| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 28th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 NW 1st Ave, Miami, FL, 33136, US |
| Region / Metro | Miami |
| Year of Construction | 2011 |
| Units | 90 |
| Transaction Date | 2010-04-27 |
| Transaction Price | $1,800,000 |
| Buyer | ARK DEVELOPMENT/OVERTOWN I LLC |
| Seller | ROYAL PALM MIAMI DOWNTOWN LLC |
1000 NW 1st Ave Miami Multifamily Investment, 2011
Located in Miami s urban core, the neighborhood s high renter-occupied share points to a deep tenant base and durable leasing fundamentals, according to WDSuite s CRE market data; note these are neighborhood indicators, not property performance.
This Urban Core neighborhood carries a C rating and ranks 331 out of 449 Miami metro neighborhoods, indicating conditions that are competitive but below the metro median. For day-to-day livability, residents benefit from strong access to parks (top percentile nationally) alongside solid food options: restaurants and grocery stores sit in the higher national percentiles, while cafes, pharmacies, and childcare are comparatively sparse. For investors, this mix supports lifestyle convenience while signaling selective retail depth rather than broad amenity saturation.
Multifamily demand is underpinned by a very high neighborhood renter concentration (ranked 12 of 449 in the metro, top percentile nationally), which typically supports leasing velocity and a larger tenant pool. Neighborhood occupancy trends have improved in recent years, though current occupancy ranks 367 of 449 locally and sits below national mid-range levels, suggesting room for asset-level differentiation through management and positioning.
Home values in the neighborhood track above national midpoints, and the value-to-income ratio sits in a higher national percentile, reinforcing reliance on rental housing and supporting pricing power when asset quality is competitive. At the same time, a high rent-to-income burden at the neighborhood level elevates retention risk, making careful lease management and renewals important considerations for underwriting.
Within a 3-mile radius, demographics point to continued renter pool expansion: recent population and household growth have been positive, and forecasts call for further increases alongside shrinking average household size. This combination typically expands demand for smaller units and supports occupancy stability. These directional trends, based on CRE market data from WDSuite and broader multifamily property research, indicate a deepening base of renters even as income bands diversify.
The neighborhood s average construction vintage is 1978; the subject property s 2011 vintage is newer than local stock, which can enhance competitive positioning versus older buildings while still warranting planning for mid-life system updates and selective modernization to capture rent premiums.
Safety metrics for the neighborhood are a consideration. The area ranks 440 out of 449 Miami metro neighborhoods for crime, placing it among the lower tiers locally, and national percentiles indicate below-average safety compared to neighborhoods nationwide. Recent year-over-year indicators point to an uptick in both violent and property offenses. Investors typically account for this through security measures, resident screening, and positioning that emphasizes onsite management and visibility.
Proximity to Downtown and Midtown employment supports renter demand and commuting convenience. Notable nearby employers include Mosaic, World Fuel Services, Johnson & Johnson, Lennar, and Ryder System, which together contribute to a diversified white-collar and corporate services base.
- Mosaic corporate offices (4.97 miles)
- World Fuel Services corporate offices (10.04 miles) HQ
- Johnson & Johnson corporate offices (10.37 miles)
- Lennar corporate offices (10.81 miles) HQ
- Ryder System corporate offices (13.12 miles) HQ
1000 NW 1st Ave offers a 2011-vintage, mid-sized multifamily asset in Miami s urban core, positioned newer than the neighborhood s average stock. The submarket s very high renter concentration and expanding 3-mile tenant base support leasing depth, while the property s relative vintage can help command premiums versus older comparables with targeted refreshes. According to CRE market data from WDSuite, neighborhood occupancy has improved but remains below metro medians, suggesting that hands-on management and thoughtful unit positioning can drive outperformance at the asset level.
Forward-looking demographics within 3 miles point to population growth, a notable increase in households, and smaller household sizes, all of which typically support demand for multifamily housing and stabilize occupancy. Balanced against this, neighborhood-level affordability pressure (high rent-to-income) and safety considerations warrant disciplined leasing strategies, security investments, and prudent renewal management to sustain retention.
- Newer 2011 vintage versus older neighborhood stock, supporting competitive positioning with selective modernization.
- Very high neighborhood renter concentration indicates deep tenant demand and leasing velocity potential.
- 3-mile radius shows population and household growth with shrinking household size, reinforcing demand for rental units and occupancy stability.
- Below-metro occupancy at the neighborhood level creates upside for operational execution and asset differentiation.
- Risks: elevated rent-to-income and lower-tier safety metrics require careful leasing, security, and renewal strategies.