Fully Renovated
For Sale
$1,550,000
529 SW 3rd St, Miami, FL 33130
Fully renovated fourplex currently operating as a legal triplex and zoned for multifamily use.
Property Size2,730 SF
Price / SF$567.77
Days on Market226
Property Features for 529 SW 3rd St
General Information
Standard status
Active
Size
2,730 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$15,846
Building Details
Building Size
2,730 SF
Year Built
1910
Listing Agency:
LPT Realty, LLC
Listed By:
Monica Malpica · License #3282829
(407) 297-8500
Source:
Casacollectiongroup
Added: Jan 25
Changed: Sep 8
Last Checked: Sep 8 at 9:45AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This fully renovated fourplex is currently operating as a configuration that differs from its legal description; it is noted as a legal triplex working as a fourplex. The property is identified as zoned for multifamily use.
The address is 529 SW 3rd St in Miami, Florida, and the public remarks place the property only a few blocks away from Brickell. This combination of existing multifamily zoning and a turnkey, renovated interior may be appealing to buyers looking for straightforward income use as well as potential future repositioning.
The address is 529 SW 3rd St in Miami, Florida, and the public remarks place the property only a few blocks away from Brickell. This combination of existing multifamily zoning and a turnkey, renovated interior may be appealing to buyers looking for straightforward income use as well as potential future repositioning.
Key Highlights
- Fully renovated fourplex operating as a legal triplex (currently 3 units)
- Legal triplex currently working as a fourplex
- Zoned for multifamily use
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
$54,752
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
3.53%
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%
$1,095,040
$1.1M
Cap Rate 7%
$782,171
$782.2K
Cap Rate 9%
$608,356
$608.4K
Market Conditions
NOI Build-Up for 2,730 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
$83.5K $30.60/SF
− Vacancy
−$5.3K −$1.95/SF
EGI
$78.2K $28.65/SF
− OpEx
−$23.5K −$8.60/SF
NOI
$54.8K $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%
$1,095,040
Cap Rate 7%
$782,171
Cap Rate 9%
$608,356
Alternative Uses
Best Use
Multifamily LT 5
$782.2K
$684.4K – $912.5K
NOI $54,752 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$720.5K
$630.4K – $840.5K
NOI $50,432 @ 7.0% cap · market cap 3.25%
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.15M
NOI $128,994 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,064
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
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 - Fully renovated fourplex currently operating as a legal triplex and zoned for multifamily use.
Where is this quadplex located?
The property is located at 529 SW 3rd St Miami, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Fully renovated fourplex operating as a legal triplex (currently 3 units) ; Legal triplex currently working as a fourplex; Zoned for multifamily use
