| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Poor |
| Demographics | 18th | Poor |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 525 NW 72nd Ave, Miami, FL, 33126, US |
| Region / Metro | Miami |
| Year of Construction | 1979 |
| Units | 48 |
| Transaction Date | 2003-07-14 |
| Transaction Price | $2,750,000 |
| Buyer | GURKIN LLC |
| Seller | THE GURKIN FAMILY LP |
525 NW 72nd Ave Miami Multifamily Value-Add Opportunity
Neighborhood occupancy trends are above the metro median and renter demand is durable, according to WDSuite’s CRE market data. With larger-than-typical unit sizes, the asset’s positioning supports steady lease-up and retention in Miami’s inner suburb.
Situated in Miami’s Inner Suburb, the neighborhood posts an occupancy rate that is above the metro median among 449 Miami-Miami Beach-Kendall neighborhoods, a constructive backdrop for cash flow durability. Renter-occupied housing accounts for a sizable share of units locally, also above the metro median, indicating a deep tenant base that can support multifamily leasing velocity and renewal activity.
Amenity access is a relative strength: restaurants and cafes are dense compared with most U.S. neighborhoods (restaurants around the 94th percentile nationally; cafes near the 95th), and grocery options are competitive as well (about the 85th percentile). Park access trends above average nationally (roughly the 77th percentile), though pharmacy presence is thin in the immediate area. These features collectively offer day-to-day convenience that supports renter appeal without relying on destination retail.
Home values in the immediate neighborhood are on the lower end compared to national figures, which can introduce some competition from entry-level ownership. Even so, rent-to-income ratios skew high locally, suggesting affordability pressure that investors should manage through targeted lease strategies rather than outsized increases. Framed through multifamily property research, this context points to pricing discipline and tenant retention as key levers.
Within a 3-mile radius, households have grown even as population edged lower, and projections indicate a further increase in household counts by 2028 alongside smaller average household sizes. For multifamily, that dynamic typically broadens the renter pool and supports occupancy stability, especially for well-located, functional product.
Safety indicators are mixed and should be monitored. The neighborhood’s crime ranking places it below many parts of the Miami-Miami Beach-Kendall metro (ranked 404 out of 449 metro neighborhoods), and its national safety standing is in the lower tier. That said, property offenses have shown a year-over-year decline recently, while violent offense estimates have ticked up, underscoring the need for standard risk controls and proactive onsite management.
For investors, the takeaway is comparative rather than block-specific: conditions are weaker than the metro average, but recent improvement in property offenses suggests some stabilization potential. Engagement with local security resources and thoughtful operating practices can help support resident confidence and retention.
The submarket benefits from proximity to several major corporate offices that sustain a broad white-collar and managerial workforce, supporting renter demand and lease retention for workforce and mid-market product. Notable nearby employers include World Fuel Services, Lennar, Ryder System, Johnson & Johnson, and Mosaic.
- World Fuel Services — energy logistics (3.6 miles) — HQ
- Lennar — homebuilding (3.6 miles) — HQ
- Ryder System — transport & logistics (7.8 miles) — HQ
- Johnson & Johnson — healthcare & consumer products (8.9 miles)
- Mosaic — fertilizer & chemicals (12.0 miles)
Built in 1979, this 48-unit property offers classic value-add potential in a Miami inner-suburb location where neighborhood occupancy trends run above the metro median. Larger average unit sizes support competitive positioning against older stock, and proximity to several corporate employers underpins a steady white-collar renter base. According to CRE market data from WDSuite, the local renter concentration is elevated and amenity access is strong, supporting day-to-day livability that can aid renewal rates.
Demographic patterns within a 3-mile radius point to an expanding household base and smaller household sizes through 2028, which typically enlarges the renter pool and supports occupancy stability. At the same time, high rent-to-income ratios in the immediate neighborhood suggest careful lease management is prudent. Safety indicators trail metro norms, so operating discipline and targeted upgrades can be important to maximize retention and pricing power.
- Above-metro neighborhood occupancy and elevated renter concentration support demand stability
- 1979 vintage with larger average unit sizes offers clear value-add and modernization angles
- Strong amenity density and proximity to major employers bolster leasing and renewals
- 3-mile household growth and smaller household sizes expand the tenant base through 2028
- Risks: below-metro safety ranking and elevated rent-to-income ratios call for disciplined operations