The Villages at Miami Gardens | 3400 NW 191st St
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The Villages at Miami Gardens 3400 NW 191st St
50 Unit Block of Flats For Sale Miami Gardens, FL 33056
Investment Highlights
- Excellent Oversized Units with High-End Finishes
- Unique Build to Rent Townhome Product
- Limited Competing Supply
Executive Summary
CBRE, as exclusive marketing advisor, is pleased to present the opportunity to acquire The Villages at Miami Gardens, 50 newly constructed townhomes located in Miami Gardens, only minutes from the recently renovated Hard Rock Stadium and approximately two miles from Florida Turnpike’s ramp. The property presents a rare opportunity to acquire only one of 12 built-to-rent townhome communities in Miami-Dade and only one of 7 that have been constructed over the past 3 years.
Currently there is just under $80,000 in annual loss-to-lease for a new owner to realize by just taking the units to market rent levels. Market rents are estimated, based on nearby comparables, at $3,150 for 3BR units and $3,350 for 4BR units.
In-place NOI is currently at $1.29M yielding a 6.0% cap rate.
The Villages at Miami Gardens is located equidistantly from downtown Miami and downtown Fort Lauderdale allowing for a resident to be to either locations within 25 minutes. In addition, the property is located 1.5 miles from the recently renovated Hard Rock Stadium that is home to a multitude of annual events including all Miami Dolphins games, the Miami F1 Grand Prix and the Miami Open Tennis. In addition, the property is located two miles from accessing the Turnpike allowing quick and easy access to Downtown Miami, Fort Lauderdale, Aventura, Hollywood and both Miami and Fort Lauderdale International Airports.
Currently there is just under $80,000 in annual loss-to-lease for a new owner to realize by just taking the units to market rent levels. Market rents are estimated, based on nearby comparables, at $3,150 for 3BR units and $3,350 for 4BR units.
In-place NOI is currently at $1.29M yielding a 6.0% cap rate.
The Villages at Miami Gardens is located equidistantly from downtown Miami and downtown Fort Lauderdale allowing for a resident to be to either locations within 25 minutes. In addition, the property is located 1.5 miles from the recently renovated Hard Rock Stadium that is home to a multitude of annual events including all Miami Dolphins games, the Miami F1 Grand Prix and the Miami Open Tennis. In addition, the property is located two miles from accessing the Turnpike allowing quick and easy access to Downtown Miami, Fort Lauderdale, Aventura, Hollywood and both Miami and Fort Lauderdale International Airports.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| 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 - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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
| Sale Type | Investment | Building Size | 56,865 SF |
| No. Units | 50 | Average Occupancy | 96% |
| Property Type | Residential | Number of Floors | 2 |
| Property Subtype | Apartment | Year Built | 2021 |
| Apartment Style | Garden | Parking Ratio | 0.87/1,000 SF |
| Building Class | A | Opportunity Zone |
Yes
|
| Lot Size | 3.27 AC |
| Sale Type | Investment |
| No. Units | 50 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | A |
| Lot Size | 3.27 AC |
| Building Size | 56,865 SF |
| Average Occupancy | 96% |
| Number of Floors | 2 |
| Year Built | 2021 |
| Parking Ratio | 0.87/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Wooden Floors
- Oven
- Tub/Shower
- Dining Room
- Freezer
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Fenced Lot
- Picnic Area
- Pet Play Area
- Lift
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 3+2.5 | 36 | £2,504 | 1,251 |
| 4+2.5 | 14 | £2,660 | 1,326 |
PROPERTY TAXES
| Parcel Number | 34-2104-001-0310 | Total Assessment | £6,339,029 (2024) |
| Land Assessment | £0 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £0 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
34-2104-001-0310
Land Assessment
£0 (2024)
Improvements Assessment
£0 (2024)
Total Assessment
£6,339,029 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
zoning
| Zoning Code | 9000 (Multi Use Planned Development) |
| 9000 (Multi Use Planned Development) |
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The Villages at Miami Gardens | 3400 NW 191st St
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