New Construction
New
For Sale
$699,999
634 NW 12th Street, Florida City, FL 33034
Two three-bedroom, two-bath units offer separate water and FPL metering.
Property Size2,554 SF
Price / SF$280.67
Days on Market5
Property Features for 634 NW 12th Street
General Information
Standard status
Active
Size
2,554 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
5700
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,450
Building Details
Building Size
2,554 SF
Year Built
2024
Stories
1
Listing Agency:
The Real Estate Firm Inc
(305) 502-2675
Listed By:
Lourdes Cuenca · License #3296426
(305) 502-2675
Source:
Laerrealty
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 23 at 2:51AM
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 Real Estate Firm Inc
Investment Insights
Based on property information with market context.
Completed in 2024, this duplex contains two separate three-bedroom, two-bath units within a 2,494-square-foot property. Each unit is individually served by separate water and FPL meters, supporting distinct utility accounting between the residences. The property also includes ample on-site parking and is located at 634 NW 12th Street in Florida City, Florida.
Key Highlights
- 2024 construction with 2,494 square feet
- Two units, each with 3 bedrooms and 2 bathrooms
- Separate water meters for each 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
$41,574
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
5.94%
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%
$831,480
$831.5K
Cap Rate 7%
$593,914
$593.9K
Cap Rate 9%
$461,933
$461.9K
Market Conditions
NOI Build-Up for 2,494 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
$62.8K $25.20/SF
− Vacancy
−$3.5K −$1.39/SF
EGI
$59.4K $23.81/SF
− OpEx
−$17.8K −$7.14/SF
NOI
$41.6K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$831,480
Cap Rate 7%
$593,914
Cap Rate 9%
$461,933
Alternative Uses
Best Use
Multifamily LT 5
$593.9K
$519.7K – $692.9K
NOI $41,574 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$547.9K
$479.5K – $639.3K
NOI $38,356 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,572 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,821
Businesses Nearby
Explore this area
Business Placement
Demographics for 33034, FL
22,850
Population
6,631
Households
3.4
Avg Household Size
34
Median Age
9%
College-Educated
65%
High-School Grad
1,173.1 sq mi
ZIP Area
19
Density / Sq Mi
$46,404
Median Household Income
$31,712
Median Earnings
$1,283
Median Rent
$310,700
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?
Duplex - Two three-bedroom, two-bath units offer separate water and FPL metering.
Where is this duplex located?
The property is located at 634 NW 12th Street Florida City, FL.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 2024 construction with 2,494 square feet; Two units, each with 3 bedrooms and 2 bathrooms; Separate water meters for each unit
