Fourplex with Garage
For Sale
$1,795,000
1736 SW 9th Street, Miami, FL 33135
Well-maintained Old Spanish-style fourplex with four electric and water meters and a rentable garage for added income.
Property Size3,849 SF
Price / SF$466.35
Days on Market119
Property Features for 1736 SW 9th Street
General Information
Standard status
Active
Size
3,849 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Business Included
Yes
Multifamily Units
4
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
One Sotheby's International Realty
Listed By:
Nicole Exposito · License #3340939
(305) 773-9974
Source:
Onesothebysrealty
Added: May 10
Changed: Sep 3
Last Checked: Sep 5 at 9:04AM
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 One Sotheby's International Realty
Investment Insights
Based on property information with market context.
This fourplex features Old Spanish-style architecture and is described as well-maintained and income-producing. The property is free of violations and includes four separate electric and water meters. A 40-year certification is noted, and the units are described as renovated. The layout consists of two 3/1 units, one 2/1 unit, and one 1/1 unit, along with a rentable garage that provides additional income.
The property is located in the Shenandoah/Little Havana corridor of Miami and is described as being just steps from Calle Ocho, supporting walkable access to restaurants, cafés, and cultural landmarks. WalkScore and BikeScore are listed as 93 and 62, respectively, with a transitScore of 54.
The configuration is set up for separate metering across the four units and includes on-site garage income, supporting a turnkey multifamily setup as presented in the offering materials.
The property is located in the Shenandoah/Little Havana corridor of Miami and is described as being just steps from Calle Ocho, supporting walkable access to restaurants, cafés, and cultural landmarks. WalkScore and BikeScore are listed as 93 and 62, respectively, with a transitScore of 54.
The configuration is set up for separate metering across the four units and includes on-site garage income, supporting a turnkey multifamily setup as presented in the offering materials.
Key Highlights
- Built in 1925, Old Spanish–style fourplex in the Shenandoah/Little Havana corridor
- Income‑producing property with total monthly rent of approx. $10,500 ($126,000 annually)
- Unit mix: two 3/1 units, one 2/1 unit, and one 1/1 unit
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
$77,194
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
4.30%
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%
$1,543,880
$1.5M
Cap Rate 7%
$1,102,771
$1.1M
Cap Rate 9%
$857,711
$857.7K
Market Conditions
NOI Build-Up for 3,849 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
$117.8K $30.60/SF
− Vacancy
−$7.5K −$1.95/SF
EGI
$110.3K $28.65/SF
− OpEx
−$33.1K −$8.60/SF
NOI
$77.2K $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%
$1,543,880
Cap Rate 7%
$1,102,771
Cap Rate 9%
$857,711
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$964.9K – $1.29M
NOI $77,194 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$1.02M
$888.8K – $1.19M
NOI $71,104 @ 7.0% cap · market cap 3.96%
Theoretical Best
Specialty Retail
$2.60M
$2.27M – $3.03M
NOI $181,867 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,450
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained Old Spanish-style fourplex with four electric and water meters and a rentable garage for added income.
Where is this quadplex located?
The property is located at 1736 SW 9th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Built in 1925, Old Spanish–style fourplex in the Shenandoah/Little Havana corridor; Income‑producing property with total monthly rent of approx. $10,500 ($126,000 annually); Unit mix: two 3/1 units, one 2/1 unit, and one 1/1 unit
