Triplex with New
For Sale
$749,900
15803 NW 47th Ave, Miami Gardens, FL 33054
Residential Income, Miami Gardens, FL
Property Size1,743 SF
Price / SF$430.24
Days on Market148
Property Features for 15803 NW 47th Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
5
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4
Parking
6
Subdivision
VENETIAN ACRES
Standard status
Active
APN
34-21-17-002-1060
Size
1,743 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
17 52 41 VENETIAN ACRES PB 44-92 N1/2 OF LOT 3 BLK 5 LOT SIZE 35.420 X 300 OR 20601-3596 0901 5 F/A/U 30-2117-002-1060
Tax Annual Amount
6495
Legal Description
17 52 41 VENETIAN ACRES PB 44-92 N1/2 OF LOT 3 BLK 5 LOT SIZE 35.420 X 300 OR 20601-3596 0901 5 F/A/U 30-2117-002-1060
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Electric
Water source
Public
Building Details
Year built
1991
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
John Vergara · License #3291022
(305) 297-3464
Added: May 7
Changed: Oct 1
Last Checked: Oct 1 at 5:06PM
MLS# A12014277
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 1,743-square-foot triplex, built in 1991, contains three residential units with three bathrooms and five bedrooms identified in the room details. The property features block construction, tile flooring, central heating, electric cooling, public water, and a shingle roof described as brand new.
Located at 15803 NW 47th Ave in Miami Gardens, the property is within an area designated for 2-9 units. The site uses a septic tank for wastewater service. An adjacent property is also being offered for sale, providing a directly stated opportunity to consider both properties together.
Located at 15803 NW 47th Ave in Miami Gardens, the property is within an area designated for 2-9 units. The site uses a septic tank for wastewater service. An adjacent property is also being offered for sale, providing a directly stated opportunity to consider both properties together.
Key Highlights
- Three‑unit triplex totaling 1,743 square feet
- Five bedrooms and three bathrooms identified in the room details
- Brand‑new shingle roof
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
$24,879
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
3.32%
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%
$497,580
$497.6K
Cap Rate 7%
$355,414
$355.4K
Cap Rate 9%
$276,433
$276.4K
Market Conditions
NOI Build-Up for 1,743 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
$36.6K $21.00/SF
− Vacancy
−$1.1K −$0.61/SF
EGI
$35.5K $20.39/SF
− OpEx
−$10.7K −$6.12/SF
NOI
$24.9K $14.27/SF
Area
Miami Gardens, FL
Vacancy
2.90%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
30.00%
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%
$497,580
Cap Rate 7%
$355,414
Cap Rate 9%
$276,433
Alternative Uses
Best Use
Multifamily LT 5
$355.4K
$311.0K – $414.7K
NOI $24,879 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$331.1K
$289.7K – $386.3K
NOI $23,176 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$518.9K
$454.1K – $605.4K
NOI $36,324 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
Business Placement
Demographics for 33054, FL
30,352
Population
10,263
Households
3
Avg Household Size
37
Median Age
10%
College-Educated
75%
High-School Grad
8.4 sq mi
ZIP Area
3,613
Density / Sq Mi
$42,779
Median Household Income
$31,147
Median Earnings
$1,346
Median Rent
$291,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit multifamily property with block construction, tile flooring, and central heating in Miami Gardens.
Where is this triplex located?
The property is located at 15803 NW 47th Ave Miami Gardens, FL.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Three‑unit triplex totaling 1,743 square feet; Five bedrooms and three bathrooms identified in the room details; Brand‑new shingle roof
