Four-Unit Multifamily
For Sale
$624,900
Pending
210 SW 13th Avenue, Miami, FL 33135
As-is sale of a four-unit multifamily property with occupants in place at closing.
Property Size1,860 SF
Days on Market68
Property Features for 210 SW 13th Avenue
General Information
Standard status
Pending
Size
1,860 SF
Property subtype
Triplex
Additional Details
Multifamily Units
4
Building Details
Year Built
1925
Listing Agency:
Genstone Realty
Listed By:
Veronica Crego-Flores · License #3442761
(305) 974-1801
Source:
Lehmannflorida
Added: Jun 30
Changed: Sep 4
Last Checked: Sep 5 at 6:00AM
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 Genstone Realty
Investment Insights
Based on property information with market context.
This property is currently configured as a four-unit multifamily building, though it is described as a triplex in the existing configuration records provided. The sale is being offered as-is with occupants in place, and the buyer will assume responsibility for the existing occupancy after closing. Buyers are encouraged to conduct their own due diligence regarding the property’s current configuration, zoning, and permitting.
The property is located at 210 SW 13th Avenue in Miami, Florida 33135. The listed property size is 1,860 square feet.
Given the as-is nature of the offering and the need for independent verification of configuration, zoning, and permitting, interested parties should plan their due diligence accordingly before proceeding.
The property is located at 210 SW 13th Avenue in Miami, Florida 33135. The listed property size is 1,860 square feet.
Given the as-is nature of the offering and the need for independent verification of configuration, zoning, and permitting, interested parties should plan their due diligence accordingly before proceeding.
Key Highlights
- 1925‑built triplex currently configured as a four‑unit multifamily property
- As‑is sale with occupants in place at closing; buyer assumes responsibility for existing occupancy after closing
- Buyer encouraged to conduct due diligence on current configuration, zoning, and permitting
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
$37,303
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
5.97%
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%
$746,060
$746.1K
Cap Rate 7%
$532,900
$532.9K
Cap Rate 9%
$414,478
$414.5K
Market Conditions
NOI Build-Up for 1,860 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
$56.9K $30.60/SF
− Vacancy
−$3.6K −$1.95/SF
EGI
$53.3K $28.65/SF
− OpEx
−$16.0K −$8.60/SF
NOI
$37.3K $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%
$746,060
Cap Rate 7%
$532,900
Cap Rate 9%
$414,478
Alternative Uses
Best Use
Multifamily LT 5
$532.9K
$466.3K – $621.7K
NOI $37,303 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$490.9K
$429.5K – $572.7K
NOI $34,361 @ 7.0% cap · market cap 5.50%
Theoretical Best
Specialty Retail
$1.26M
$1.10M – $1.46M
NOI $87,886 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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?
Quadplex - As-is sale of a four-unit multifamily property with occupants in place at closing.
Where is this quadplex located?
The property is located at 210 SW 13th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: 1925‑built triplex currently configured as a four‑unit multifamily property; As‑is sale with occupants in place at closing; buyer assumes responsibility for existing occupancy after closing; Buyer encouraged to conduct due diligence on current configuration, zoning, and permitting
