Multifamily
New
For Sale
$895,000
984 SW 6th Street, Miami, FL 33130
Miami property with existing improvements constructed in 1947.
Property Size2,047 SF
Price / SF$444.83
Days on Market4
Property Features for 984 SW 6th Street
General Information
Standard status
Active
Size
2,047 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
3900
Taxes and HOA fees
Annual Taxes
$11,889
Building Details
Building Size
2,047 SF
Year Built
1947
Stories
2
Listing Agency:
Real Estate Sales Force
Listed By:
Ismaris M Texidor · License #A12067603
(786) 647-0688
Source:
Laerrealty
Added: Sep 2
Changed: Sep 5
Last Checked: Sep 5 at 4:01AM
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 Real Estate Sales Force
Investment Insights
Based on property information with market context.
This multifamily property is located at 984 SW 6th Street in Miami, Florida. The existing improvements were constructed in 1947 and have a reported property size of 2,012.
The asset is positioned within the 33130 ZIP code, providing an established Miami address for a residential income property. Its classification supports evaluation as a multifamily asset, subject to independent review of the property, municipal requirements, and applicable records.
The asset is positioned within the 33130 ZIP code, providing an established Miami address for a residential income property. Its classification supports evaluation as a multifamily asset, subject to independent review of the property, municipal requirements, and applicable records.
Key Highlights
- Reported property size of 2,012
- Existing improvements constructed in 1947
- Located at 984 SW 6th Street, Miami, FL 33130
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
$37,168
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
4.15%
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%
$743,360
$743.4K
Cap Rate 7%
$530,971
$531.0K
Cap Rate 9%
$412,978
$413.0K
Market Conditions
NOI Build-Up for 2,012 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
$72.4K $36.00/SF
− Vacancy
−$4.9K −$2.41/SF
EGI
$67.6K $33.59/SF
− OpEx
−$30.4K −$15.11/SF
NOI
$37.2K $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%
$743,360
Cap Rate 7%
$530,971
Cap Rate 9%
$412,978
Alternative Uses
Best Use
Apartment 5plus
$531.0K
$464.6K – $619.5K
NOI $37,168 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,068 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,366
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Miami property with existing improvements constructed in 1947.
Where is this multifamily property located?
The property is located at 984 SW 6th Street Miami, FL.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Reported property size of 2,012; Existing improvements constructed in 1947; Located at 984 SW 6th Street, Miami, FL 33130
