Renovated Mixed-Use
For Sale
$750,000
3705 NW 35th Ave, Miami, FL 33142
Renovated residential, warehouse, and storage components accommodate three established tenants.
Property Size2,954 SF
Price / SF$253.89
Days on Market41
Property Features for 3705 NW 35th Ave
General Information
Standard status
Active
Size
2,954 SF
Financials
Gross Income
$74,400
Average Monthly Rent
$2,700
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Building Details
Year Built
1947
Tenancy
Multi
Listing Agency:
The Keyes Company
(305) 371-3592
Listed By:
Rey Figueroa · License #3043933
Source:
Chenoregroup
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 29 at 10:53AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This 2,954-square-foot mixed-use property, built in 1947, combines a renovated residential unit with commercial storage and warehouse space. The residence offers three bedrooms and two bathrooms, while the separate warehouse area has undergone extensive upgrades. A distinct storage or efficiency unit adds another functional component to the layout.
The property is located at 3705 NW 35th Ave in Miami, Florida. Three established tenants occupy the residential, warehouse, and storage spaces, creating a diversified in-place occupancy profile. The residential improvements include replacement plywood subflooring, and the warehouse has been substantially updated. Showings are available by appointment.
The property is located at 3705 NW 35th Ave in Miami, Florida. Three established tenants occupy the residential, warehouse, and storage spaces, creating a diversified in-place occupancy profile. The residential improvements include replacement plywood subflooring, and the warehouse has been substantially updated. Showings are available by appointment.
Key Highlights
- 2,954‑square‑foot mixed‑use property at 3705 NW 35th Ave, Miami, FL 33142
- Built in 1947
- Renovated 3‑bedroom / 2‑bath residential unit
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
$48,190
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
6.43%
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%
$963,800
$963.8K
Cap Rate 7%
$688,429
$688.4K
Cap Rate 9%
$535,444
$535.4K
Market Conditions
NOI Build-Up for 2,954 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
$59.6K $20.16/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$56.7K $19.19/SF
− OpEx
−$8.5K −$2.88/SF
NOI
$48.2K $16.31/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
15.00%
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%
$963,800
Cap Rate 7%
$688,429
Cap Rate 9%
$535,444
Alternative Uses
Best Use
Mixed Use
$997.0K
$872.4K – $1.16M
NOI $69,788 @ 7.0% cap · market cap 9.31%
Second Best
Warehouse
$688.4K
$602.4K – $803.2K
NOI $48,190 @ 7.0% cap · market cap 6.43%
Theoretical Best
Specialty Retail
$1.99M
$1.74M – $2.33M
NOI $139,578 @ 7.0% cap · market cap 18.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,320
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated residential, warehouse, and storage components accommodate three established tenants.
Where is this mixed-use property located?
The property is located at 3705 NW 35th Ave Miami, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,954‑square‑foot mixed‑use property at 3705 NW 35th Ave, Miami, FL 33142; Built in 1947; Renovated 3‑bedroom / 2‑bath residential unit
