CBS
650 NW 28th St, Miami, FL 33127
For Sale
$1,250,000
Built in 1972, the property sits in Allapattah near the Rubell Museum, Wynwood Arts District, and NW 29th Street corridor.
Property Size3,204 SF
Days on Market194
Property Features for 650 NW 28th St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Construction
Listing Agency:
Fausto Commercial Realty Consultants Inc
Listed By:
Miguel Fuentes · License FL #3403804
(305) 915-3492
Source:
Miamibrokersgroup
Added: May 1
Changed: Nov 7
Last Checked: Nov 10 at 6:41PM
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.
This four-unit residential income property is constructed with CBS materials and was built in 1972. The building is located at 650 NW 28th St in Miami’s Allapattah area, within the district identified as WOW, or West of Wynwood.
The property is positioned near the Rubell Museum and Wynwood Arts District, with access to the NW 29th Street corridor. Its four-unit configuration provides a defined multifamily format within an established Miami neighborhood and places the asset near surrounding retail, dining, and creative office activity described for the corridor.
The property is positioned near the Rubell Museum and Wynwood Arts District, with access to the NW 29th Street corridor. Its four-unit configuration provides a defined multifamily format within an established Miami neighborhood and places the asset near surrounding retail, dining, and creative office activity described for the corridor.
Key Highlights
- Four‑unit residential income property
- CBS construction
- Built in 1972
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
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Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,803
Businesses Nearby
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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
$398,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Miami, FL
Properties on Market for Quadplexes in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Built in 1972, the property sits in Allapattah near the Rubell Museum, Wynwood Arts District, and NW 29th Street corridor.
Where is this quadplex located?
The property is located at 650 NW 28th St 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: Four‑unit residential income property; CBS construction; Built in 1972
