| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Best |
| Demographics | 91st | Best |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4250 Salzedo St, Coral Gables, FL, 33146, US |
| Region / Metro | Coral Gables |
| Year of Construction | 2003 |
| Units | 61 |
| Transaction Date | 2012-08-01 |
| Transaction Price | $52,250,000 |
| Buyer | MERRICK PARK LLC |
| Seller | MERRICK PARK LLC |
4250 Salzedo St Coral Gables Multifamily Opportunity
Situated in an inner-suburb pocket of Coral Gables with strong income fundamentals, the area supports resilient renter demand, according to WDSuite’s CRE market data. Neighborhood-level occupancy and rent dynamics should be evaluated against nearby comparables, but elevated ownership costs tend to sustain the renter pool.
The property sits in an A-rated neighborhood ranked 38 out of 449 within the Miami–Miami Beach–Kendall metro, placing it in the top quartile among metro neighborhoods. Local incomes and home values track well above national norms (both in the top decile), which typically supports higher-end rental positioning and reduces turnover sensitivity for well-managed assets.
Retail and daily-needs access is solid: grocery density is strong (around the 90th percentile nationally), and restaurants are abundant (upper 90s nationally), while parks, pharmacies, and cafes within the immediate measurement area are comparatively limited. For investors, this mix suggests convenience for residents’ essentials and dining, with potential upside from curated on-site or nearby amenities to widen appeal.
Multifamily rent-setting conditions skew toward the upper end: the neighborhood’s median contract rent benchmarks near the top of U.S. neighborhoods, and renter concentration at the neighborhood level is above the national median. However, neighborhood occupancy is measured at the neighborhood—not the property—and sits below national norms, signaling the need for disciplined leasing strategy and amenity/programmatic differentiation to capture share.
Construction vintage averages 2006 in the immediate neighborhood. With a 2003 delivery, this asset is slightly older than the surrounding stock, which may call for targeted capital planning and selective modernization; the flip side is potential value-add through unit and common-area upgrades that sharpen competitive positioning.
Within a 3-mile radius, demographics point to a well-capitalized tenant base and a smaller average household size trending down over time, supporting one- and two-bedroom demand. Forecasts indicate growth in households by 2028, implying a larger tenant base and reinforcing leasing depth for quality product.
Safety indicators compare favorably at a national level: recent data show the neighborhood in the top quartile nationwide for both overall crime safety and violent-offense safety, according to WDSuite’s CRE market data. Investors should still underwrite micro-location nuances, but the broader read aligns with renter expectations for Coral Gables and supports leasing to professional households.
Metro context matters: among 449 metro neighborhoods, the area is competitive, and year-over-year trends point to improving violent-offense metrics. As always, validate block-level conditions during due diligence and align operating practices (lighting, access control, and resident engagement) with institutional standards.
Proximity to major corporate offices underpins steady renter demand from professional households. Key employers within a short to moderate commute include Lennar, World Fuel Services, Mosaic, Johnson & Johnson, and Ryder System.
- Lennar — corporate offices (7.4 miles) — HQ
- World Fuel Services — energy & logistics corporate offices (7.9 miles) — HQ
- Mosaic — corporate offices (10.3 miles)
- Johnson & Johnson — healthcare corporate offices (12.1 miles)
- Ryder System — transportation & logistics corporate offices (12.2 miles) — HQ
This 61-unit, 2003-vintage asset competes in a high-income Coral Gables neighborhood where home values and renter incomes are well above national averages, bolstering depth of demand for quality rentals. Neighborhood occupancy reads below national norms, so operations should emphasize leasing execution and differentiation; the upside is that top-quartile rent positioning and strong household incomes can support pricing power for competitive product, based on commercial real estate analysis from WDSuite.
The asset is slightly older than the neighborhood’s average delivery, presenting a clear path for targeted renovations and energy/system updates to enhance competitiveness. Within a 3-mile radius, household counts are projected to increase by 2028 while average household size trends smaller, pointing to a larger tenant base and sustained demand for one- and two-bedroom units.
- High-income renter base and elevated home values support retention and pricing power
- Slight vintage delta (2003 vs. newer local stock) creates value-add renovation potential
- Proximity to major employers underpins professional renter demand
- Forecast household growth within 3 miles expands the tenant pool by 2028
- Risk: neighborhood occupancy trails national norms—plan for disciplined leasing and amenity strategy