Miami Multifamily Investment
For Sale
$1,375,000
Pending
1792 SW 11th St, Miami, FL 33135
Two buildings on a large corner lot with redevelopment potential.
Property Size5,294 SF
Lot Size0.29 Acres
Days on Market104
Property Features for 1792 SW 11th St
General Information
Standard status
Pending
Size
5,294 SF
Lot size
0.29 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$23,257
Building Details
Building Size
5,294 SF
Year Built
1925
Stories
2
Units
4
Listing Agency:
(786) 515-8229
Listed By:
Oscar Gastaudo · License #3326620
(786) 515-8229
Source:
Elliman
Added: May 21
Changed: Aug 31
Last Checked: Aug 31 at 7:12PM
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 Oscar Gastaudo
Investment Insights
Based on property information with market context.
This investment opportunity features two freestanding buildings situated on a 12,666 sq. ft. corner lot. Located in Miami, the property is zoned T3-R with a Multi-Family (2–9 Units) land use designation. The property offers flexibility for investors, owner-occupants, or those seeking a value-add opportunity. The property spans approximately 5,764 total square feet and consists of multiple income-producing units across two separate structures. The first building features a 3-bedroom, 2-bath unit on the first floor and a 2-bedroom, 1-bath unit on the second floor. The second building includes a 2-bedroom, 1-bath unit on the first floor, a 2-bedroom, 1-bath unit on the second floor, and an attached 1-bedroom, 1-bath efficiency. The second building would benefit from updates, presenting potential for increased income and value. The oversized corner lot provides outdoor space, parking flexibility, and future redevelopment potential. The location has a walk score of 90, indicating it is a walker's paradise. The bike score is 59, indicating it is bikeable, and the transit score is 47, indicating some transit options are available.
Key Highlights
- Massive 12,666 sq. ft. corner lot in the heart of Miami.
- Zoned T3‑R with Multi‑Family (2–9 Units) land use designation.
- Two freestanding buildings totaling approximately 5,764 sq. ft. with multiple income‑producing units.
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
$106,481
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
7.74%
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%
$2,129,620
$2.1M
Cap Rate 7%
$1,521,157
$1.5M
Cap Rate 9%
$1,183,122
$1.2M
Market Conditions
NOI Build-Up for 5,764 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
$207.5K $36.00/SF
− Vacancy
−$13.9K −$2.41/SF
EGI
$193.6K $33.59/SF
− OpEx
−$87.1K −$15.11/SF
NOI
$106.5K $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%
$2,129,620
Cap Rate 7%
$1,521,157
Cap Rate 9%
$1,183,122
Alternative Uses
Best Use
Apartment 5plus
$1.52M
$1.33M – $1.77M
NOI $106,481 @ 7.0% cap · market cap 7.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.89M
$3.40M – $4.54M
NOI $272,352 @ 7.0% cap · market cap 19.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,213
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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?
Multifamily property - Two buildings on a large corner lot with redevelopment potential.
Where is this multifamily property located?
The property is located at 1792 SW 11th St Miami, FL.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Massive 12,666 sq. ft. corner lot in the heart of Miami.; Zoned T3‑R with Multi‑Family (2–9 Units) land use designation.; Two freestanding buildings totaling approximately 5,764 sq. ft. with multiple income‑producing units.
