For Sale
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1027 NW 29th St, Miami, FL 33125
Residential land & home lots
Property Size5,040 SF
Price / SF$595.24
Days on Market60
Property Features for 1027 NW 29th St
General Information
Standard status
Active
Size
5,040 SF
Property subtype
Multifamily, Land
Zoning
T4O
Investment Type
Redevelopment
Net Operating Income
$70,000
Building Details
Year Built
1946
Buildings
2
Units
4
Tenancy
Multi
Listing Agency:
Fausto Commercial
Listed By:
Miguel Fuentes · License #304804
(305) 443-7423
Source:
Crexi
Added: Aug 10
Changed: Aug 22
Last Checked: Oct 7 at 3:25PM
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 Fausto Commercial
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,080
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,021,600
$2.0M
Cap Rate 7%
$1,444,000
$1.4M
Cap Rate 9%
$1,123,111
$1.1M
Market Conditions
NOI Build-Up for 5,040 SF
Gross rent
$154.2K $30.60/SF
− Vacancy
−$9.8K −$1.95/SF
EGI
$144.4K $28.65/SF
− OpEx
−$43.3K −$8.60/SF
NOI
$101.1K $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 Rate 5%
$2,021,600
Cap Rate 7%
$1,444,000
Cap Rate 9%
$1,123,111
Alternative Uses
Best Use
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $101,080 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $93,106 @ 7.0% cap · market cap 3.10%
Theoretical Best
Specialty Retail
$3.40M
$2.98M – $3.97M
NOI $238,142 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,478
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
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
Where is this residential land & home lot located?
The property is located at 1027 NW 29th St Miami, FL.
What is the asking price?
The asking price for this property is $3,000,000.
