12-Unit Apartment
For Sale
$1,990,000
535 Northwest 7th Street, Miami, FL 33136
Renovated multifamily property with on-site laundry, impact windows and doors, and individual electric metering.
Property Size9,564 SF
Price / SF$208.07
Days on Market2263
Property Features for 535 Northwest 7th Street
General Information
Standard status
Active
Size
9,564 SF
Total Parking Spaces
10
Property subtype
Commercial/Industrial / Income/Multi Family
Occupancy
100%
Financials
Cap Rate
5.6%
Gross Income
$150,000
Units
Unit Mix
6 x 1/1, 6 x 2/1
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$14,260
Amenities
laundry
Building Details
Year Built
1959
Year Renovated
2013
Listing Agency:
BARNES INTERNATIONAL REALTY LLC
Listed By:
Yann Rousseau · License #3281546
(305) 361-2233
Source:
Compass
Added: Jun 26, 2020
Changed: Aug 31
Last Checked: Sep 5 at 1:46PM
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 BARNES INTERNATIONAL REALTY LLC
Investment Insights
Based on property information with market context.
This 9,564-square-foot apartment property in Miami includes 12 units configured as six one-bedroom/one-bath residences and six two-bedroom/one-bath residences. The property also provides a laundry area, 10 parking spaces, impact windows and doors, and separate electric meters for each residence. Originally built in 1959, the building was renovated in 2013.
The property at 535 Northwest 7th Street is fully occupied, with all units rented. It has passed its 40-year certification and reports a 5.6% cap rate.
The property at 535 Northwest 7th Street is fully occupied, with all units rented. It has passed its 40-year certification and reports a 5.6% cap rate.
Key Highlights
- 12 units: 6 one‑bedroom/one‑bath and 6 two‑bedroom/one‑bath apartments
- 9,564 SF apartment property at 535 Northwest 7th Street
- Renovated in 2013; original construction dates to 1959
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
$176,680
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
8.88%
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%
$3,533,600
$3.5M
Cap Rate 7%
$2,524,000
$2.5M
Cap Rate 9%
$1,963,111
$2.0M
Market Conditions
NOI Build-Up for 9,564 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
$344.3K $36.00/SF
− Vacancy
−$23.1K −$2.41/SF
EGI
$321.2K $33.59/SF
− OpEx
−$144.6K −$15.11/SF
NOI
$176.7K $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%
$3,533,600
Cap Rate 7%
$2,524,000
Cap Rate 9%
$1,963,111
Alternative Uses
Best Use
Apartment 5plus
$2.52M
$2.21M – $2.94M
NOI $176,680 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.46M
$5.65M – $7.53M
NOI $451,903 @ 7.0% cap · market cap 22.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,436
Businesses Nearby
Explore this area
Business Placement
Demographics for 33136, FL
15,439
Population
7,994
Households
1.9
Avg Household Size
36
Median Age
25%
College-Educated
73%
High-School Grad
1.4 sq mi
ZIP Area
11,028
Density / Sq Mi
$43,481
Median Household Income
$34,130
Median Earnings
$1,337
Median Rent
$352,700
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?
Apartment building - Renovated multifamily property with on-site laundry, impact windows and doors, and individual electric metering.
Where is this apartment building located?
The property is located at 535 Northwest 7th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: 12 units: 6 one‑bedroom/one‑bath and 6 two‑bedroom/one‑bath apartments; 9,564 SF apartment property at 535 Northwest 7th Street; Renovated in 2013; original construction dates to 1959
