Mixed-Use Building with Rental
New
For Sale
$1,850,000
1353 SW 1st St, Miami, FL 33135
Tenant-occupied property combines ground-floor commercial space with residential units.
Property Size5,468 SF
Lot Size0.16 Acres
Price / SF$338.33
Days on Market7
Property Features for 1353 SW 1st St
General Information
Standard status
Active
Size
5,468 SF
Lot size
0.16 Acres
Property subtype
Mixed Use
Zoning
T6-8-O
Additional Details
Multifamily Units
3
Building Details
Building Size
5,468 SF
Year Built
1925
Buildings
1
Tenancy
Multi
Listing Agency:
FI Real Estate Brokerage LLC
(646) 662-8504
Listed By:
Filippo Incorvaia · License #3285863
Source:
Batrare
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 24 at 11:57AM
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 FI Real Estate Brokerage LLC
Investment Insights
Based on property information with market context.
Built in 1925, the property contains a 4,749-square-foot mixed-use building on a 7,000-square-foot lot. Its current configuration includes five rental spaces: two commercial spaces at ground level and three residential spaces. The property is offered in its existing AS-IS condition and is tenant-occupied, with showings available by appointment.
Zoned T6-8-O under Miami’s Urban Core Transect designation, the site permits development up to eight stories and supports approximately 24 units by right. The property is located at 1353 SW 1st St in Miami’s East Little Havana area, with proximity to Brickell and Downtown Miami. Buyers should verify zoning, permitted uses, and square footage with the City of Miami.
Zoned T6-8-O under Miami’s Urban Core Transect designation, the site permits development up to eight stories and supports approximately 24 units by right. The property is located at 1353 SW 1st St in Miami’s East Little Havana area, with proximity to Brickell and Downtown Miami. Buyers should verify zoning, permitted uses, and square footage with the City of Miami.
Key Highlights
- 4,749 SF mixed‑use building on a 7,000 SF lot
- Five rental spaces: two commercial and three residential
- T6‑8‑O zoning under Miami’s Urban Core Transect designation
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
$129,182
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
6.98%
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%
$2,583,640
$2.6M
Cap Rate 7%
$1,845,457
$1.8M
Cap Rate 9%
$1,435,356
$1.4M
Market Conditions
NOI Build-Up for 5,468 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
$229.7K $42.00/SF
− Vacancy
−$23.0K −$4.20/SF
EGI
$206.7K $37.80/SF
− OpEx
−$77.5K −$14.18/SF
NOI
$129.2K $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%
$2,583,640
Cap Rate 7%
$1,845,457
Cap Rate 9%
$1,435,356
Alternative Uses
Best Use
Mixed Use
$1.85M
$1.61M – $2.15M
NOI $129,182 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $101,013 @ 7.0% cap · market cap 5.46%
Theoretical Best
Specialty Retail
$3.69M
$3.23M – $4.31M
NOI $258,365 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,125
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?
Mixed-use property - Tenant-occupied property combines ground-floor commercial space with residential units.
Where is this mixed-use property located?
The property is located at 1353 SW 1st St Miami, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 4,749 SF mixed‑use building on a 7,000 SF lot; Five rental spaces: two commercial and three residential; T6‑8‑O zoning under Miami’s Urban Core Transect designation
