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    675 NW 34th Street Miami, FL 33127

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    Claim this Listing
    For Sale
    $1,700,000

    MULTI_FAMILY - Miami, FL

    Property size:
    1,987 SF
    Price / SF:
    $855/SF
    Added:
    Jan 29, 2025
    Days on Market:
    458
    Last Refresh:
    May 2 at 10:06 pm

    Property Features for 675 NW 34th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    7700
    Bedrooms
    8
    Rooms
    Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 7, Bedroom 5, Bathroom 3, Bedroom 8, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 4
    Patio and Porch features
    Porch
    Exterior features
    Balcony
    Standard status
    Active
    APN
    01-31-25-022-0240
    Size
    1,987 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    PLAN OF LOTS ON BUENA VISTA DRIVE A SUB OF PT OF MEAGHERS SUB LOT 24 PB 6-9 LOT SIZE 7150 SQUARE FEET OR 19604-0105 0401 1
    Tax Annual Amount
    8702

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1928
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile
    Building materials
    Block
    Roof type
    Tile, Flat

    We can help!

    Listing Contact
    Claudia Margarita Pimentel Gomez

    Listing agent Claudia Margarita Pimentel Gomez License #3477938

    Listing office United Realty Group Inc. 975 N Nob Hill Road, Plantation, FL

    Listing date Jan 29, 2025

    MLS# F10483730 Listing URL

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Miami Multifamily with ADUs

    This property features a single-family home with two detached Accessory Dwelling Units (ADUs), presenting an opportunity for house hacking or income generation. Situated in a rapidly growing industrial zone within walking distance of Wynwood Norte, the property offers flexibility for living in one unit while renting out the others. Two adjacent lots provide potential for future development in a high-demand commercial area. The location is near Wynwood, the Design District, Midtown, Miami Beach, and major highways. Positioned at the intersection of Allapattah and Wynwood along the NW 7th Avenue Corridor, the property benefits from high traffic exposure and accessibility. The industrial zoning allows for diverse development options. The property size is 1987 square feet. The property is located in Miami, Florida, with a postal code of 33127. The county is Miami-Dade.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.206989
    Latitude
    25.808513

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    FAQs

    What type of property is this?
    Single family property - Rare multifamily property with ADUs in growing industrial zone.
    Where is this single family property located?
    The property is located at 675 NW 34th Street Miami, FL.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: Prime income‑generating investment with two detached ADUs.; Located in a rapidly growing industrial zone near Wynwood Norte.; Industrial zoning allows for diverse development options.
    (305) 785-4226
    We can help!
    Listing Contact
    Claudia Margarita Pimentel Gomez
    Real Estate License ID: 3477938
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    675 NW 34th Street, Miami, FL 33127

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