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1180 NW 99th St 30,698 SF Specialty Building Offered at $5,300,000 in Miami, FL 33150
Investment Highlights
- Newer 2016 Construction: 20-unit apartment community with impact windows, central A/C, and low-maintenance features.
- Significant Value-Add Opportunity: Lease the existing church and increase below-market apartment rents.
- Expansive 2.0-Acre Site: Rare mixed-use property with future redevelopment potential.
- Stable Section 8 Income: Majority of residential tenants benefit from Housing Choice Voucher assistance.
- Projected 7%+ Cap Rate: Multiple avenues to enhance NOI and long-term investment returns.
- Prime Miami Location: Minutes from Downtown Miami, Miami International Airport, and Interstate 95.
Executive Summary
1180 NW 99th Street presents an exceptionally rare opportunity to acquire a 2.0-acre mixed-use investment in the heart of Miami featuring a newer 20-unit apartment community built in 2016 together with an existing church across six total structures. The apartment community consists of 12 oversized one-bedroom/one-bath units and 8 oversized two-bedroom/two-bath units, with the majority of tenants benefiting from Housing Choice Voucher (Section 8) assistance, providing a stable and reliable income stream. Constructed in 2016, the residential buildings feature shingle roofs, central air conditioning, hurricane impact windows, and one master water meter, resulting in low ongoing maintenance requirements. The church is currently owner-occupied and not generating rental income, creating an immediate value-add opportunity for new ownership to lease the space and establish an additional revenue stream. Combined with the property's below-market apartment rents, investors have the opportunity to significantly increase net operating income, resulting in a projected pro forma cap rate exceeding 7%. The expansive 2-acre site also offers exceptional long-term redevelopment potential. Ideally located just minutes from Downtown Miami, Miami International Airport, and major transportation corridors including Interstate 95, this is a truly one-of-a-kind investment opportunity combining newer construction, stable cash flow, substantial upside, and valuable land in one of Miami's strongest rental markets.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$260,400
|
$8.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$260,400
|
$8.48
|
| Taxes |
-
|
-
|
| Operating Expenses |
$41,412
|
$1.35
|
| Total Expenses |
$41,412
|
$1.35
|
| Net Operating Income |
$218,988
|
$7.13
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $260,400 |
| Annual Per SF | $8.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $260,400 |
| Annual Per SF | $8.48 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $41,412 |
| Annual Per SF | $1.35 |
| Total Expenses | |
|---|---|
| Annual | $41,412 |
| Annual Per SF | $1.35 |
| Net Operating Income | |
|---|---|
| Annual | $218,988 |
| Annual Per SF | $7.13 |
Property Facts
| Price | $5,300,000 | Lot Size | 1.97 AC |
| Price Per SF | $172.65 | Building Size | 30,698 SF |
| Sale Type | Investment or Owner User | No. Stories | 2 |
| Property Type | Specialty | Year Built | 1959 |
| Property Subtype | Religious Facility | Parking Ratio | 2.44/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | RU-2 - (Duplex General; Multifamily 3+ units) | ||
| Price | $5,300,000 |
| Price Per SF | $172.65 |
| Sale Type | Investment or Owner User |
| Property Type | Specialty |
| Property Subtype | Religious Facility |
| Building Class | C |
| Lot Size | 1.97 AC |
| Building Size | 30,698 SF |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 2.44/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RU-2 - (Duplex General; Multifamily 3+ units) |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
20/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 30-3102-036-0010 | Total Assessment | $2,984,586 |
| Land Assessment | $386,356 | Annual Taxes | $0 ($0.00/SF) |
| Improvements Assessment | $2,598,230 | Tax Year | 2025 |
Property Taxes
Parcel Number
30-3102-036-0010
Land Assessment
$386,356
Improvements Assessment
$2,598,230
Total Assessment
$2,984,586
Annual Taxes
$0 ($0.00/SF)
Tax Year
2025
Contacts
-
Elior Levi -
Mitchell Lieberman -
Cristina Gonzalez -
Fausto Commercial Realty Consultants
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