Duplex with Large
For Sale
$395,000
6936 NW 3rd Avenue, Miami, FL 33150
As-is duplex requiring complete renovation, with on-site parking and potential for future improvements subject to approvals.
Property Size1,225 SF
Price / SF$322.45
Days on Market8
Property Features for 6936 NW 3rd Avenue
General Information
Standard status
Active
Size
1,225 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
5700
Taxes and HOA fees
Annual Taxes
$2,545
Building Details
Building Size
1,225 SF
Year Built
1959
Stories
1
Listing Agency:
Charles Rutenberg Realty FTL
Listed By:
Christopher Ladas · License #3462353
(847) 707-9574
Source:
Laerrealty
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 22 at 1:41PM
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 Charles Rutenberg Realty FTL
Investment Insights
Based on property information with market context.
This 1,225-square-foot duplex was built in 1959 and is offered in as-is condition with a complete renovation required. The property sits on a 6,250-square-foot lot and includes on-site parking. Reconfiguration or expansion may be possible, subject to zoning, permitting, and other applicable approvals.
The property is located near Little Haiti, Little River, Miami’s Design District, and downtown Miami, with access to I-95 and major transportation corridors. The sale is offered on a cash-only basis.
The property is located near Little Haiti, Little River, Miami’s Design District, and downtown Miami, with access to I-95 and major transportation corridors. The sale is offered on a cash-only basis.
Key Highlights
- Existing duplex on a 6,250 SF lot
- 1,225 SF property built in 1959
- Complete renovation required; offered as‑is
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
$24,568
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
6.22%
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%
$491,360
$491.4K
Cap Rate 7%
$350,971
$351.0K
Cap Rate 9%
$272,978
$273.0K
Market Conditions
NOI Build-Up for 1,225 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
$37.5K $30.60/SF
− Vacancy
−$2.4K −$1.95/SF
EGI
$35.1K $28.65/SF
− OpEx
−$10.5K −$8.60/SF
NOI
$24.6K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
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%
$491,360
Cap Rate 7%
$350,971
Cap Rate 9%
$272,978
Alternative Uses
Best Use
Multifamily LT 5
$351.0K
$307.1K – $409.5K
NOI $24,568 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$323.3K
$282.9K – $377.2K
NOI $22,630 @ 7.0% cap · market cap 5.73%
Theoretical Best
Specialty Retail
$826.9K
$723.5K – $964.7K
NOI $57,882 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,668
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - As-is duplex requiring complete renovation, with on-site parking and potential for future improvements subject to approvals.
Where is this duplex located?
The property is located at 6936 NW 3rd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Existing duplex on a 6,250 SF lot; 1,225 SF property built in 1959; Complete renovation required; offered as‑is
