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114 Menores Ave 8 Unit Apartment Building $2,395,000 ($299,375/Unit) 5% Cap Rate Coral Gables, FL 33134
Investment Highlights
- 100% occupied - all 1BR/1BA units
- Full 2020 renovation, no deferred maintenance
- $26,760 annual mark-to-market upside
- 40-year recertification valid through 2035
- 5.00% cap rate on trailing 12-month NOI
- In-unit washers and dryers under warranty
Executive Summary
Fausto Commercial is pleased to present 114 Menores Ave, a renovated, 100% occupied 8-unit multifamily building in Coral Gables' Douglas Section. All eight units are one-bedroom / one-bath averaging approximately 717 SF.
Built in 1925 and fully renovated in 2020, improvements include new PVC/CPVC plumbing on a direct city water connection, in-unit washers and dryers still under manufacturer warranty, motion-sensor LED common-area lighting, secured building entry, and five units delivered furnished. There is no deferred maintenance at the property.
The property passed its 40-year recertification on June 10, 2025, valid through 2035 - a completed capital event that removes the primary diligence hurdle facing most Coral Gables buildings of this vintage and reduces lender and insurer friction at closing.
The current rent roll generates $193,886 gross annually against $74,224 in operating expenses, producing $119,662 in trailing 12-month net operating income - a 5.00% cap rate at the $2,395,000 asking price ($299,375 per unit). In-place rents average $1,996 per unit against a $2,250-$2,300 Coral Gables submarket asking range, with seven of eight leases rolling by August 2027, representing $26,760 of annual mark-to-market upside. Stabilized pro forma market NOI of $123,149 supports a 5.14% cap rate.
Located mid-block on a quiet, tree-lined street one block off Douglas Road - 0.3 miles to Publix and 0.7 miles to Miracle Mile, with walkable access to Shops at Merrick Park, the free Coral Gables Trolley, and downtown Coral Gables. 10 minutes to Brickell and 15 minutes to Miami International Airport.
Offering memorandum available. Rent roll as of 8/1/2026; tenant names withheld and available under executed confidentiality agreement.
Built in 1925 and fully renovated in 2020, improvements include new PVC/CPVC plumbing on a direct city water connection, in-unit washers and dryers still under manufacturer warranty, motion-sensor LED common-area lighting, secured building entry, and five units delivered furnished. There is no deferred maintenance at the property.
The property passed its 40-year recertification on June 10, 2025, valid through 2035 - a completed capital event that removes the primary diligence hurdle facing most Coral Gables buildings of this vintage and reduces lender and insurer friction at closing.
The current rent roll generates $193,886 gross annually against $74,224 in operating expenses, producing $119,662 in trailing 12-month net operating income - a 5.00% cap rate at the $2,395,000 asking price ($299,375 per unit). In-place rents average $1,996 per unit against a $2,250-$2,300 Coral Gables submarket asking range, with seven of eight leases rolling by August 2027, representing $26,760 of annual mark-to-market upside. Stabilized pro forma market NOI of $123,149 supports a 5.14% cap rate.
Located mid-block on a quiet, tree-lined street one block off Douglas Road - 0.3 miles to Publix and 0.7 miles to Miracle Mile, with walkable access to Shops at Merrick Park, the free Coral Gables Trolley, and downtown Coral Gables. 10 minutes to Brickell and 15 minutes to Miami International Airport.
Offering memorandum available. Rent roll as of 8/1/2026; tenant names withheld and available under executed confidentiality agreement.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,395,000 | Apartment Style | Low-Rise |
| Price Per Unit | $299,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 5% | Building Size | 5,736 SF |
| Gross Rent Multiplier | 12.35 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1925/2020 |
| Property Subtype | Apartment | ||
| Zoning | A-13 - Multi-Family | ||
| Price | $2,395,000 |
| Price Per Unit | $299,375 |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 12.35 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 5,736 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1925/2020 |
| Zoning | A-13 - Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Pantry
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $2,275 | 717 |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Good public transit
60/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 03-4108-009-3750 | Total Assessment | $1,482,033 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
03-4108-009-3750
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$1,482,033 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
Contacts
-
Christopher Canizares -
Carlos Fausto Miranda -
Vicente Rodriguez -
Cristina Gonzalez -
Fausto Commercial Realty Consultants
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