| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 53rd | Good |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8005 NW 8th St, Miami, FL, 33126, US |
| Region / Metro | Miami |
| Year of Construction | 1997 |
| Units | 105 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8005 NW 8th St Miami Multifamily Investment
Neighborhood occupancy has trended upward with a high share of renter-occupied units, supporting stable leasing fundamentals, according to WDSuite’s CRE market data. The property’s 105-unit scale positions it to capture steady demand while managing turnover efficiently.
Situated in Miami’s Urban Core, the neighborhood rates B+ and is competitive among Miami-Miami Beach-Kendall neighborhoods (ranked 131 out of 449). Restaurants, groceries, and pharmacies are well represented compared with national norms, while parks and cafes are thinner, a mix that supports daily convenience for renters but limits open-space amenities nearby.
Median school ratings in the area trend slightly above the national midpoint, and childcare density is strong. For investors, this supports family-oriented renter appeal, which pairs well with larger unit mixes. Neighborhood occupancy is above the national median and has improved over the past five years, signaling durable demand rather than short-term volatility.
The neighborhood’s renter concentration is high — over half of housing units are renter-occupied — indicating depth in the tenant base. At the same time, the median rent level sits on the higher side for the metro, which can sustain pricing power but requires attentive lease management to support retention.
Demographic statistics aggregated within a 3-mile radius show households have increased even as average household size has edged lower, expanding the pool of potential renters. Forward-looking projections indicate additional household growth with smaller household sizes, a combination that supports occupancy stability and absorption for professionally managed multifamily.
Safety metrics for the neighborhood sit around the middle of the pack within the Miami-Miami Beach-Kendall metro (crime rank 195 out of 449), and below the national median overall. Property crime levels compare weaker nationally, but recent year-over-year trends show improvement, with both violent and property offenses declining.
For underwriting, this translates to typical Urban Core risk management: prioritize on-site security practices and resident screening, while noting that recent momentum reflects improving conditions relative to the prior year.
Proximity to major employers supports commuter convenience and multifamily renter demand, led by corporate headquarters within a short drive and diversified corporate offices slightly farther out. The employers listed below represent nearby drivers of professional and management jobs that can underpin leasing stability.
- Lennar — homebuilding HQ (2.8 miles) — HQ
- World Fuel Services — energy logistics HQ (2.9 miles) — HQ
- Ryder System — logistics & transportation HQ (7.2 miles) — HQ
- Johnson & Johnson — healthcare products offices (8.7 miles)
- Mosaic — commodities & industrial offices (12.8 miles)
Built in 1997, the property is newer than the neighborhood average vintage, offering competitive positioning versus older stock while leaving room for targeted modernization of systems and finishes as part of a value-add plan. At 105 units, operational scale supports professional management and expense leverage. Based on CRE market data from WDSuite, neighborhood occupancy sits above national norms and has strengthened over the past five years, aligning with a high share of renter-occupied housing that signals depth in the tenant base.
Within a 3-mile radius, households have grown and are projected to increase further as average household size declines, pointing to a larger renter pool over time. Ownership costs in the area are relatively elevated compared with incomes, which helps sustain reliance on rental housing; however, rent-to-income levels indicate some affordability pressure that should be managed with thoughtful renewals and amenity programming.
- 1997 vintage offers competitive positioning with selective renovation upside for systems and interiors.
- Neighborhood occupancy above national norms and improving, supporting leasing stability and retention.
- Household growth and smaller household sizes within 3 miles expand the renter pool over time.
- Risks: mid-pack safety metrics for the metro and rent-to-income pressure require active management and underwriting discipline.