Renovated Three-Unit
For Sale
$1,180,000
3321 Nw 19th St, Miami, FL 33125
Updated three-unit property with varied bedroom layouts, modern finishes, and in-unit laundry access.
Property Size2,244 SF
Price / SF$525.85
Days on Market125
Property Features for 3321 Nw 19th St
General Information
Standard status
Active
Size
2,244 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA, 1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,368
Building Details
Buildings
1
Listing Agency:
Pine River Realty, LLC.
Listed By:
Dominic Rivera · License #3268755
(786) 556-3434
Source:
Exprealty
Added: May 14
Changed: Sep 11
Last Checked: Sep 14 at 6:49AM
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 Pine River Realty, LLC.
Investment Insights
Based on property information with market context.
This 2,244-square-foot triplex contains three separate residences with a varied configuration: a two-bedroom, one-bath unit; a three-bedroom, two-bath unit; and a one-bedroom, one-bath unit. Improvements include contemporary kitchens, European-style cabinetry, upgraded bathrooms, new flooring, impact windows and doors, a newer roof, quality appliances, and washer and dryer access within the units.
The property is located at 3321 NW 19th St in Miami, Florida, near the future Miami Freedom Park and Inter Miami stadium. Its three-unit layout and updated interior and exterior components provide a clearly defined multifamily configuration.
The property is located at 3321 NW 19th St in Miami, Florida, near the future Miami Freedom Park and Inter Miami stadium. Its three-unit layout and updated interior and exterior components provide a clearly defined multifamily configuration.
Key Highlights
- 2,244‑square‑foot triplex with three separate units
- Unit mix includes 2 bedrooms/1 bathroom, 3 bedrooms/2 bathrooms, and 1 bedroom/1 bathroom
- Impact windows and doors, newer roof, and updated flooring
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
$45,005
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
3.81%
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%
$900,100
$900.1K
Cap Rate 7%
$642,929
$642.9K
Cap Rate 9%
$500,056
$500.1K
Market Conditions
NOI Build-Up for 2,244 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
$68.7K $30.60/SF
− Vacancy
−$4.4K −$1.95/SF
EGI
$64.3K $28.65/SF
− OpEx
−$19.3K −$8.60/SF
NOI
$45.0K $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%
$900,100
Cap Rate 7%
$642,929
Cap Rate 9%
$500,056
Alternative Uses
Best Use
Multifamily LT 5
$642.9K
$562.6K – $750.1K
NOI $45,005 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$592.2K
$518.2K – $690.9K
NOI $41,454 @ 7.0% cap · market cap 3.51%
Theoretical Best
Specialty Retail
$1.51M
$1.33M – $1.77M
NOI $106,030 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,365
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
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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 - Updated three-unit property with varied bedroom layouts, modern finishes, and in-unit laundry access.
Where is this triplex located?
The property is located at 3321 Nw 19th St Miami, FL.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: 2,244‑square‑foot triplex with three separate units; Unit mix includes 2 bedrooms/1 bathroom, 3 bedrooms/2 bathrooms, and 1 bedroom/1 bathroom; Impact windows and doors, newer roof, and updated flooring
