Renovated
For Sale
$850,000
1237 Northwest 33rd Avenue, Miami, FL 33125
Renovated multifamily property with flexible occupancy across three residential units.
Property Size2,060 SF
Price / SF$412.62
Days on Market462
Property Features for 1237 Northwest 33rd Avenue
General Information
Standard status
Active
Size
2,060 SF
Property subtype
Multi-Family Income / Duplex
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,781
Building Details
Year Built
1924
Listing Agency:
Brickellmania, LLC.
(786) 771-3005
Listed By:
Yanai Nassar · License #3061572
(786) 771-3005
Source:
Compass
Added: May 26, 2025
Changed: Aug 29
Last Checked: Aug 29 at 7:52PM
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 Brickellmania, LLC.
Investment Insights
Based on property information with market context.
This renovated triplex contains three residential units, each arranged with two bedrooms and one bathroom. The property provides 2,060 square feet of building area and was originally constructed in 1924.
Two units are occupied under month-to-month arrangements, while the third is currently vacant. Located at 1237 Northwest 33rd Avenue in Miami, Florida, the property offers a three-unit residential configuration for multifamily ownership or an owner-occupant arrangement.
Two units are occupied under month-to-month arrangements, while the third is currently vacant. Located at 1237 Northwest 33rd Avenue in Miami, Florida, the property offers a three-unit residential configuration for multifamily ownership or an owner-occupant arrangement.
Key Highlights
- Three‑unit triplex with 2,060 SF of building area
- Each unit includes 2 bedrooms and 1 bathroom
- Two units are rented month to month
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
$41,314
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
4.86%
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%
$826,280
$826.3K
Cap Rate 7%
$590,200
$590.2K
Cap Rate 9%
$459,044
$459.0K
Market Conditions
NOI Build-Up for 2,060 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
$63.0K $30.60/SF
− Vacancy
−$4.0K −$1.95/SF
EGI
$59.0K $28.65/SF
− OpEx
−$17.7K −$8.60/SF
NOI
$41.3K $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%
$826,280
Cap Rate 7%
$590,200
Cap Rate 9%
$459,044
Alternative Uses
Best Use
Multifamily LT 5
$590.2K
$516.4K – $688.6K
NOI $41,314 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$543.6K
$475.7K – $634.3K
NOI $38,055 @ 7.0% cap · market cap 4.48%
Theoretical Best
Specialty Retail
$1.39M
$1.22M – $1.62M
NOI $97,336 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,267
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
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 - Renovated multifamily property with flexible occupancy across three residential units.
Where is this triplex located?
The property is located at 1237 Northwest 33rd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Three‑unit triplex with 2,060 SF of building area; Each unit includes 2 bedrooms and 1 bathroom; Two units are rented month to month
