| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Poor |
| Demographics | 19th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1400 NW 54th St, Miami, FL, 33142, US |
| Region / Metro | Miami |
| Year of Construction | 2011 |
| Units | 100 |
| Transaction Date | 2008-06-13 |
| Transaction Price | $1,300,000 |
| Buyer | LIBERTY GATEWAY LTD |
| Seller | INTERNATIONAL CAR WASH INC |
1400 NW 54th St Miami Multifamily Investment
Newer 2011 construction stands out in an older Urban Core pocket with a deep renter base, according to WDSuite s CRE market data; neighborhood metrics cited below reflect area conditions, not this specific property.
The asset is positioned in a C+ rated Urban Core neighborhood where most nearby buildings predate 1970, while this property s 2011 vintage offers a competitive edge versus older stock. For investors, newer construction can help with leasing appeal and curb near-term capital needs, though selective modernization may still be warranted to maintain positioning.
Neighborhood renter concentration is elevated (top quartile nationally), indicating a broad tenant base and durable demand for multifamily. By contrast, neighborhood occupancy trends sit below the national midpoint, so underwriting should emphasize active leasing and renewal management rather than assuming automatic lease-up. These are neighborhood-level signals.
Local amenity access is mixed: grocery and park availability track in the top quartile nationally, and restaurants are comparatively dense, while café and pharmacy density is thinner. Average school ratings in the area trail metro and national norms, which can matter for family-oriented demand segments; investors targeting workforce renters may experience less sensitivity to this factor.
Ownership remains a high-cost proposition in the area relative to incomes (top-end value-to-income metrics nationally), which tends to sustain reliance on multifamily rentals and can support pricing power. At the same time, neighborhood rent-to-income readings imply affordability pressure, creating potential renewal risk if rents outpace wage growth a factor to monitor in leasing strategy.
Within a 3-mile radius, population and household counts have grown and are projected to continue increasing, pointing to renter pool expansion that supports occupancy stability over time. These demographic statistics are aggregated within a 3-mile radius and should be applied at the submarket screening level rather than to the property s in-place tenant mix.
Safety indicators for the neighborhood sit below the national midpoint but near the middle of the 449 Miami metro neighborhoods. Notably, both property and violent offense rates have declined by roughly one-third year over year, suggesting improving momentum rather than a static risk profile. These figures reflect neighborhood-level trends and not the property itself.
For underwriting, this translates to prudent security and operating planning today, with the benefit of a recent improving trajectory. Investors should compare current conditions against peer Urban Core locations across Miami to gauge relative leasing impact and insurance considerations.
The location draws from a diversified white-collar and corporate services base that supports commuter demand and lease retention, including Mosaic, Johnson & Johnson, World Fuel Services, Lennar, and Ryder System.
- Mosaic corporate offices (6.2 miles)
- Johnson & Johnson corporate offices (7.3 miles)
- World Fuel Services corporate offices (8.4 miles) HQ
- Lennar corporate offices (9.9 miles) HQ
- Ryder System corporate offices (10.7 miles) HQ
This 2011, 100-unit asset offers a relative quality advantage in an older Miami Urban Core neighborhood, helping it compete against legacy stock while providing a platform for targeted value-add and modernization. A high neighborhood renter-occupied share and growing 3-mile household base support demand depth, even as area occupancy sits below national midpoints. According to CRE market data from WDSuite, ownership remains high-cost relative to incomes, reinforcing reliance on rentals and potential pricing power, but rent-to-income readings point to affordability pressure that warrants careful renewal and concession strategy.
Amenity access is practical for daily needs groceries, parks, and restaurants score well relative to national peers and proximity to multiple corporate offices underpins a steady commuter tenant base. School scores trail broader benchmarks and safety conditions are improving from a lower starting point, so business plans should incorporate prudent operating and insurance assumptions while leaning on the property s newer vintage and workforce-oriented positioning.
- 2011 construction competes well versus older neighborhood stock with potential for selective, high-ROI upgrades.
- Elevated neighborhood renter concentration and growing 3-mile household base support demand and leasing velocity.
- Daily-needs amenities and access to nearby corporate offices bolster workforce housing appeal.
- Pricing power potential reinforced by high-cost ownership environment relative to incomes.
- Risks: below-midpoint neighborhood occupancy, affordability pressure, and lagging school ratings require disciplined leasing and expense planning.