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305, 311 & 315 Navarre Ave Portfolio 2 Multifamily Properties Offered at $5,950,000 in Coral Gables, FL
Executive Summary
Fausto Commercial Realty is proud to present a rare multifamily assemblage located at 305, 311 & 315 Navarre Avenue in the heart of Coral Gables. This opportunity consists of two multifamily buildings— one with 9 units and another with 6 units—plus a standalone 4-bedroom house and a detached 1-bedroom cottage on a 24,650 SF MF2-zoned lot. Located just steps from Miracle Mile and directly across the street from the Sofia Coral Gables Apartments, a new luxury development, this site sits at the core of one of South Florida’s most walkable and supply constrained neighborhoods. The current gross income is $409,800, with a pro forma gross potential of $461,400. The actual NOI stands at $254,097, and the pro forma NOI reaches $273,460. If you carve out the house and cottage, which hold an estimated market value of $1,475,000, the remaining 15 rental units are effectively priced at $5.52M, offering a 4% cap rate based on in-place income. MF2-zoned land in Coral Gables is trading at an average of $311/SF, giving the land component alone an estimated value of
approximately $7.6M. Zoning allows for up to 56 units by right, offering long-term upside for redevelopment.
approximately $7.6M. Zoning allows for up to 56 units by right, offering long-term upside for redevelopment.
Property Facts
| Price | $5,950,000 | Number of Properties | 2 |
| Price / SF | $320.89 / SF | Individually For Sale | 1 |
| Cap Rate | 4.27% | Total Building Size | 18,542 SF |
| Sale Type | Investment | Total Land Area | 0.42 AC |
| Status | Active |
| Price | $5,950,000 |
| Price / SF | $320.89 / SF |
| Cap Rate | 4.27% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 1 |
| Total Building Size | 18,542 SF |
| Total Land Area | 0.42 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 305 Navarre Ave, Coral Gables, FL 33134 | Multifamily | 12,126 SF | 1962 | - |
| 315 Navarre Ave, Coral Gables, FL 33134 | Multifamily | 6,416 SF | 1927 | $2,850,000 |
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Contacts
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Vicente Rodriguez -
Christopher Canizares -
Carlos Fausto Miranda -
Fausto Commercial Realty Consultants
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305, 311 & 315 Navarre Ave Portfolio
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