tenant base over time. Risk management should address affordability pressure where rent-to-income ratios tighten, localized safety variation typical of inner suburbs, and ongoing capex tied to 1970s construction.
- Occupancy in the mid-90s with multi-year improvement supports leasing stability.
- Elevated ownership costs bolster reliance on rentals, aiding retention and pricing power.
- 1974 vintage provides value-add potential through targeted renovations and systems upgrades.
- Diversified nearby employers (healthcare, logistics, energy, homebuilding) sustain tenant demand.
- Risks: affordability pressure (rent-to-income), mixed safety signals within the metro, and ongoing capex needs.