| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 75th | Best |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3626 NE 168th St, North Miami Beach, FL, 33160, US |
| Region / Metro | North Miami Beach |
| Year of Construction | 1973 |
| Units | 30 |
| Transaction Date | 2023-10-16 |
| Transaction Price | $6,750,000 |
| Buyer | NANIV MV INVESTMENT LLC |
| Seller | BAYVIEW 30 HOMES LLC |
3626 NE 168th St, North Miami Beach Multifamily Investment
Positioned in an amenity-rich Urban Core pocket of North Miami Beach, this asset benefits from strong neighborhood fundamentals and a high-cost ownership market that underpins renter demand, according to WDSuite s CRE market data.
The immediate neighborhood ranks near the top of the Miami-Miami Beach-Kendall metro for everyday convenience, with restaurants, cafes, groceries, parks, and pharmacies all scoring in the highest national percentiles. Average school ratings are also strong (top quartile nationally), which supports family-oriented renter appeal and can aid longer-term leasing stability.
Construction year for the property is 1973, older than the neighborhood s average 1987 vintage. For investors, that typically points to capital planning and potential value-add opportunities (exteriors, systems, and interiors) to sharpen competitiveness against newer stock while leveraging the area s demand drivers.
Within a 3-mile radius, demographic data indicates a broad, mixed-income renter base and rising earning power, with median incomes up in recent years and household counts projected to increase, implying a larger tenant base ahead. Forecasts point to more households by 2028 and higher contract rents, expanding the effective renter pool and supporting occupancy stability over a multi-year hold, based on CRE market data from WDSuite.
Home values in the neighborhood sit at elevated levels relative to national benchmarks, and the value-to-income ratio is high nationally. In practice, this creates a high-cost ownership market that sustains reliance on rental housing. At the same time, rent-to-income ratios are on the higher side locally, so active lease management and renewal strategies may be important to balance pricing power with retention.
Neighborhood safety indicators compare favorably at the national level, with overall crime measures in the higher (safer) national percentiles. Recent trend data shows notable year-over-year declines in both violent and property offense rates, which supports a constructive outlook without relying on block-level assertions. These figures reflect neighborhood-level patterns rather than property-specific conditions.
Proximity to diversified corporate offices helps sustain renter demand through commute convenience and professional employment density. Nearby employers include Mosaic and Johnson & Johnson, with additional regional headquarters such as AutoNation, World Fuel Services, and Ryder System supporting a stable white-collar tenant base.
- Mosaic corporate offices (8.5 miles)
- Johnson & Johnson healthcare corporate offices (10.3 miles)
- AutoNation automotive retail corporate offices (12.8 miles) HQ
- World Fuel Services energy services corporate offices (16.1 miles) HQ
- Ryder System logistics & transportation corporate offices (16.2 miles) HQ
3626 NE 168th St offers investors exposure to an amenity-dense, A+ rated neighborhood with strong national standings for lifestyle services and schools. The area s elevated home values and high value-to-income ratios reinforce sustained renter reliance on multifamily housing, while 3-mile demographics point to growth in households and rising incomes signals that can support demand depth and leasing performance over time.
Built in 1973, the asset may benefit from targeted renovations and systems upgrades to compete with newer stock. According to commercial real estate analysis from WDSuite, neighborhood rent levels and income trends have been moving upward, and forward-looking projections indicate a larger renter pool. Investors should weigh these strengths against affordability pressures that call for disciplined pricing and renewal management.
- Amenity-rich, top-tier neighborhood with strong schools and daily convenience supporting renter appeal
- Elevated ownership costs locally help sustain multifamily demand and support lease-up and retention
- 3-mile forecasts point to increasing households and incomes, expanding the tenant base
- 1973 vintage suggests value-add and capital planning opportunities to enhance competitiveness
- Risk: higher rent-to-income ratios imply affordability pressure, requiring careful pricing and renewal strategy