Multifamily Property with Multiple Living
New
For Sale
$1,349,000
2484 SW 10th Street, Miami, FL 33135
Multiple living spaces provide a flexible multifamily configuration near major roads and public transportation.
Property Size3,324 SF
Lot Size0.15 Acres
Price / SF$452.68
Days on Market2
Property Features for 2484 SW 10th Street
General Information
Standard status
Active
Size
3,324 SF
Total Parking Spaces
4
Lot size
0.15 Acres
Property subtype
Residential Income
Zoning
3900
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$15,372
Building Details
Building Size
3,324 SF
Year Built
1948
Stories
2
Listing Agency:
Property Pro Partners, LLC.
Listed By:
Camila Pelaez Mejia
(575) 921-1023
Source:
Laerrealty
Added: Sep 22
Last Checked: Sep 22 at 1:42PM
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 Property Pro Partners, LLC.
Investment Insights
Based on property information with market context.
This multifamily property offers approximately 2,980 SF of living area on a 6,720 SF lot. Multiple living spaces create a versatile interior configuration, while the building’s 1948 construction date provides important context for evaluating the asset. Zoning is identified as 3900.
The property is located at 2484 SW 10th Street in Miami, near major roads, Downtown Miami, Brickell, Coral Gables, shopping, dining, and public transportation. Its Miami location and multifamily layout establish the primary physical and access characteristics of the offering.
The property is located at 2484 SW 10th Street in Miami, near major roads, Downtown Miami, Brickell, Coral Gables, shopping, dining, and public transportation. Its Miami location and multifamily layout establish the primary physical and access characteristics of the offering.
Key Highlights
- Approximately 2,980 SF of living area
- 6,720 SF lot
- Multiple living spaces with a versatile layout
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
$55,051
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
4.08%
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%
$1,101,020
$1.1M
Cap Rate 7%
$786,443
$786.4K
Cap Rate 9%
$611,678
$611.7K
Market Conditions
NOI Build-Up for 2,980 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
$107.3K $36.00/SF
− Vacancy
−$7.2K −$2.41/SF
EGI
$100.1K $33.59/SF
− OpEx
−$45.0K −$15.11/SF
NOI
$55.1K $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%
$1,101,020
Cap Rate 7%
$786,443
Cap Rate 9%
$611,678
Alternative Uses
Best Use
Apartment 5plus
$786.4K
$688.1K – $917.5K
NOI $55,051 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.01M
$1.76M – $2.35M
NOI $140,806 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,251
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
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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?
Multifamily property - Multiple living spaces provide a flexible multifamily configuration near major roads and public transportation.
Where is this multifamily property located?
The property is located at 2484 SW 10th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Approximately 2,980 SF of living area; 6,720 SF lot; Multiple living spaces with a versatile layout
