Edgewater Multifamily Building for
For Sale
$3,200,000
437 NE 30th St, Miami, FL 33137
Two-story, seven-unit building in Edgewater with redevelopment potential.
Property Size5,220 SF
Price / SF$613.03
Days on Market521
Property Features for 437 NE 30th St
General Information
Standard status
Active
Size
5,220 SF
Property subtype
Income/MultiFamily
Taxes and HOA fees
Annual Taxes
$40,636
Building Details
Building Size
5,220 SF
Year Built
1918
Listing Agency:
Global Investments Realty
Listed By:
Joel Rodriguez · License #0545697
(786) 789-0647
Source:
Allyandaj
Added: May 14, 2025
Changed: Oct 16
Last Checked: Oct 16 at 3:51PM
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 Global Investments Realty
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Investment Insights
Based on property information with market context.
This two-story building features 7 living units and is situated on a 5,500 square feet lot. The property is located in the Edgewater neighborhood. The units are currently leased on a month-to-month basis. The T6-36a (L) zoning designation allows for up to 66,000 buildable square feet and 18 units, with the potential to add up to 40% of Floor Lot Ratio (FLR) via public benefit. The property is located next to Biscayne Blvd., a 15-minute drive to Miami Airport, and a 5-minute drive to the Design District, Wynwood, Brickell, and Downtown Miami.
Key Highlights
- Highly desirable Edgewater location, experiencing significant growth.
- Favorable T6‑36a (L) zoning allows up to 66,000 buildable square feet and 18 units, offering significant development potential.
- Month‑to‑month leases provide flexibility.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,431
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,928,620
$1.9M
Cap Rate 7%
$1,377,586
$1.4M
Cap Rate 9%
$1,071,456
$1.1M
Market Conditions
NOI Build-Up for 5,220 SF
Gross rent
$187.9K $36.00/SF
− Vacancy
−$12.6K −$2.41/SF
EGI
$175.3K $33.59/SF
− OpEx
−$78.9K −$15.11/SF
NOI
$96.4K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,928,620
Cap Rate 7%
$1,377,586
Cap Rate 9%
$1,071,456
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,431 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.52M
$3.08M – $4.11M
NOI $246,647 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,593
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story, seven-unit building in Edgewater with redevelopment potential.
Where is this apartment building located?
The property is located at 437 NE 30th St Miami, FL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Highly desirable Edgewater location, experiencing significant growth.; Favorable T6‑36a (L) zoning allows up to 66,000 buildable square feet and 18 units, offering significant development potential.; Month‑to‑month leases provide flexibility.
