Miami Residential Income
3200 SW 88th Pl, Miami, FL 33165
For Sale
$1,030,000
Residential income property with an established 1970 construction date and Miami address.
Property Size2,193 SF
Days on Market61
Property Features for 3200 SW 88th Pl
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
My Realty Group, LLC.
Listed By:
Hugo Lopez Diaz · License FL #3309360
(786) 999-3558
Source:
Marcelosteinmander
Added: Sep 11
Changed: Nov 9
Last Checked: Nov 10 at 3:47PM
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 My Realty Group, LLC.
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Investment Insights
Based on property information with market context.
This residential income property was constructed in 1970 and has a reported property size of 2,193. The asset is identified under zoning designation 5700.
The property is located at 3200 SW 88th Place in Miami, Florida, with ZIP code 33165. Its classification is residential income property, supporting consideration within the multifamily and income-producing residential categories.
The property is located at 3200 SW 88th Place in Miami, Florida, with ZIP code 33165. Its classification is residential income property, supporting consideration within the multifamily and income-producing residential categories.
Key Highlights
- 2,193 reported property size
- Built in 1970
- Zoning designation 5700
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,512
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,240
$810.2K
Cap Rate 7%
$578,743
$578.7K
Cap Rate 9%
$450,133
$450.1K
Market Conditions
NOI Build-Up for 2,193 SF
Gross rent
$78.9K $36.00/SF
− Vacancy
−$5.3K −$2.41/SF
EGI
$73.7K $33.59/SF
− OpEx
−$33.1K −$15.11/SF
NOI
$40.5K $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 Rate 5%
$810,240
Cap Rate 7%
$578,743
Cap Rate 9%
$450,133
Alternative Uses
Best Use
Apartment 5plus
$578.7K
$506.4K – $675.2K
NOI $40,512 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.48M
$1.30M – $1.73M
NOI $103,620 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,711
Businesses Nearby
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Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Miami, FL
Properties on Market for Residential income properties in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Residential income property - Residential income property with an established 1970 construction date and Miami address.
Where is this residential income property located?
The property is located at 3200 SW 88th Pl Miami, FL.
What is the asking price?
The asking price for this property is $1,030,000.
What are key features of this property?
This property features: 2,193 reported property size; Built in 1970; Zoning designation 5700
