| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 33rd | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 312 NW 9th Ave, Miami, FL, 33128, US |
| Region / Metro | Miami |
| Year of Construction | 2001 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | $2,750,000 |
| Buyer | PENINSULA HOUSING DEVELOPMENT INC |
| Seller | VICTORIA PARTNERS |
312 NW 9th Ave Miami Multifamily Investment
Renter demand is supported by a high renter-occupied share in the surrounding neighborhood and occupancy near the metro median, according to WDSuite’s CRE market data. The location offers urban convenience that can sustain leasing, with pricing power tempered by local affordability pressure.
This Urban Core neighborhood in Miami ranks 140 out of 449 metro neighborhoods (B+ rating), placing it above the metro median overall. Amenity access is a clear strength: restaurants, cafes, groceries, and pharmacies rank competitive to top quartile among the 449 metro neighborhoods, and national percentiles for these categories are strong as well (notably high for restaurants and cafes). Park access is limited, however, which may influence lifestyle appeal for some renter cohorts.
The property’s 2001 construction is newer than the neighborhood’s average vintage of 1972. That positioning can enhance competitiveness versus older stock and may reduce near-term capital needs, while still warranting attention to aging systems and potential modernization to support rent attainment.
Neighborhood occupancy is roughly around the national median, and the renter-occupied share is very high (top percentile nationally). For investors, that points to a deep tenant base and potential demand stability for multifamily assets, though lease management should account for resident mobility typical of urban submarkets.
Within a 3-mile radius, population and households have been expanding and are projected to continue growing over the next five years, indicating a larger tenant base and possible renter pool expansion. Median home values in the neighborhood are elevated (mid-80s national percentile), reinforcing reliance on multifamily housing; at the same time, rent-to-income levels indicate some affordability pressure, which can affect retention and renewal strategies. School ratings signal limited performance in this immediate area, which may skew demand toward singles and smaller households rather than family-oriented renters. These dynamics align with sustained urban renter demand patterns in Miami, based on CRE market data from WDSuite.
Safety indicators are weaker than both national and metro medians, with crime metrics ranking in the lower tier among 449 metro neighborhoods and national percentiles below the midpoint. Recent trend data shows modest improvement with year-over-year declines in both property and violent offenses, suggesting gradual progress. Investors typically address these dynamics through property-level security measures and resident engagement to support retention and leasing stability.
Nearby corporate offices provide a diversified employment base that supports workforce renter demand and commute convenience. The list below highlights notable employers within a commutable radius that can help underpin leasing.
- Mosaic — corporate offices (5.9 miles)
- World Fuel Services — corporate offices (9.3 miles) — HQ
- Lennar — corporate offices (10.0 miles) — HQ
- Johnson & Johnson — corporate offices (10.3 miles)
- Ryder System — corporate offices (12.6 miles) — HQ
312 NW 9th Ave sits in an amenity-rich Miami Urban Core location where cafes, restaurants, and daily needs retail score competitive to top-quartile within the metro. The 2001 vintage is newer than the area’s average stock and can offer relative competitiveness versus older assets, while still benefiting from targeted upgrades to drive rent performance. Elevated ownership costs in the neighborhood support reliance on rental housing, and within a 3-mile radius both recent and projected growth in households point to a larger tenant base that can support occupancy. According to CRE market data from WDSuite, neighborhood occupancy is around the metro median and the renter-occupied share is very high, underscoring demand depth for multifamily.
Key considerations include affordability pressure implied by local rent-to-income levels, limited park access, school ratings that appear weak, and safety metrics that trail metro and national averages despite recent declines. Prudent asset management—focused on resident experience, security, and modernization—can help sustain leasing and retention in this urban setting.
- Urban Core location with strong amenity access and daily-needs convenience
- 2001 vintage offers competitive positioning versus older neighborhood stock with value-add modernization potential
- High renter-occupied share and expanding 3-mile household base support demand depth and occupancy stability
- Elevated home values bolster reliance on rentals, supporting pricing power when paired with thoughtful lease management
- Risks: affordability pressure, limited park access, weaker school and safety signals require active property and leasing management