Renovated Quadplex
For Sale
$1,895,000
4028 Southwest 11th Street, Miami, FL 33134
Renovated quadplex with a current 40-year certification that expires in 2036 and monthly income of $15,500.
Property Size3,836 SF
Price / SF$494
Days on Market161
Property Features for 4028 Southwest 11th Street
General Information
Standard status
Active
Size
3,836 SF
Property subtype
Multi-Family Income / Fourplex
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$11,529
Building Details
Year Built
1925
Listing Agency:
Landan Realty LLC
(305) 338-6436
Listed By:
Danay Puebla Llanos · License #3315105
(305) 338-6436
Source:
Compass
Added: Mar 4
Changed: Aug 8
Last Checked: Jul 23 at 3:13PM
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 Landan Realty LLC
Investment Insights
Based on property information with market context.
This renovated quadplex is offered as an income-producing property with improved interiors designed to enhance tenant appeal. A 40-year certification has recently passed and is set to expire in 2036, providing additional assurance for investors.
The property is described as conveniently located near major highways as well as shopping, dining, and employment centers. The listing also notes $15,500 per month in passive income.
Interested buyers should review the broker remarks for important information prior to requesting a showing and contact the listing agent with any questions.
The property is described as conveniently located near major highways as well as shopping, dining, and employment centers. The listing also notes $15,500 per month in passive income.
Interested buyers should review the broker remarks for important information prior to requesting a showing and contact the listing agent with any questions.
Key Highlights
- Renovated quadplex built in 1925
- Current 40‑year certification passed, expires in 2036
- Generates $15,500 per month in income
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
$76,933
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
4.06%
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%
$1,538,660
$1.5M
Cap Rate 7%
$1,099,043
$1.1M
Cap Rate 9%
$854,811
$854.8K
Market Conditions
NOI Build-Up for 3,836 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
$117.4K $30.60/SF
− Vacancy
−$7.5K −$1.95/SF
EGI
$109.9K $28.65/SF
− OpEx
−$33.0K −$8.60/SF
NOI
$76.9K $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 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%
$1,538,660
Cap Rate 7%
$1,099,043
Cap Rate 9%
$854,811
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$961.7K – $1.28M
NOI $76,933 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$1.01M
$885.8K – $1.18M
NOI $70,864 @ 7.0% cap · market cap 3.74%
Theoretical Best
Specialty Retail
$2.59M
$2.27M – $3.02M
NOI $181,253 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,945
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Renovated quadplex with a current 40-year certification that expires in 2036 and monthly income of $15,500.
Where is this quadplex located?
The property is located at 4028 Southwest 11th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Renovated quadplex built in 1925; Current 40‑year certification passed, expires in 2036; Generates $15,500 per month in income
