| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Poor |
| Demographics | 33rd | Fair |
| Amenities | 89th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 255 Sierra Dr, Miami, FL, 33179, US |
| Region / Metro | Miami |
| Year of Construction | 1997 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
255 Sierra Dr Miami 80-Unit Multifamily Investment
Neighborhood renter demand is supported by a high renter-occupied share and dense daily-needs amenities, while occupancy trends at the neighborhood level suggest room for operational upside, according to WDSuite’s CRE market data.
Located in Miami’s inner suburbs, the neighborhood carries a B+ rating and ranks 146 out of 449 metro neighborhoods — competitive among Miami-Miami Beach-Kendall submarkets. Dense retail fundamentals stand out: grocery access sits near the top nationally and restaurants, parks, and pharmacies are present at levels well above U.S. averages. These patterns support day-to-day convenience that helps with leasing and renewal.
The area shows a high concentration of renter-occupied housing (measured at the neighborhood level), indicating a sizable tenant base for multifamily operators and generally deeper leasing pipelines. Within a 3-mile radius, recent population and household growth, with forecasts calling for additional household expansion and smaller average household sizes, point to a larger renter pool over the next cycle. This backdrop can support occupancy stability and absorption for well-positioned assets.
Homeownership costs are relatively elevated versus local incomes at the neighborhood level, which tends to sustain reliance on rental housing. At the same time, rent-to-income ratios tracked by WDSuite indicate manageable affordability pressure in the neighborhood, a constructive signal for retention and collections. School quality nearby trends below national midpoints, which may matter for family-oriented unit mixes, but strong amenity access and employment reach help offset.
The property’s 1997 construction is newer than the neighborhood’s older housing stock (average vintage measured locally is late 1960s). That relative youth can be a competitive advantage on unit quality and systems, while still offering potential modernization or value-add scope (interiors, building systems) to capture incremental rent where supported by the market. Neighborhood-level occupancy runs softer, which underscores the importance of hands-on leasing and management but also leaves room to outperform with targeted upgrades and service.
Neighborhood safety indicators are mixed in a way investors should underwrite thoughtfully. Within the Miami-Miami Beach-Kendall metro, the area ranks 146 out of 449 neighborhoods, which is competitive among metro peers. Compared with neighborhoods nationwide, overall safety trends sit around the national middle, while violent offense rates track below the national middle.
Trend direction is constructive: both violent and property offense rates have moved lower year over year, with property crime showing a strong improvement pace and violent crime declining at a faster-than-average clip. These are neighborhood-level measures and can support leasing and retention when paired with on-site security protocols and resident engagement.
Proximity to diversified employers — including healthcare, life sciences, automotive retail, logistics, energy, and homebuilding — broadens the commuter tenant base and can aid leasing stability for workforce-oriented units.
- Johnson & Johnson — life sciences offices (7.2 miles)
- Mosaic — corporate offices (10.9 miles)
- AutoNation — automotive retail HQ (11.9 miles) — HQ
- Ryder System — logistics & transportation (13.2 miles) — HQ
- World Fuel Services — energy & fuel services (14.0 miles) — HQ
255 Sierra Dr offers 80 units built in 1997, giving it a competitive position versus older neighborhood stock while preserving room for value-add through selective modernization. Investor appeal is grounded in a high neighborhood renter-occupied share, dense daily-needs amenities that support lease retention, and a homeownership landscape that reinforces reliance on rental housing. Based on commercial real estate analysis from WDSuite, neighborhood rents appear supportable relative to incomes, which can aid collections and renewals.
Counterbalancing strengths, neighborhood-level occupancy trends run softer and school ratings trail national midpoints, so lease-up cadence may hinge on effective management, unit finishes, and pricing discipline. The 3-mile area shows growing and diversifying households with forecasts pointing to further expansion and smaller household sizes — tailwinds for demand depth over the medium term.
- 1997 vintage offers competitive positioning with scope for targeted value-add
- High renter-occupied share and dense amenities support tenant base and renewals
- Ownership costs relative to incomes reinforce sustained rental demand
- 3-mile radius shows population and household growth, supporting absorption
- Risks: softer neighborhood occupancy and below-average schools may affect lease-up; proactive management and pricing are key