Triplex Near Miracle
For Sale
$1,649,000
450 Beacom Blvd, Miami, FL 33135
Income-producing triplex near Miracle Mile, Downtown, and Coral Gables.
Property Size2,475 SF
Days on Market165
Property Features for 450 Beacom Blvd
General Information
Standard status
Active
Size
2,475 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$9,866
Building Details
Building Size
2,475 SF
Year Built
1947
Listing Agency:
My Realty Group, LLC.
Listed By:
Hugo Lopez Diaz · License #3309360
(786) 999-3558
Source:
Marcelosteinmander
Added: Apr 20
Changed: Sep 23
Last Checked: Sep 30 at 3:31PM
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 My Realty Group, LLC.
Investment Insights
Based on property information with market context.
This triplex presents an investment opportunity, situated in close proximity to Miracle Mile, Downtown, and Coral Gables, offering convenient commutes to Downtown and Brickell. The property is located in an area with a walk score of 90, indicating it is a walker's paradise. The bike score is 59, making it bikeable, and the transit score is 47, suggesting some transit options are available.
Key Highlights
- Prime location near Miracle Mile, Downtown, and Coral Gables.
- Income‑producing triplex: Ideal for investors.
- High walkability score (90): Walker's Paradise.
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
$49,637
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
3.01%
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%
$992,740
$992.7K
Cap Rate 7%
$709,100
$709.1K
Cap Rate 9%
$551,522
$551.5K
Market Conditions
NOI Build-Up for 2,475 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
$75.7K $30.60/SF
− Vacancy
−$4.8K −$1.95/SF
EGI
$70.9K $28.65/SF
− OpEx
−$21.3K −$8.60/SF
NOI
$49.6K $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%
$992,740
Cap Rate 7%
$709,100
Cap Rate 9%
$551,522
Alternative Uses
Best Use
Multifamily LT 5
$709.1K
$620.5K – $827.3K
NOI $49,637 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$653.2K
$571.5K – $762.0K
NOI $45,722 @ 7.0% cap · market cap 2.77%
Theoretical Best
Specialty Retail
$1.67M
$1.46M – $1.95M
NOI $116,945 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Income-producing triplex near Miracle Mile, Downtown, and Coral Gables.
Where is this triplex located?
The property is located at 450 Beacom Blvd Miami, FL.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: Prime location near Miracle Mile, Downtown, and Coral Gables.; Income‑producing triplex: Ideal for investors.; High walkability score (90): Walker's Paradise.
