Triplex with Three-Bedroom
For Sale
$950,000
3035 NW 93rd St, Miami, FL 33147
Residential Income, Miami, FL
Property Size2,641 SF
Lot Size0.32 Acres
Price / SF$359.71
Days on Market76
Property Features for 3035 NW 93rd St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
5100
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 4, Bathroom 1
Parking
1
Subdivision
THE TROPICS AMD
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
30-31-04-003-3690
Size
2,641 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE TROPICS AMD PL PB 10-17 LOTS 8 & 9 BLK 53 LOT SIZE 100.000 X 140 OR 10486-2534 0879 2 COC 22664-4252 08 2004 4
Tax Annual Amount
7642
Legal Description
THE TROPICS AMD PL PB 10-17 LOTS 8 & 9 BLK 53 LOT SIZE 100.000 X 140 OR 10486-2534 0879 2 COC 22664-4252 08 2004 4
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Building Details
Year built
1924
Floors in Building
2
Building materials
Block
Listing Agency:
The Keyes Company
(305) 443-7423
Listed By:
Elizabeth Perez · License #3032533
(305) 984-6344
Added: Jul 18
Changed: Sep 12
Last Checked: Oct 1 at 3:06PM
MLS# A11996676
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex comprises a 3-bedroom, 2-bath single-family residence and a separate two-story structure containing two 1-bedroom, 1-bath units. The property totals 2,641 square feet on a 14,000-square-foot lot, with block construction dating to 1924. It is offered strictly as-is, with no seller repairs, and is designated RU-3B-Bungalow Court District.
The Miami property is located minutes from Miami International Airport, major highways, Walmart, and shopping centers. Cable is available, and the site is served by a septic tank. The three-unit configuration combines a larger detached-style residence with two additional apartments on one parcel.
The Miami property is located minutes from Miami International Airport, major highways, Walmart, and shopping centers. Cable is available, and the site is served by a septic tank. The three-unit configuration combines a larger detached-style residence with two additional apartments on one parcel.
Key Highlights
- Three‑unit configuration with one 3‑bedroom, 2‑bath home and two 1‑bedroom, 1‑bath units
- 2,641 square feet on a 14,000‑square‑foot lot
- Separate two‑story building houses the two 1‑bedroom units
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include a three-bedroom home and two one-bedroom apartments.
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‑unit configuration with one 3‑bedroom, 2‑bath home and two 1‑bedroom, 1‑bath units; 2,641 square feet on a 14,000‑square‑foot lot; Separate two‑story building houses the two 1‑bedroom units
