Multifamily Building with On-Site
For Sale
$2,600,000
840 NW 4th Street, Miami, FL 33128
For-sale multifamily property with 9 units, including 2-bedroom and townhouse-style 3-bedroom layouts, plus on-site parking.
Property Size8,312 SF
Lot Size0.34 Acres
Days on Market43
Property Features for 840 NW 4th Street
General Information
Standard status
Active
Size
8,312 SF
Lot size
0.34 Acres
Zoning
3900
Additional Details
Multifamily Units
9
Amenities
on-site parking
Building Details
Building Size
8,312 SF
Year Built
1948
Buildings
2
Construction
CBS
Listing Agency:
Fausto Commercial Realty Consultants Inc
(305) 753-3295
Listed By:
Christopher Carbonell · License #3533720
(305) 753-3295
Source:
Laerrealty
Added: Jul 20
Changed: Aug 26
Last Checked: Aug 31 at 12:49PM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
840 NW 4th St is a well-kept multifamily property containing 9 total units. The unit mix includes six 2-bedroom/1-bath units and three townhouse-style 3-bedroom/2-bath units, providing a blend of apartment and townhouse-style living within one building.
The building is constructed with CBS and has had several recent improvements, including recently replaced modern windows, a recently replaced roof, and PVC plumbing. The property also includes on-site parking for all units.
This offering presents a straightforward existing income property configuration built around its established 9-unit footprint and recent capital improvements.
The building is constructed with CBS and has had several recent improvements, including recently replaced modern windows, a recently replaced roof, and PVC plumbing. The property also includes on-site parking for all units.
This offering presents a straightforward existing income property configuration built around its established 9-unit footprint and recent capital improvements.
Key Highlights
- Multifamily property built in 1948 with 9 total units
- Unit mix includes six 2‑bedroom/1‑bath units plus three townhouse‑style 3‑bedroom/2‑bath units
- CBS construction with recently replaced modern windows
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
$153,551
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
5.91%
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%
$3,071,020
$3.1M
Cap Rate 7%
$2,193,586
$2.2M
Cap Rate 9%
$1,706,122
$1.7M
Market Conditions
NOI Build-Up for 8,312 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
$299.2K $36.00/SF
− Vacancy
−$20.0K −$2.41/SF
EGI
$279.2K $33.59/SF
− OpEx
−$125.6K −$15.11/SF
NOI
$153.6K $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%
$3,071,020
Cap Rate 7%
$2,193,586
Cap Rate 9%
$1,706,122
Alternative Uses
Best Use
Apartment 5plus
$2.19M
$1.92M – $2.56M
NOI $153,551 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.61M
$4.91M – $6.55M
NOI $392,746 @ 7.0% cap · market cap 15.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
3,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 33128, FL
8,213
Population
4,533
Households
1.8
Avg Household Size
41
Median Age
22%
College-Educated
66%
High-School Grad
0.4 sq mi
ZIP Area
20,533
Density / Sq Mi
$36,308
Median Household Income
$32,082
Median Earnings
$1,316
Median Rent
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 - For-sale multifamily property with 9 units, including 2-bedroom and townhouse-style 3-bedroom layouts, plus on-site parking.
Where is this apartment building located?
The property is located at 840 NW 4th Street Miami, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Multifamily property built in 1948 with 9 total units; Unit mix includes six 2‑bedroom/1‑bath units plus three townhouse‑style 3‑bedroom/2‑bath units; CBS construction with recently replaced modern windows
