5-Unit Apartment
For Sale
$1,300,000
1346 NW 6th St, Miami, FL 33125
Residential Income, Miami, FL
Property Size2,888 SF
Price / SF$450.14
Days on Market41
Property Features for 1346 NW 6th St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
6107
Bedrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bathroom 5, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 5, Bedroom 3, Bedroom 4
Parking
5
Window features
Blinds
Subdivision
LAWRENCE ESTATE LAND CO
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-02-005-6070
Size
2,888 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
LAWRENCE ESTATE LAND COS SUB PB 2-46 LOT 7 BLK 39 LOT SIZE 7500 SQUARE FEET OR 20101-2779 11 2001 1 COC 23850-0512 11 2001 4
Tax Annual Amount
17965
Legal Description
LAWRENCE ESTATE LAND COS SUB PB 2-46 LOT 7 BLK 39 LOT SIZE 7500 SQUARE FEET OR 20101-2779 11 2001 1 COC 23850-0512 11 2001 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1948
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Florida Capital Realty
(786) 953-5870
Listed By:
Maritza Gonzalez · License #3089949
(786) 554-3505
Added: Jul 30
Changed: Sep 3
Last Checked: Sep 8 at 7:06AM
MLS# A11864674
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5-unit apartment property contains 2,888 square feet in a consistent layout: each residence has one bedroom, one bathroom, a private backyard, and one parking space. The building dates to 1948 and features block construction, tile flooring, a shingle roof, and wall or window cooling units. Public sewer service is in place, with cable available.
The property is positioned directly across from Marlin Stadium T-5, with the stadium area immediately nearby and an open western side without adjoining neighbors. The address is 1346 NW 6th St in Miami, Florida 33125.
The property is positioned directly across from Marlin Stadium T-5, with the stadium area immediately nearby and an open western side without adjoining neighbors. The address is 1346 NW 6th St in Miami, Florida 33125.
Key Highlights
- 5 apartment units with matching 1/1 layouts
- 2,888 square feet across the property
- Each unit includes a private backyard and one parking space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,351
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,067,020
$1.1M
Cap Rate 7%
$762,157
$762.2K
Cap Rate 9%
$592,789
$592.8K
Market Conditions
NOI Build-Up for 2,888 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$104.0K $36.00/SF
− Vacancy
−$7.0K −$2.41/SF
EGI
$97.0K $33.59/SF
− OpEx
−$43.7K −$15.11/SF
NOI
$53.4K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,067,020
Cap Rate 7%
$762,157
Cap Rate 9%
$592,789
Alternative Uses
Best Use
Apartment 5plus
$762.2K
$666.9K – $889.2K
NOI $53,351 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.95M
$1.71M – $2.27M
NOI $136,459 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
4,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Uniform one-bedroom, one-bath layouts include private backyards and dedicated parking spaces.
Where is this apartment building located?
The property is located at 1346 NW 6th St Miami, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 5 apartment units with matching 1/1 layouts; 2,888 square feet across the property; Each unit includes a private backyard and one parking space
