| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 35th | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1475 NE 111th St, Miami, FL, 33161, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | $800,000 |
| Buyer | BISCAYNE VILLAS INC |
| Seller | JERRY LAZARUS TR |
1475 NE 111th St Miami 27-Unit Multifamily Investment
High renter concentration in the surrounding neighborhood supports depth of demand and steady leasing, according to WDSuite’s CRE market data. Location fundamentals point to durable occupancy with pricing set by an urban Miami renter base rather than seasonal swings.
The property sits within an Urban Core neighborhood of the Miami–Miami Beach–Kendall metro that is above the metro median for housing fundamentals (rank 281 of 449). Neighborhood occupancy is measured at the neighborhood level, not the property, and trends indicate a stable renter ecosystem that has historically supported leasing even as individual assets reposition.
Amenities skew toward lifestyle access: restaurant density ranks competitive among metro peers (rank 64 of 449; top nationally at the 96th percentile), while park availability is also a relative strength (rank 37 of 449; 97th percentile nationally). Daily-needs retail inside the neighborhood footprint is thinner (grocer, cafe, and pharmacy density rank near the bottom of 449 neighborhoods), suggesting residents may rely on short drives for errands—an operational consideration for tenant retention.
Renter-occupied housing is a defining feature: the neighborhood’s renter concentration is high (rank 62 of 449; top decile nationally), pointing to a large tenant base and consistent leasing velocity for multifamily assets. Within a 3-mile radius, households have grown in recent years and are projected to increase further, indicating a larger tenant base and supporting occupancy stability over the medium term. Population within the same 3-mile radius is projected to expand, with smaller average household sizes, which can translate into more renters entering the market.
The asset’s 1972 vintage is slightly newer than the neighborhood’s average construction year of 1966, which typically implies a mix of in-place systems and finishes that may benefit from targeted value-add and capital planning to remain competitive against newer stock. Elevated home values in the neighborhood (around the 80th percentile nationally) reinforce reliance on multifamily rentals, supporting lease retention and pricing power when units are well-positioned.
Affordability requires active management: neighborhood-level contract rents trend above national norms (around the 79th percentile) while rent-to-income ratios are elevated. For operators, this points to prudent renewal strategies and amenity-driven differentiation to sustain occupancy and reduce turnover.
Safety metrics at the neighborhood level are mixed relative to regional and national benchmarks. Crime ranks in the lower half among 449 metro neighborhoods and sits below the national median for safety (national percentiles around the low 30s), indicating investors should underwrite with conservative assumptions and emphasize lighting, access control, and resident engagement.
Recent trend data show property offenses declining year over year (improvement near the national midpoint), while violent-offense indicators remain weaker (around the low teens nationally). These figures are neighborhood-wide—not property-specific—and should be contextualized with site-level measures and management practices.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, including Mosaic, Johnson & Johnson, World Fuel Services, Ryder System, and Lennar.
- Mosaic — corporate offices (5.5 miles)
- Johnson & Johnson — healthcare corporate offices (8.2 miles)
- World Fuel Services — energy services (12.5 miles) — HQ
- Ryder System — logistics & transportation (13.5 miles) — HQ
- Lennar — homebuilding (14.4 miles) — HQ
This 27-unit asset combines Urban Core demand drivers with a renter-heavy neighborhood and sizable household growth within a 3-mile radius, supporting a deeper tenant base over time. Elevated neighborhood home values and above-national rent positioning point to sustained rental reliance, while the 1972 vintage offers clear value-add and capital planning pathways to enhance competitiveness and retention.
Operating strategy should account for elevated rent-to-income ratios and neighborhood safety differentials, but the location’s restaurant and park access, proximity to diversified employers, and larger average unit sizes can underpin leasing and renewal performance when paired with disciplined operations. Based on commercial real estate analysis using WDSuite’s CRE market data, neighborhood occupancy and renter concentration support an income-focused hold with targeted upgrades.
- Renter-heavy neighborhood and projected 3-mile household growth support a larger tenant base and occupancy stability.
- Elevated neighborhood home values reinforce reliance on rentals, aiding pricing power for well-positioned units.
- 1972 vintage provides value-add and systems modernization opportunities to strengthen competitive positioning.
- Diversified nearby employers bolster leasing depth across workforce and professional cohorts.
- Risks: elevated rent-to-income ratios and mixed neighborhood safety metrics require conservative underwriting and active management.