37-Unit Mixed-Use
For Sale
$6,250,000
1274 W Flagler St, Miami, FL 33135
Fully occupied property combining apartment residences with ground-floor retail suites at a signalized Miami intersection.
Property Size17,890 SF
Price / SF$349.36
Days on Market417
Property Features for 1274 W Flagler St
General Information
Standard status
Active
Size
17,890 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Corner Location
Yes
Road Access
Yes
Units
Unit Mix
27 x studio, 3 x 1BR
Multifamily Units
30
Taxes and HOA fees
Annual Taxes
$85,214
Amenities
3
Building Details
Year Built
1925
Buildings
1
Tenancy
Multi
Listing Agency:
Compass Florida, LLC.
(305) 281-4469
Listed By:
Alessandro Lima · License #3404498
(305) 281-4469
Source:
Xome
Added: Jul 11, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:33AM
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 Compass Florida, LLC.
Investment Insights
Based on property information with market context.
This 17,890-square-foot mixed-use property, built in 1925, includes a 30-unit apartment building and seven ground-floor retail units. The residential component comprises 27 studios and three one-bedroom apartments, while the retail portion adds a separate commercial income component. Occupancy is reported at 100%, and a 40/50-year recertification is in place.
The property occupies the signalized corner of W Flagler Street and 12th Avenue in Miami, providing visibility and access at a prominent commercial intersection. It is minutes from Brickell and blocks from Calle Ocho, placing the asset near both Miami's financial district and a major cultural corridor.
The property occupies the signalized corner of W Flagler Street and 12th Avenue in Miami, providing visibility and access at a prominent commercial intersection. It is minutes from Brickell and blocks from Calle Ocho, placing the asset near both Miami's financial district and a major cultural corridor.
Key Highlights
- 37‑unit mixed‑use property with 30 apartments and 7 ground‑floor retail units
- 100% occupied with a 40/50‑year recertification in place
- Residential mix includes 27 studios and 3 one‑bedroom 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
$422,651
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
6.76%
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%
$8,453,020
$8.5M
Cap Rate 7%
$6,037,871
$6.0M
Cap Rate 9%
$4,696,122
$4.7M
Market Conditions
NOI Build-Up for 17,890 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
$751.4K $42.00/SF
− Vacancy
−$75.1K −$4.20/SF
EGI
$676.2K $37.80/SF
− OpEx
−$253.6K −$14.18/SF
NOI
$422.7K $23.63/SF
Area
Miami, FL
Vacancy
10.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
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%
$8,453,020
Cap Rate 7%
$6,037,871
Cap Rate 9%
$4,696,122
Alternative Uses
Best Use
Retail
$8.34M
$7.30M – $9.73M
NOI $583,673 @ 7.0% cap · market cap 9.34%
Second Best
Mixed Use
$6.04M
$5.28M – $7.04M
NOI $422,651 @ 7.0% cap · market cap 6.76%
Theoretical Best
Specialty Retail
$12.08M
$10.57M – $14.09M
NOI $845,311 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,192
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property combining apartment residences with ground-floor retail suites at a signalized Miami intersection.
Where is this mixed-use property located?
The property is located at 1274 W Flagler St Miami, FL.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: 37‑unit mixed‑use property with 30 apartments and 7 ground‑floor retail units; 100% occupied with a 40/50‑year recertification in place; Residential mix includes 27 studios and 3 one‑bedroom units
