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
Lot Size0.13 Acres
Days on Market278
Property Features for 437 NE 30th St
General Information
Standard status
Active
Size
5,220 SF
Lot size
0.13 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$40,636
Building Details
Building Size
5,220 SF
Year Built
1918
Stories
2
Listing Agency:
Global Investments Realty
(305) 635-3005
Listed By:
Joel Rodriguez · License #0545697
(305) 635-3005
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 24
Last Checked: Aug 30 at 8:58PM
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
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 = 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
$96,431
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
3.01%
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%
$1,928,620
$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
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
$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 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%
$1,928,620
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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.
