For Sale
$1,350,000
3240 NW 3rd Ave, Miami, FL 33127
Residential land & home lots
Property Size1,890 SF
Price / SF$714.29
Days on Market281
Property Features for 3240 NW 3rd Ave
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Duplex
Site & Location
Neighborhood
Old San Juan
Taxes and HOA fees
Annual Taxes
$8,226
Building Details
Building Size
1,890 SF
Year Built
1968
Listing Agency:
Compass Florida, LLC
Listed By:
Louis Wintters · License #3482685
(305) 300-6813
Source:
Jofregroup
Added: Jan 23
Changed: Oct 27
Last Checked: Oct 31 at 4:30PM
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 Compass Florida, LLC
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,905
Cap Rate
2.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$758,100
$758.1K
Cap Rate 7%
$541,500
$541.5K
Cap Rate 9%
$421,167
$421.2K
Market Conditions
NOI Build-Up for 1,890 SF
Gross rent
$57.8K $30.60/SF
− Vacancy
−$3.7K −$1.95/SF
EGI
$54.1K $28.65/SF
− OpEx
−$16.2K −$8.60/SF
NOI
$37.9K $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 Rate 5%
$758,100
Cap Rate 7%
$541,500
Cap Rate 9%
$421,167
Alternative Uses
Best Use
Multifamily LT 5
$541.5K
$473.8K – $631.8K
NOI $37,905 @ 7.0% cap · market cap 2.81%
Second Best
Apartment 5plus
$498.8K
$436.4K – $581.9K
NOI $34,915 @ 7.0% cap · market cap 2.59%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,303 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
6,683
Businesses Nearby
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Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
Where is this residential land & home lot located?
The property is located at 3240 NW 3rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,350,000.
