Renovated Triplex with Separate
New
For Sale
$850,000
1000 NW 39th St, Miami, FL 33127
Three-unit property with updated interiors, central air, impact windows, and private utility metering for each residence.
Property Size1,904 SF
Days on Market6
Property Features for 1000 NW 39th St
General Information
Standard status
Active
Size
1,904 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,137
Building Details
Building Size
1,904 SF
Year Built
1955
Stories
1
Units
3
Listing Agency:
Design Realty & Management Inc
(305) 962-2376
Listed By:
Johnnie Allen
(305) 962-2376
Source:
Elliman
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 23 at 8:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Design Realty & Management Inc
Investment Insights
Based on property information with market context.
This renovated triplex at 1000 NW 39th St in Miami includes two two-bedroom, one-bath units and a studio. Improvements include impact windows, central air, wood cabinetry, granite countertops, and stainless-steel appliances. Each residence has its own electric meter and water meter, and the property is enclosed by fencing.
The property is near Midtown and within a few miles of South Beach. Walk Score is 98, reflecting a Walker’s Paradise, while Bike Score is 84 and Transit Score is 50. The address provides access to Miami’s urban amenities and transportation options without relying solely on a vehicle.
The property is near Midtown and within a few miles of South Beach. Walk Score is 98, reflecting a Walker’s Paradise, while Bike Score is 84 and Transit Score is 50. The address provides access to Miami’s urban amenities and transportation options without relying solely on a vehicle.
Key Highlights
- Triplex configuration with two 2/1 units and one studio
- Renovated interiors with wood cabinets and granite countertops
- Impact windows and central air
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
$38,186
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
4.49%
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%
$763,720
$763.7K
Cap Rate 7%
$545,514
$545.5K
Cap Rate 9%
$424,289
$424.3K
Market Conditions
NOI Build-Up for 1,904 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
$58.3K $30.60/SF
− Vacancy
−$3.7K −$1.95/SF
EGI
$54.6K $28.65/SF
− OpEx
−$16.4K −$8.60/SF
NOI
$38.2K $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%
$763,720
Cap Rate 7%
$545,514
Cap Rate 9%
$424,289
Alternative Uses
Best Use
Multifamily LT 5
$545.5K
$477.3K – $636.4K
NOI $38,186 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$502.5K
$439.7K – $586.2K
NOI $35,173 @ 7.0% cap · market cap 4.14%
Theoretical Best
Specialty Retail
$1.29M
$1.12M – $1.50M
NOI $89,965 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,602
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with updated interiors, central air, impact windows, and private utility metering for each residence.
Where is this triplex located?
The property is located at 1000 NW 39th St Miami, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Triplex configuration with two 2/1 units and one studio; Renovated interiors with wood cabinets and granite countertops; Impact windows and central air
