| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 55th | Good |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 357 NW 3rd St, Miami, FL, 33128, US |
| Region / Metro | Miami |
| Year of Construction | 1972 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
357 NW 3rd St, Miami Multifamily Investment
Urban-core location with deep renter demand, supported by a high neighborhood share of renter-occupied housing units and steady leasing needs, according to WDSuite’s CRE market data. Neighborhood occupancy and tenure metrics reflect the surrounding area, not this specific property.
Located in Miami’s Urban Core, the property sits in a neighborhood rated B+ (ranked 161 among 449 metro neighborhoods), indicating competitive fundamentals within the metro. Restaurants and parks are neighborhood strengths, with restaurant density and park access both in the top national percentiles, while day-to-day retail like groceries, pharmacies, and cafes are comparatively limited within the immediate blocks.
For investors, the local renter base is substantial: the neighborhood shows a high share of renter-occupied housing units (99th percentile nationally). That depth supports tenant sourcing and leasing velocity, though overall neighborhood occupancy trends benchmark below the national median, pointing to the importance of management and pricing discipline to sustain stability.
Home values in the neighborhood are elevated relative to national markets, which tends to reinforce reliance on multifamily rentals and supports pricing power when product is well-positioned. At the same time, rent-to-income levels indicate affordability pressure in the area, a consideration for lease management and renewal strategies.
Within a 3-mile radius, the population has grown and households have expanded faster than population, with forecasts pointing to continued increases in households and smaller average household sizes. This trend supports demand for efficient floor plans; the property’s average unit size of roughly 610 square feet aligns with a growing small-household renter pool. The building’s 1972 vintage is older than the neighborhood’s average construction year, suggesting value-add or systems modernization potential to compete against newer stock.
Neighborhood safety indicators trend below the national median, so investors should underwrite with appropriate operating assumptions and resident-experience practices. Recent data shows year-over-year declines in violent offense rates at the neighborhood level, while property offense rates have improved modestly; together, these trends point to gradual improvement but not a top-tier safety profile. Ranks and metrics reflect comparisons among 449 neighborhoods in the Miami metro and national benchmarks; they describe the broader neighborhood, not this specific address.
Nearby corporate offices provide a diversified employment base that supports renter demand and leasing retention, particularly for urban workforce and professional tenants. Key employers include Mosaic, World Fuel Services, Lennar, Johnson & Johnson, and Ryder System.
- Mosaic — corporate offices (5.4 miles)
- World Fuel Services — corporate offices (9.9 miles) — HQ
- Lennar — corporate offices (10.5 miles) — HQ
- Johnson & Johnson — corporate offices (10.6 miles)
- Ryder System — corporate offices (13.1 miles) — HQ
357 NW 3rd St offers 32 units in Miami’s Urban Core with a strong surrounding renter base and proximity-driven demand from major employers. The neighborhood’s elevated home values support sustained reliance on rental housing, while restaurants and park access rank competitively at the national level. According to CRE market data from WDSuite, neighborhood occupancy trends sit below national medians, underscoring the need for hands-on leasing and renewal strategies.
The 1972 vintage positions the asset for value-add through interior updates, systems modernization, or amenity enhancements to improve competitive standing versus newer supply. Within a 3-mile radius, population growth and a projected increase in households alongside smaller household sizes point to continued demand for efficient units; the average unit size near 610 square feet aligns with that trajectory. Underwriting should account for neighborhood affordability pressure and balanced expectations on safety and operations.
- Deep neighborhood renter concentration supports tenant sourcing and leasing velocity.
- Elevated home values in the area reinforce rental demand and pricing power for well-positioned units.
- 1972 vintage offers value-add potential through renovations and modernization to compete with newer product.
- Household growth and smaller household sizes within 3 miles favor efficient floor plans like the property’s average unit size.
- Risks: neighborhood occupancy below national medians, affordability pressure, and a safety profile that warrants prudent operations.