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$2,395,000
Est. payment /mo
6,432 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,432 sqft
Price per Sqft $372
MLS Listing ID A12092653
HOA Y/N No
Year Built 1925
Lot Size 8,250 Sqft
Property Sub-Type Multi Family
Property Description
Fausto Commercial is pleased to present
an exclusive opportunity to acquire 114
Menores Ave, a renovated, income-
producing 8-unit multifamily building in
Coral Gables' Douglas Section. The asset is
100% occupied, fully stabilized, and offers
durable in-place cash flow with additional
upside through mark-to-market rents
supported by nearby comparable
properties.
Built in 1925 and renovated in 2020, the building
comprises eight highly attractive and sought-
after one-bedroom units averaging
approximately 717 square feet. Improvements
include new PVC/CPVC plumbing on a direct
city connection, in-unit washers and dryers still
under warranty, motion-sensor LED common-
area lighting, and secured building entry. The
property passed its 40-year recertification on
June 10, 2025, valid through 2035 — a
completed capital event and diligence hurdle
that most Coral Gables buildings of this vintage
still face. The current rent roll generates
$193,886 gross annually against $74,224 in
operating expenses, a 38.3% expense ratio, for
$119,662 in trailing net operating income. In-
place rents average $1,996 per unit against
submarket asking rents of $2,250–$2,300, with
seven of eight leases rolling by August 2027.
Location is one block off Douglas Road in one of
Coral Gables' most walkable residential
neighborhoods — 0.3 miles to Publix, 0.7 miles
to Miracle Mile.
Fully recertified through 2035 and 100%
occupied, with staggered leases running to
August 2027
an exclusive opportunity to acquire 114
Menores Ave, a renovated, income-
producing 8-unit multifamily building in
Coral Gables' Douglas Section. The asset is
100% occupied, fully stabilized, and offers
durable in-place cash flow with additional
upside through mark-to-market rents
supported by nearby comparable
properties.
Built in 1925 and renovated in 2020, the building
comprises eight highly attractive and sought-
after one-bedroom units averaging
approximately 717 square feet. Improvements
include new PVC/CPVC plumbing on a direct
city connection, in-unit washers and dryers still
under warranty, motion-sensor LED common-
area lighting, and secured building entry. The
property passed its 40-year recertification on
June 10, 2025, valid through 2035 — a
completed capital event and diligence hurdle
that most Coral Gables buildings of this vintage
still face. The current rent roll generates
$193,886 gross annually against $74,224 in
operating expenses, a 38.3% expense ratio, for
$119,662 in trailing net operating income. In-
place rents average $1,996 per unit against
submarket asking rents of $2,250–$2,300, with
seven of eight leases rolling by August 2027.
Location is one block off Douglas Road in one of
Coral Gables' most walkable residential
neighborhoods — 0.3 miles to Publix, 0.7 miles
to Miracle Mile.
Fully recertified through 2035 and 100%
occupied, with staggered leases running to
August 2027
Location
State FL
County Miami-dade
Area 41
Zoning 3801
Exterior
Private Pool Yes
Others
Tax ID 03-41-08-009-3750
Acceptable Financing Conventional, Other
Listing Terms Conventional, Other
Virtual Tour https://www.propertypanorama.com/instaview/mia/A12092653
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Listed by Fausto Commercial Realty Consultants Inc
NEARBY SCHOOL & BUSINESS
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