North Miami Beach Income
For Sale
$915,000
Pending
733 81st St, Miami Beach, FL 33141
Triplex with two efficiencies, potential income in North Miami Beach.
Property Size3,170 SF
Days on Market277
Property Features for 733 81st St
General Information
Standard status
Pending
Size
3,170 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$14,713
Building Details
Building Size
3,170 SF
Year Built
1950
Stories
1
Units
5
Listing Agency:
Alyons Int'l Realty Inc
(786) 445-6304
Listed By:
Marina Almanzar · License #3261667
(786) 445-6304
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 29 at 10:10AM
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 Alyons Int'l Realty Inc
Investment Insights
Based on property information with market context.
This property in North Miami Beach features a triplex and two efficiencies. The property generates an income of $9,650 per month. Three of the units include light. One of the units, a 2-bedroom, 1.5-bathroom unit, has been remodeled. The building requires a new roof and general TLC. The property is located within walking distance of buses, parks, and the beach. The property has 4 code violations.
Key Highlights
- High income potential: $9,650 per month.
- Triplex with additional efficiencies. Includes a triplex and two efficiencies.
- Remodeled unit: One 2/1.5 unit is remodeled.
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
$52,843
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
5.78%
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%
$1,056,860
$1.1M
Cap Rate 7%
$754,900
$754.9K
Cap Rate 9%
$587,144
$587.1K
Market Conditions
NOI Build-Up for 3,170 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
$79.9K $25.20/SF
− Vacancy
−$4.4K −$1.39/SF
EGI
$75.5K $23.81/SF
− OpEx
−$22.6K −$7.14/SF
NOI
$52.8K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$1,056,860
Cap Rate 7%
$754,900
Cap Rate 9%
$587,144
Alternative Uses
Best Use
Multifamily LT 5
$754.9K
$660.5K – $880.7K
NOI $52,843 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$696.5K
$609.4K – $812.5K
NOI $48,752 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,579 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,084
Businesses Nearby
Explore this area
Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
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 two efficiencies, potential income in North Miami Beach.
Where is this triplex located?
The property is located at 733 81st St Miami Beach, FL.
What is the asking price?
The asking price for this property is $915,000.
What are key features of this property?
This property features: High income potential: $9,650 per month.; Triplex with additional efficiencies. Includes a triplex and two efficiencies.; Remodeled unit: One 2/1.5 unit is remodeled.
