Richmond West, FL Commercial Investment Properties for Sale

Explore commercial real estate investment properties for sale in Richmond West, Florida Market population: 35K. Browse multifamily, office, retail, industrial, and mixed-use investment...

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Prime Turnkey Investment: Modern 2022 Multifamily Condo in Miami's High-Growth 33127

$2,450,000

Miami Multifamily (Condo)

Discover a prime investment opportunity at 136 NW 26th St in Miami, Florida. This Class B multifamily condo property, bu...

Cap Rate %

NOI $0

Size 30,000 SF

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📊 Avg Property Tax Rate For Richmond West FL Properties: 1.3800%

📊 Average Income For Richmond West FL Commercial Property: $61,364

Investor Questions For Richmond West FL

Common questions from investors exploring commercial real estate in Richmond West FL.

What is the overall investment potential of Richmond West, FL? +

The median household income of $61,364, combined with a relatively low poverty rate of 13% and high health insurance coverage of 88%, suggests a stable market with good employment prospects, making it an attractive investment opportunity. Additionally, the top industries, including Healthcare & Social Assistance and Retail Trade, provide a diverse economic base. The city's ethnic diversity, with a mix of White, Black or African American, and Asian populations, also contributes to a vibrant and resilient community.

How does the commute time and transportation infrastructure impact the rental market? +

The average commute time of 34.5 minutes, with a mix of drive alone, carpool, and public transportation options, indicates a well-connected city with relatively easy access to employment centers. This, combined with the high employment rate of 46.8% and low poverty rate, suggests a strong and stable rental market. The public transportation option also caters to a diverse range of tenants, including those who prefer not to drive or cannot afford to.

What are the key factors that influence property values and appreciation in Richmond West, FL? +

The median property value of $281,400, along with a median property tax of $4,200, suggests a relatively affordable housing market. The city's diverse economy, with top industries like Healthcare & Social Assistance and Retail Trade, contributes to a stable demand for housing. Furthermore, the high homeownership rate of 71% and relatively low poverty rate of 13% indicate a strong sense of community, which can drive property appreciation over time.

How does the demographic profile of Richmond West, FL impact the demand for rental properties? +

The city's median age of 39.5, combined with a foreign-born rate of 48%, suggests a diverse and potentially transient population, which can drive demand for rental properties. The top ethnicities, including White, Black or African American, and Asian, also contribute to a vibrant cultural scene, making the city attractive to a wide range of renters. Additionally, the high employment rate and low poverty rate indicate a stable and secure tenant base.

What are the implications of the Gini coefficient and health insurance rate for real estate investors in Richmond West, FL? +

The Gini coefficient of 0.44, which measures income inequality, suggests a relatively balanced distribution of income in the city. When combined with the high health insurance coverage rate of 88%, this indicates a population with access to stable employment and healthcare, making for more reliable tenants. This, in turn, can lead to lower vacancy rates and more consistent rental income for investors, contributing to a more stable and attractive investment environment.

Richmond West FL Real Estate & City Facts

Key facts and real estate information about Richmond West FL.

What are some of the best neighborhoods to live in Richmond West? +

Some of the best neighborhoods to live in Richmond West include the west parts of the city, which tend to be more desirable, while more affordable homes can be found in the east regions. Neighborhoods like Chuck Pezoldt Park and surrounding areas are popular for their family-friendly vibe and amenities.

What are some fun things to do in Richmond West? +

There are plenty of fun things to do in Richmond West, including visiting Zoo Miami, exploring the Vizcaya Museum & Gardens, and taking a stroll through the many parks in the area, such as Chuck Pezoldt Park. You can also find plenty of outdoor activities like biking and hiking, and explore the local culture in nearby Little Havana.

What is the food scene like in Richmond West? +

The food scene in Richmond West is diverse and vibrant, with a range of restaurants serving everything from Latin American cuisine to seafood and pizza. Some popular spots include FarmHouse Miami, Royd's, and El Toro Loco Ranch, as well as food trucks and casual eateries. There are also plenty of great food options in nearby Miami, including Little Havana and the Design District.

What are the pros and cons of living in Richmond West? +

The pros of living in Richmond West include its family-friendly atmosphere, plenty of parks and outdoor spaces, and a range of amenities like restaurants and shops. However, some cons include the potential for traffic and congestion, especially during rush hour, and the fact that some areas can be quite dense and urban. Additionally, the area is still developing, so some residents may find that there are limited options for certain services or amenities.

Is Richmond West a good place to live? +

Overall, Richmond West can be a great place to live for those who value a family-friendly atmosphere, plenty of outdoor spaces, and a range of amenities. While it may have some drawbacks, such as traffic and congestion, the area is still developing and has a lot to offer. It's a good idea to weigh the pros and cons and consider factors like commute time, school districts, and personal preferences before making a decision.

Richmond West, FL Commercial Investment Properties for Sale

Don’t just search properties. See why investors choose REI Capital.

Prime Turnkey Investment: Modern 2022 Multifamily Condo in Miami's High-Growth 33127

📊 Avg Property Tax Rate For Richmond West FL Properties: 1.3800%

📊 Average Income For Richmond West FL Commercial Property: $61,364

Investor Questions For Richmond West FL

Richmond West FL Real Estate & City Facts

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