High-Rise Residential Income
For Sale
$390,000
350 S MIAMI, Miami, FL 33130
Residential, Miami, FL
Property Size740 SF
Price / SF$527.03
Days on Market171
Property Features for 350 S MIAMI
General Information
Property type
Land
Property subtype
Other
Parking features
Guest, Garage, Assigned, Valet
Pets allowed
Yes
Interior features
Bedroom on Main Level, Bathtub, Closet Cabinetry, First Floor Entry, Walk-In Closet(s)
Exterior features
Balcony
Appliances
Dishwasher, Microwave, Refrigerator
Subdivision
WIND CONDO
Standard status
Active
APN
01-41-37-061-2730
Size
740 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
WIND CONDO
Tax Annual Amount
4841
HOA Fee
$850 Monthly
Legal Description
WIND CONDO
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2008
Flooring type
Tile - Ceramic
Building materials
Block
Architectural style
High Rise
Listing Agency:
Keller Williams Realty International Lifestyles
(786) 615-6761
Listed By:
Jeniffer Aguilar · License #3326867
(786) 567-1046
Added: Mar 18
Changed: Sep 3
Last Checked: Sep 4 at 12:06AM
MLS# A11982350
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 740-square-foot high-rise residence was built in 2008 and features a one-bedroom, one-bath layout with first-floor entry, a walk-in closet, closet cabinetry, and a bathtub. Interior finishes include ceramic tile flooring, while central heating and central air provide climate control. The unit also includes a dishwasher, microwave, and refrigerator, along with a balcony.
Parking options include assigned, garage, guest, and valet parking. The property is located on S Miami in Miami’s Brickell area, near Brickell City Centre, Mary Brickell Village, restaurants, shopping, and nightlife. Access to the Miami Metromover, major highways, and the financial district is also identified, with Bayfront Park providing nearby outdoor space and waterfront views.
Parking options include assigned, garage, guest, and valet parking. The property is located on S Miami in Miami’s Brickell area, near Brickell City Centre, Mary Brickell Village, restaurants, shopping, and nightlife. Access to the Miami Metromover, major highways, and the financial district is also identified, with Bayfront Park providing nearby outdoor space and waterfront views.
Key Highlights
- 740 square feet in a high‑rise building constructed in 2008
- One‑bedroom, one‑bath residence with balcony
- Central heating and central air
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
$13,670
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
3.51%
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%
$273,400
$273.4K
Cap Rate 7%
$195,286
$195.3K
Cap Rate 9%
$151,889
$151.9K
Market Conditions
NOI Build-Up for 740 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
$26.6K $36.00/SF
− Vacancy
−$1.8K −$2.41/SF
EGI
$24.9K $33.59/SF
− OpEx
−$11.2K −$15.11/SF
NOI
$13.7K $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 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%
$273,400
Cap Rate 7%
$195,286
Cap Rate 9%
$151,889
Alternative Uses
Best Use
Apartment 5plus
$195.3K
$170.9K – $227.8K
NOI $13,670 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$499.5K
$437.1K – $582.8K
NOI $34,965 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
18,639
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence with a balcony, central HVAC, ceramic tile, and multiple parking options.
Where is this residential income property located?
The property is located at 350 S MIAMI Miami, FL.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 740 square feet in a high‑rise building constructed in 2008; One‑bedroom, one‑bath residence with balcony; Central heating and central air
