Renovation-Ready
For Sale
$395,000
6936 NW 3rd Ave, Miami, FL 33150
Residential Income, Miami, FL
Property Size1,225 SF
Lot Size0.14 Acres
Price / SF$322.45
Days on Market9
Property Features for 6936 NW 3rd Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
Parking
2
Subdivision
GROVELAND PK
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-13-023-0520
Size
1,225 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GROVELAND PARK PB 6-91 LOT 10 BLK 3 LOT SIZE 50.000 X 125 73R-274848
Tax Annual Amount
2545
Legal Description
GROVELAND PARK PB 6-91 LOT 10 BLK 3 LOT SIZE 50.000 X 125 73R-274848
Utilities
Sewer type
Public Sewer
Building Details
Year built
1959
Floors in Building
1
Flooring type
Terrazzo
Building materials
Block
Roof type
Shingle
Listing Agency:
Charles Rutenberg Realty FTL
(954) 396-3001
Listed By:
Christopher Ladas · License #3462353
(847) 707-9574
Added: Sep 15
Last Checked: Sep 23 at 6:06PM
MLS# A12088477
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 duplex contains 1,225 square feet with two bedrooms and two bathrooms. Built in 1959, the structure features block construction, terrazzo flooring, a shingle roof, and public sewer service. The property is offered in as-is condition and requires complete renovation. The 6,250-square-foot lot includes on-site parking and may support reconfiguration or expansion of the existing improvements, subject to zoning, permitting, and required approvals.
The property is located at 6936 NW 3rd Ave in Miami, near Little Haiti, Little River, the Miami Design District, and surrounding neighborhoods. Access to I-95 and other major transportation corridors provides connectivity to downtown Miami and nearby areas. The site’s existing duplex configuration and lot size offer flexibility for a renovation or approved future improvements.
The property is located at 6936 NW 3rd Ave in Miami, near Little Haiti, Little River, the Miami Design District, and surrounding neighborhoods. Access to I-95 and other major transportation corridors provides connectivity to downtown Miami and nearby areas. The site’s existing duplex configuration and lot size offer flexibility for a renovation or approved future improvements.
Key Highlights
- 6,250‑square‑foot lot with an existing duplex
- 1,225 square feet of building area
- Two bedrooms and two bathrooms
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
$24,568
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
6.22%
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%
$491,360
$491.4K
Cap Rate 7%
$350,971
$351.0K
Cap Rate 9%
$272,978
$273.0K
Market Conditions
NOI Build-Up for 1,225 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
$37.5K $30.60/SF
− Vacancy
−$2.4K −$1.95/SF
EGI
$35.1K $28.65/SF
− OpEx
−$10.5K −$8.60/SF
NOI
$24.6K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /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%
$491,360
Cap Rate 7%
$350,971
Cap Rate 9%
$272,978
Alternative Uses
Best Use
Multifamily LT 5
$351.0K
$307.1K – $409.5K
NOI $24,568 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$323.3K
$282.9K – $377.2K
NOI $22,630 @ 7.0% cap · market cap 5.73%
Theoretical Best
Specialty Retail
$826.9K
$723.5K – $964.7K
NOI $57,882 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,583
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom duplex on a sizable parcel with on-site parking and public sewer service.
Where is this duplex located?
The property is located at 6936 NW 3rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 6,250‑square‑foot lot with an existing duplex; 1,225 square feet of building area; Two bedrooms and two bathrooms
