Well-Maintained Triplex Income
For Sale
$599,999
10040 NW 8th Avenue, Miami, FL 33150
Triplex with three occupied units: two 2-bedroom 1-bath units and one 1-bedroom 1-bath unit.
Property Size2,119 SF
Days on Market89
Property Features for 10040 NW 8th Avenue
General Information
Standard status
Active
Size
2,119 SF
Property subtype
Triplex
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,852
Building Details
Building Size
2,119 SF
Year Built
1949
Listing Agency:
Precision Real Estate Group
Listed By:
Daniel Guerrero · License #3460312
(305) 748-3600
Source:
Silverleafrealtygroup
Added: Jun 10
Changed: Sep 2
Last Checked: Sep 5 at 4:47AM
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 Precision Real Estate Group
Investment Insights
Based on property information with market context.
This well-maintained triplex is set up as an income-producing property with three residential units. The configuration includes two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit.
All three units are currently occupied by long-term tenants on month-to-month leases. The property is conveniently located near major roadways, along with shopping, dining, and public transportation.
For prospective owners, the unit mix supports an on-site living option while maintaining rental income, with the month-to-month lease structure providing flexibility for future plans.
All three units are currently occupied by long-term tenants on month-to-month leases. The property is conveniently located near major roadways, along with shopping, dining, and public transportation.
For prospective owners, the unit mix supports an on-site living option while maintaining rental income, with the month-to-month lease structure providing flexibility for future plans.
Key Highlights
- Triplex built in 1949 with three occupied units
- Two units feature 2 bedrooms and 1 bathroom; one unit features 1 bedroom and 1 bathroom
- All three units are currently occupied by long‑term tenants on month‑to‑month leases
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
$42,498
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
7.08%
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%
$849,960
$850.0K
Cap Rate 7%
$607,114
$607.1K
Cap Rate 9%
$472,200
$472.2K
Market Conditions
NOI Build-Up for 2,119 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
$64.8K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$60.7K $28.65/SF
− OpEx
−$18.2K −$8.60/SF
NOI
$42.5K $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%
$849,960
Cap Rate 7%
$607,114
Cap Rate 9%
$472,200
Alternative Uses
Best Use
Multifamily LT 5
$607.1K
$531.2K – $708.3K
NOI $42,498 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$559.2K
$489.3K – $652.4K
NOI $39,145 @ 7.0% cap · market cap 6.52%
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,124 @ 7.0% cap · market cap 16.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
965
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
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 - Triplex with three occupied units: two 2-bedroom 1-bath units and one 1-bedroom 1-bath unit.
Where is this triplex located?
The property is located at 10040 NW 8th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Triplex built in 1949 with three occupied units; Two units feature 2 bedrooms and 1 bathroom; one unit features 1 bedroom and 1 bathroom; All three units are currently occupied by long‑term tenants on month‑to‑month leases
