| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 28th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7855 NE 2nd Ave, Miami, FL, 33138, US |
| Region / Metro | Miami |
| Year of Construction | 2009 |
| Units | 89 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7855 NE 2nd Ave Miami Multifamily Investment
Built in 2009, the asset’s newer vintage stands out in an older Miami urban core, supporting competitive positioning and potential operating efficiency. Neighborhood renter concentration is high, which can deepen the tenant base and support occupancy, according to WDSuite’s CRE market data.
Situated in Miami’s Urban Core, the property benefits from strong amenity access. The neighborhood is competitive among Miami-Miami Beach-Kendall neighborhoods for overall amenities (ranked 56 out of 449) and sits in the top quartile nationally for restaurants, parks, childcare, and cafes. Grocery options are solid, though pharmacy access is limited, which can affect daily convenience for residents.
The housing stock nearby skews older (average vintage 1955), making a 2009 asset relatively modern versus local comparables—often translating to fewer near-term capital items and better renter appeal versus older inventory. Neighborhood schools rate below national norms, which can temper appeal for family renters, but proximity to services and employment can offset some of that effect for workforce households.
Tenant demand fundamentals reflect a high share of renter-occupied housing units in the neighborhood (72.6%), signaling depth in the multifamily renter pool. Neighborhood occupancy is below the metro median, which may require active leasing and retention management, yet the high renter concentration indicates durable underlying demand for apartments.
Within a 3-mile radius, demographics point to a stable-to-growing renter base: households grew over the last five years and are projected to expand further, with population growth and a modest decline in average household size—factors that typically support apartment absorption and lease-up. Home values are elevated for the area (nationally high percentile), reinforcing reliance on rental housing and potential pricing power for well-positioned units. At the same time, rent-to-income levels suggest some affordability pressure, calling for measured rent-setting and renewal strategies. These dynamics are based on commercial real estate analysis from WDSuite and align with broader urban Miami demand patterns.
Safety indicators are mixed when compared with national and metro benchmarks. The neighborhood’s crime ranking sits mid-pack within the Miami-Miami Beach-Kendall metro (192 out of 449), and national percentiles indicate below-median safety. However, recent trend data shows year-over-year declines in both violent and property offenses, suggesting conditions have been improving. Investors should underwrite with conservative assumptions while recognizing the positive trajectory.
Proximity to a diverse set of corporate offices supports renter demand through commute convenience and employment stability, including firms in the immediate Miami core and nearby business districts: Mosaic, Johnson & Johnson, World Fuel Services, Lennar, and Ryder System.
- Mosaic — corporate offices (5.0 miles)
- Johnson & Johnson — corporate offices (7.6 miles)
- World Fuel Services — corporate offices (10.4 miles) — HQ
- Lennar — corporate offices (12.1 miles) — HQ
- Ryder System — corporate offices (12.1 miles) — HQ
This 89-unit, 2009-vintage asset offers a relative quality edge versus an older neighborhood base, helping it compete on finishes, systems, and operating efficiency. The immediate area exhibits a high share of renter-occupied units, bolstering the depth of the tenant base. While neighborhood occupancy trends are below the metro median, nearby amenities and expanding household counts within a 3-mile radius point to steady renter pool expansion and support for long-run leasing. Based on CRE market data from WDSuite, elevated home values in the neighborhood context reinforce reliance on rental housing, though rent-to-income signals call for disciplined pricing and renewal management.
Investor considerations include leveraging the property’s newer vintage to capture demand from renters priced out of ownership, while underwriting for measured absorption and retention given neighborhood occupancy and affordability pressure. Improving safety trends add support to the thesis but should be monitored over time.
- 2009 vintage versus older local stock supports competitive positioning and potentially lower near-term capex
- High neighborhood renter-occupied share indicates a deep tenant base and demand resilience
- Amenity-rich urban core location aids leasing and long-term renter appeal
- Elevated ownership costs locally can support rental demand and pricing power for well-positioned units
- Risks: neighborhood occupancy below metro median and affordability pressure require conservative rent growth and focused retention strategies