Triplex With Mixed Unit
For Sale
$950,000
3035 Nw 93rd St, Miami, FL 33147
Separate residential structures provide a three-bedroom home and two additional one-bedroom apartments on a sizable Miami parcel.
Property Size2,641 SF
Lot Size0.32 Acres
Price / SF$359.71
Days on Market142
Property Features for 3035 Nw 93rd St
General Information
Standard status
Active
Size
2,641 SF
Lot size
0.32 Acres
Property subtype
Residential Income
Zoning
RU-3B-Bungalow Court District
Units
Unit Mix
1 x 3BR/2BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,642
Building Details
Buildings
2
Construction
CBS
Listing Agency:
The Keyes Company
(305) 443-7423
Listed By:
Elizabeth Perez · License #3032533
(305) 984-6344
Source:
Exprealty
Added: Apr 23
Changed: Sep 10
Last Checked: Sep 10 at 3:17PM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This triplex combines a three-bedroom, two-bath single-family residence with a separate two-story structure containing two one-bedroom, one-bath apartments. The property includes 2,641 of property size and occupies a 14, 000 SF lot. CBS construction is identified for the improvements, and the property is designated RU-3B-Bungalow Court District.
The address is 3035 Nw 93rd St in Miami, with Miami International Airport, major highways, Walmart, and shopping centers located minutes away. The property is being offered strictly as-is, with no repairs by the seller.
The address is 3035 Nw 93rd St in Miami, with Miami International Airport, major highways, Walmart, and shopping centers located minutes away. The property is being offered strictly as-is, with no repairs by the seller.
Key Highlights
- Three‑bedroom, two‑bath single‑family home included
- Two additional 1‑bedroom/1‑bath units in a two‑story building
- 14, 000 SF lot
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
$52,967
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
5.58%
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%
$1,059,340
$1.1M
Cap Rate 7%
$756,671
$756.7K
Cap Rate 9%
$588,522
$588.5K
Market Conditions
NOI Build-Up for 2,641 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
$80.8K $30.60/SF
− Vacancy
−$5.1K −$1.95/SF
EGI
$75.7K $28.65/SF
− OpEx
−$22.7K −$8.60/SF
NOI
$53.0K $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%
$1,059,340
Cap Rate 7%
$756,671
Cap Rate 9%
$588,522
Alternative Uses
Best Use
Multifamily LT 5
$756.7K
$662.1K – $882.8K
NOI $52,967 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$697.0K
$609.9K – $813.1K
NOI $48,788 @ 7.0% cap · market cap 5.14%
Theoretical Best
Specialty Retail
$1.78M
$1.56M – $2.08M
NOI $124,788 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
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?
Triplex - Separate residential structures provide a three-bedroom home and two additional one-bedroom apartments on a sizable Miami parcel.
Where is this triplex located?
The property is located at 3035 Nw 93rd St Miami, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bath single‑family home included; Two additional 1‑bedroom/1‑bath units in a two‑story building; 14, 000 SF lot
