| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 93rd | Best |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1550 Brickell Ave, Miami, FL, 33129, US |
| Region / Metro | Miami |
| Year of Construction | 1988 |
| Units | 68 |
| Transaction Date | 2012-05-21 |
| Transaction Price | $1,000,000 |
| Buyer | 1550 BRICKELL ASSOCIATES |
| Seller | GREEN CONSTRUCTION CORP #2 INC |
1550 Brickell Ave Miami Multifamily Investment in Brickell
Positioned in Miami’s Brickell urban core, the asset benefits from a deep renter pool, high household incomes, and amenity density that supports leasing durability—according to WDSuite’s CRE market data. Investors should also account for neighborhood occupancy variability when underwriting revenue stability.
Brickell functions as Miami’s Urban Core with dense retail, dining, parks, and daily-needs access. Amenity availability ranks competitively—top quartile nationally for parks, groceries, restaurants, and childcare—supporting convenience and retention for urban renters, based on CRE market data from WDSuite. The neighborhood’s NOI per unit profile is among the very top performers out of 449 metro neighborhoods, signaling strong rent levels and expense capture for well-run assets.
The property’s 1988 vintage is slightly older than the neighborhood’s average construction year, creating potential value-add and capital planning opportunities (exteriors, systems, common areas) to stay competitive against newer supply while leveraging Brickell fundamentals. Median contract rents in the neighborhood have grown over the last five years, and home values remain elevated relative to incomes—conditions that tend to reinforce renter reliance on multifamily housing and support pricing power at stabilized assets.
Within a 3-mile radius, the population and household counts have grown, with forecasts calling for further household expansion and smaller average household sizes. This combination typically widens the tenant base and supports occupancy stability for studios and smaller floorplans. Renter-occupied housing accounts for a high share of units within this radius, indicating a deep pool of prospective tenants for a 68-unit community with average unit sizes around 600 square feet.
At the metro level, Brickell’s neighborhood rating sits near the top of Miami-Miami Beach-Kendall, with demographics ranking among the best out of 449 neighborhoods. While the neighborhood’s occupancy rank trails higher-performing subareas nationally, the local renter pool, amenity access, and income depth remain durable demand drivers that can mitigate volatility with thoughtful leasing and renewal strategies.
Safety outcomes in this neighborhood are mixed relative to broader benchmarks. Within the Miami-Miami Beach-Kendall metro, overall crime sits around the metro median among 449 neighborhoods, while national comparisons place the area below the national average for safety. Investors should calibrate operating assumptions accordingly—higher-quality access control, lighting, and on-site management can help sustain leasing velocity and retention.
Recent trends offer some constructive signals: property-related offenses have declined year over year according to WDSuite’s data, while violent-offense indicators remain an ongoing watch item compared with safer national peers. Framing the risk in underwriting and insurance line items is prudent, with emphasis on security features that align to urban-core expectations.
Proximity to major corporate offices underpins weekday population and supports renter demand from professionals seeking short commutes. Notable employers nearby include Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — chemicals & fertilizer offices (5.8 miles)
- World Fuel Services — energy logistics (10.6 miles) — HQ
- Lennar — homebuilding (11.0 miles) — HQ
- Johnson & Johnson — healthcare & pharma offices (12.0 miles)
- Ryder System — transportation & logistics (14.1 miles) — HQ
1550 Brickell Ave sits in one of Miami’s highest-amenity, income-dense neighborhoods, where elevated home values and strong household earnings support resilient multifamily demand. The 1988 vintage suggests actionable value-add and capital planning potential to compete effectively with newer stock. Within a 3-mile radius, population and households are expanding and renter-occupied housing remains prevalent, which typically supports a larger tenant base and steadier leasing. According to CRE market data from WDSuite, neighborhood-level performance shows strong NOI potential alongside amenity depth—key pillars for long-term holding strategies.
Key underwriting considerations include neighborhood occupancy variability versus national peers and an urban-core safety profile that benefits from proactive security and management practices. With thoughtful renovations and disciplined leasing, the asset can leverage Brickell’s employment access and convenience to sustain absorption and renewal momentum.
- Amenity-rich, income-dense urban core supports demand and pricing power
- 1988 vintage offers value-add and CapEx pathways to stay competitive
- Expanding 3-mile renter pool and household growth bolster leasing and retention
- Strong NOI potential in a top-ranked Miami neighborhood, per WDSuite data
- Risks: neighborhood occupancy variability and urban-core safety require prudent underwriting