Renovated Four-Unit
New
For Sale
$1,749,000
403 SW 12th Ave, Miami, FL 33130
T5-O-zoned multifamily property supports live-work use and Airbnb by right, with updated building systems and individual electric meters.
Property Size3,528 SF
Days on Market4
Property Features for 403 SW 12th Ave
General Information
Standard status
Active
Size
3,528 SF
Total Parking Spaces
4
Property subtype
Investment
Zoning
T5-O
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,524
Amenities
privacy fence
professionally landscaped yard
Building Details
Building Size
3,528 SF
Year Built
1925
Buildings
1
Stories
1
Units
4
Listing Agency:
(786) 554-3626
Listed By:
Claudia Del Toro
(786) 554-3626
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 18 at 7:50AM
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 Claudia Del Toro
Investment Insights
Based on property information with market context.
This four-unit multifamily property offers 8 beds, 4 dens, and 4 baths within a fully renovated 1925 building. Improvements include new electrical service with 600 Amps, electric panels, plumbing, central ACs, impact windows and doors, drywall, insulation, kitchens with quartz counters, bathrooms, and interior paint. Each unit has an individual electric meter, while the property uses one main water meter. Architectural plans and a new Certificate of Occupancy are in place.
The property is located at 403 SW 12th Ave in Miami’s Little Havana, near Downtown Miami and the Brickell Financial District. T5-O zoning supports multifamily and live-work use, with Airbnb permitted by right. Exterior features include 4 gated parking spaces, a privacy fence, and a professionally landscaped yard. Walk Score is 94, Bike Score is 57, and Transit Score is 50.
The property is located at 403 SW 12th Ave in Miami’s Little Havana, near Downtown Miami and the Brickell Financial District. T5-O zoning supports multifamily and live-work use, with Airbnb permitted by right. Exterior features include 4 gated parking spaces, a privacy fence, and a professionally landscaped yard. Walk Score is 94, Bike Score is 57, and Transit Score is 50.
Key Highlights
- Four‑unit multifamily property with 8 beds, 4 dens, and 4 baths
- T5‑O zoning with live‑work use and Airbnb by right
- New electrical service with 600 Amps and individual electric meters
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
$101,210
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
5.79%
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%
$2,024,200
$2.0M
Cap Rate 7%
$1,445,857
$1.4M
Cap Rate 9%
$1,124,556
$1.1M
Market Conditions
NOI Build-Up for 3,528 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
$158.8K $45.00/SF
− Vacancy
−$23.8K −$6.75/SF
EGI
$134.9K $38.25/SF
− OpEx
−$33.7K −$9.56/SF
NOI
$101.2K $28.69/SF
Area
Miami, FL
Vacancy
15.00%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,024,200
Cap Rate 7%
$1,445,857
Cap Rate 9%
$1,124,556
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,210 @ 7.0% cap · market cap 5.79%
Second Best
Mixed Use
$1.19M
$1.04M – $1.39M
NOI $83,349 @ 7.0% cap · market cap 4.77%
Theoretical Best
Specialty Retail
$2.38M
$2.08M – $2.78M
NOI $166,700 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,773
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
Median Home Value
Market
Vacancy Rate% for Office in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - T5-O-zoned multifamily property supports live-work use and Airbnb by right, with updated building systems and individual electric meters.
Where is this quadplex located?
The property is located at 403 SW 12th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 8 beds, 4 dens, and 4 baths; T5‑O zoning with live‑work use and Airbnb by right; New electrical service with 600 Amps and individual electric meters
