CBS Construction
For Sale
$1,250,000
650 Northwest 28th Street, Miami, FL 33127
Four-unit multifamily property with durable CBS construction and proximity to Miami’s Wynwood Arts District.
Property Size3,204 SF
Price / SF$390.14
Days on Market195
Property Features for 650 Northwest 28th Street
General Information
Standard status
Active
Size
3,204 SF
Property subtype
Residential Income / Fourplex
Taxes and HOA fees
Annual Taxes
$13,567
Building Details
Year Built
1972
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Miguel Fuentes · License #3403804
(786) 748-7373
Source:
Compass
Added: Apr 9
Changed: Oct 16
Last Checked: Oct 19 at 9:04AM
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 Fausto Commercial Realty Consultants Inc
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Investment Insights
Based on property information with market context.
Built in 1972, this four-unit multifamily property contains 3,204 square feet and features CBS construction. The quadplex is positioned in Miami’s Allapattah area, within the West of Wynwood District and near the Wynwood Arts District.
The property is located just blocks from the Rubell Museum and near the NW 29th Street corridor, where retail, dining, and creative office uses are present. Its existing four-unit configuration and established construction provide a defined multifamily asset in a district connected to nearby cultural and commercial destinations.
The property is located just blocks from the Rubell Museum and near the NW 29th Street corridor, where retail, dining, and creative office uses are present. Its existing four-unit configuration and established construction provide a defined multifamily asset in a district connected to nearby cultural and commercial destinations.
Key Highlights
- 3,204‑square‑foot quadplex built in 1972
- Four‑unit multifamily configuration
- CBS construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,258
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,285,160
$1.3M
Cap Rate 7%
$917,971
$918.0K
Cap Rate 9%
$713,978
$714.0K
Market Conditions
NOI Build-Up for 3,204 SF
Gross rent
$98.0K $30.60/SF
− Vacancy
−$6.2K −$1.95/SF
EGI
$91.8K $28.65/SF
− OpEx
−$27.5K −$8.60/SF
NOI
$64.3K $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 Rate 5%
$1,285,160
Cap Rate 7%
$917,971
Cap Rate 9%
$713,978
Alternative Uses
Best Use
Multifamily LT 5
$918.0K
$803.2K – $1.07M
NOI $64,258 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$845.6K
$739.9K – $986.5K
NOI $59,189 @ 7.0% cap · market cap 4.74%
Theoretical Best
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $151,390 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,335
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property with durable CBS construction and proximity to Miami’s Wynwood Arts District.
Where is this quadplex located?
The property is located at 650 Northwest 28th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 3,204‑square‑foot quadplex built in 1972; Four‑unit multifamily configuration; CBS construction
