Triplex with Two-Story
For Sale
$950,000
3035 NW 93rd St, Miami, FL 33147
MULTI_FAMILY - Miami, FL
Property Size2,641 SF
Lot Size0.32 Acres
Price / SF$359.71
Days on Market31
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 4, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 3, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 5
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 16
Changed: Aug 1
Last Checked: Aug 15 at 9:06PM
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 includes a 3-bedroom/2-bath single-family home and a two-story building with two additional 1-bedroom/1-bath units. The property sits on a 14,000 SF lot and is described as having CBS construction, with construction materials listed as block. Built in 1924, the home is offered as-is, with the seller making no repairs.
The property is located in Miami-Dade County, zoned RU-3B-Bungalow Court District. Utilities noted include cable available, and sewer is listed as a septic tank. The offering states the location is convenient to Miami International Airport, major highways, Walmart, and premier shopping centers.
All offers must include proof of funds or a pre-approval letter, and there are no showings without an offer.
The property is located in Miami-Dade County, zoned RU-3B-Bungalow Court District. Utilities noted include cable available, and sewer is listed as a septic tank. The offering states the location is convenient to Miami International Airport, major highways, Walmart, and premier shopping centers.
All offers must include proof of funds or a pre-approval letter, and there are no showings without an offer.
Key Highlights
- 14,000 SF lot with a triplex configuration: 3/2 home plus two 1/1 units
- Two‑story building includes two additional 1‑bedroom/1‑bath units
- Zoned RU‑3B‑Bungalow Court District
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
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 - Triplex property with a 3-bedroom home plus two additional 1-bedroom units on a RU-3B lot.
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: 14,000 SF lot with a triplex configuration: 3/2 home plus two 1/1 units; Two‑story building includes two additional 1‑bedroom/1‑bath units; Zoned RU‑3B‑Bungalow Court District
