| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 32nd | Fair |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3500 NW 18th Ave, Miami, FL, 33142, US |
| Region / Metro | Miami |
| Year of Construction | 1991 |
| Units | 105 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3500 NW 18th Ave Miami Multifamily with Deep Renter Base
Positioned in Miami s urban core, the property benefits from a high neighborhood renter concentration and steady occupancy, according to WDSuite s CRE market data. Investors screening the area can prioritize demand depth and tenant retention over lease-up risk.
The surrounding neighborhood rates C+ and functions as an Urban Core rental hub with a very high share of renter-occupied units (neighborhood metric), supporting consistent demand for multifamily housing. Neighborhood occupancy trends sit around the national middle, suggesting stable leasing but limited vacancy-driven concessions.
Daily-life amenities skew toward recreation and dining: parks density ranks among the top quartile nationally, and restaurants, cafes, and pharmacies cluster at levels that are competitive among Miami neighborhoods. By contrast, grocery and childcare access is thin within the neighborhood footprint, which can influence tenant mix and convenience expectations.
Home values in the neighborhood are relatively low for Miami and have softened in recent years. For investors, a lower-cost ownership landscape can introduce some competition with entry-level ownership, yet the neighborhood s renter-occupied share remains elevated, reinforcing the depth of the tenant base and supporting occupancy stability across cycles.
Within a 3-mile radius, demographics point to gradual population growth and a notable increase in households alongside smaller average household sizes. That pattern typically expands the renter pool and supports absorption for well-managed assets. Average school ratings in the neighborhood trend lower, which may affect family-oriented demand but is less likely to impact workforce renter segments seeking proximity and value.
Safety indicators for the neighborhood are below the national median (national percentile in the low 40s), placing it roughly mid-pack within the Miami metro when considering rank out of 449 neighborhoods. Investors should underwrite prudent security and property management practices appropriate for an Urban Core location.
Recent momentum is constructive: both property and violent offense rates have declined year over year, with property-crime improvement ranking in the top quartile nationally and violent-crime trends improving above national averages. While conditions vary block to block, the directional trend supports a neutral-to-improving risk profile in context.
Nearby corporate offices provide a diversified employment base that can support renter demand and retention, particularly among workforce and office-service tenants. The list below highlights key employers within commuting distance referenced in this submarket: Mosaic, Johnson & Johnson, World Fuel Services, Lennar, and Ryder System.
- Mosaic corporate offices (6.4 miles)
- Johnson & Johnson corporate offices (7.9 miles)
- World Fuel Services corporate offices (8.0 miles) HQ
- Lennar corporate offices (9.2 miles) HQ
- Ryder System corporate offices (10.7 miles) HQ
Built in 1991 with 105 units averaging roughly 727 square feet, the asset is newer than much of the neighborhood s older housing stock. That positioning can be competitive against 1960s-era buildings while still warranting targeted modernization of systems and interiors to sustain rentability and retention. Based on CRE market data from WDSuite, the neighborhood supports a deep renter base and occupancy near the national middle, aligning with a workforce demand profile where leasing remains steady across cycles.
Within a 3-mile radius, WDSuite indicates modest population growth but a stronger increase in households and a trend toward smaller household sizes signals that typically expand the renter pool and support occupancy stability. At the same time, neighborhood affordability pressure (high rent-to-income ratios) and lower school ratings suggest careful lease management and amenity programming to sustain retention and pricing power. Overall, the long-term case centers on operational execution and value-add capex to outperform aging comparables.
- 1991 vintage offers competitive positioning versus older local stock, with clear modernization upside
- High neighborhood renter-occupied share supports a deep tenant base and steady leasing
- 3-mile household growth and smaller household sizes point to renter pool expansion and absorption support
- Amenity strengths in parks, dining, and cafes enhance livability; limited grocery/childcare access may shape tenant mix
- Risks: affordability pressure (rent-to-income), below-median safety levels, and lower school ratings require disciplined operations