Renovated Triplex with Central
For Sale
$1,550,000
529 SW 3rd St, Miami, FL 33130
Residential Income, Miami, FL
Property Size2,730 SF
Price / SF$567.77
Days on Market42
Property Features for 529 SW 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
3900
Bedrooms
8
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 7, Bathroom 3, Bedroom 8, Bedroom 1, Bedroom 5, Bedroom 2, Bathroom 4, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 6
Parking
4
Subdivision
CITY OF MIAMI SOUTH
Lot features
< 1/4 Acre
Standard status
Active
APN
01-02-02-000-1200
Size
2,730 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
CITY OF MIAMI SOUTH PB B-41 LOT 17 BLK 20 LOT SIZE 7500 SQUARE FEET OR 19734-1166 04 2001 3 COC 23769-0667 08 2005 4
Tax Annual Amount
15846
Legal Description
CITY OF MIAMI SOUTH PB B-41 LOT 17 BLK 20 LOT SIZE 7500 SQUARE FEET OR 19734-1166 04 2001 3 COC 23769-0667 08 2005 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
central AC
in-unit laundry
Building Details
Year built
1910
Floors in Building
2
Flooring type
Tile - Ceramic, Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Monica Malpica · License #3282829
(407) 968-3856
Added: Jul 18
Changed: Aug 27
Last Checked: Aug 28 at 7:06PM
MLS# A11952416
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 renovated triplex contains 2,730 square feet within a 1910-built residential structure. Block construction, laminate and ceramic tile flooring, central heating, and central air conditioning define the improvements. PVC plumbing is in place, and each unit includes laundry facilities. The shingle roof dates to 2017.
Located at 529 SW 3rd St in Miami, the property is a few blocks from Brickell. It is zoned for multifamily use and connected to public sewer, with cable service available. The existing configuration includes residential rooms and four bathrooms, along with central air conditioning throughout the units.
Located at 529 SW 3rd St in Miami, the property is a few blocks from Brickell. It is zoned for multifamily use and connected to public sewer, with cable service available. The existing configuration includes residential rooms and four bathrooms, along with central air conditioning throughout the units.
Key Highlights
- 2,730‑square‑foot multifamily property
- Legal triplex currently operating 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
Lease Details
3
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Multifamily zoning and separate laundry areas support the property's residential income configuration.
Where is this triplex 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: 2,730‑square‑foot multifamily property; Legal triplex currently operating as a fourplex; Zoned for multifamily use
