| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Poor |
| Demographics | 28th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8300 NE 1st Pl, Miami, FL, 33138, US |
| Region / Metro | Miami |
| Year of Construction | 2008 |
| Units | 110 |
| Transaction Date | 2006-11-15 |
| Transaction Price | $2,650,000 |
| Buyer | PINNACLE SQUARE LTD |
| Seller | 144 NE 84 PROPERTY LLC |
8300 NE 1st Pl Miami Multifamily Investment
Built in 2008, this asset competes well against an older local rental stock and benefits from a high neighborhood renter concentration, according to WDSuite’s CRE market data. Neighborhood occupancy trends and income mix suggest disciplined lease management will be important for pricing power.
Positioned in Miami’s Urban Core, the property sits in a neighborhood rated B and ranked 188 out of 449 within the Miami metro, indicating performance around the metro middle with selective strengths investors value. The local housing stock skews older (average 1955), so 2008 vintage offers a relative competitive edge and can reduce near-term capital exposure while leaving room for selective modernization to capture demand.
Amenities are a clear differentiator: restaurants and cafes score in the top national percentiles, and parks density is similarly strong, supporting day-to-day livability that helps with leasing velocity and retention. Grocery access trends above national norms, while pharmacy options are limited, a minor convenience consideration to weigh in underwriting.
Tenure patterns indicate depth of the renter base: the neighborhood’s share of renter-occupied housing ranks near the top among 449 metro neighborhoods, signaling consistent multifamily demand rather than owner-occupant turnover. Neighborhood occupancy is lower versus many peer areas and has softened over five years, so thoughtful amenity positioning and unit finish differentiation may be important to sustain occupancy.
Within a 3-mile radius, recent data show households have grown even as population edged down, pointing to smaller household sizes and a broader pool of renting households. Forward-looking projections indicate population and household growth by 2028, which supports a larger tenant base and potential lease-up resilience. Home values are elevated relative to local incomes and the value-to-income ratio trends high, which generally sustains reliance on rental housing and can support demand for well-located units.
School ratings trail metro leaders, which may be less critical for studios and one-bedrooms but is a consideration for larger formats. Overall, the combination of strong amenity access, high renter concentration, and a newer-than-average asset positions the property to compete effectively, based on commercial real estate analysis from WDSuite.
Safety indicators are mixed and should be underwritten with care. The neighborhood’s crime ranking is 192 out of 449 Miami metro neighborhoods, suggesting relatively higher incident rates than the metro median. Nationally, the area sits below the median for overall safety, with violent offense levels ranking in lower national percentiles; however, both violent and property offense rates have improved year over year, indicating a favorable directional trend.
For investors, the takeaway is pragmatic: current safety levels may necessitate enhanced on-site management, lighting, and access controls, while the improving trajectory can support leasing and retention if reinforced by property-level measures.
Proximity to a diversified set of corporate offices underpins renter demand through commute convenience and steady white-collar employment, including Mosaic, Johnson & Johnson, World Fuel Services, Ryder System, and Lennar.
- Mosaic — corporate offices (5.3 miles)
- Johnson & Johnson — corporate offices (7.3 miles)
- World Fuel Services — corporate offices (10.4 miles) — HQ
- Ryder System — corporate offices (12.0 miles) — HQ
- Lennar — corporate offices (12.1 miles) — HQ
This 2008-vintage, 110-unit asset stands out in an Urban Core neighborhood where the average construction year is 1955, giving it a competitive position against older stock while still leaving room for targeted value-add to finishes and common areas. A high share of renter-occupied housing at the neighborhood level indicates a deep tenant base, and strong amenity access (restaurants, cafes, parks, and groceries) supports lease-up and retention. According to CRE market data from WDSuite, neighborhood occupancy has been softer and trending down, so execution around marketing, concessions, and renewals will be key to stabilize and grow NOI.
Within a 3-mile radius, households have increased and are projected to grow further by 2028, pointing to renter pool expansion even as household sizes moderate. Elevated home values relative to incomes reinforce reliance on multifamily, which can support demand and pricing for well-located, newer assets. Balancing these strengths are considerations around below-median school ratings and safety metrics that, while improving, call for active property management.
- 2008 construction competes well versus older neighborhood stock, with targeted value-add potential
- High neighborhood renter-occupied share supports depth of tenant base and leasing stability
- Strong amenity access (food, parks, groceries) aids retention and pricing power
- 3-mile household growth outlook points to renter pool expansion by 2028
- Risks: softer neighborhood occupancy, below-median school ratings, and safety requiring proactive management