Renovated
For Sale
$850,000
6700 NW 6th Ave, Miami, FL 33150
Three updated residential units with modern kitchens, refreshed bathrooms, and new flooring throughout.
Property Size1,846 SF
Days on Market10
Property Features for 6700 NW 6th Ave
General Information
Standard status
Active
Size
1,846 SF
Property subtype
Income/MultiFamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Building Details
Building Size
1,846 SF
Year Built
1946
Listing Agency:
Fausto Commercial Realty Consultants Inc
(305) 510-6627
Listed By:
Vicente Rodriguez · License #3289280
Source:
Marcelosteinmander
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 11 at 12:35PM
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
Investment Insights
Based on property information with market context.
This three-unit residential property was built in 1946 and has undergone extensive renovation. Improvements include updated kitchens, refreshed bathrooms, new flooring, contemporary finishes, and work completed on both the interior and exterior. The property is income-producing and configured for multifamily ownership or occupancy in one unit while leasing the others.
The property is positioned near major highways, shopping, dining, schools, and public transportation. Its renovation scope and three-unit layout provide a clear multifamily format with updated interiors and reduced near-term maintenance needs.
The property is positioned near major highways, shopping, dining, schools, and public transportation. Its renovation scope and three-unit layout provide a clear multifamily format with updated interiors and reduced near-term maintenance needs.
Key Highlights
- Three‑unit multifamily property with extensive interior and exterior renovations
- Updated kitchens, refreshed bathrooms, new flooring, and contemporary finishes in each unit
- Built in 1946
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
$37,023
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
4.36%
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%
$740,460
$740.5K
Cap Rate 7%
$528,900
$528.9K
Cap Rate 9%
$411,367
$411.4K
Market Conditions
NOI Build-Up for 1,846 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
$56.5K $30.60/SF
− Vacancy
−$3.6K −$1.95/SF
EGI
$52.9K $28.65/SF
− OpEx
−$15.9K −$8.60/SF
NOI
$37.0K $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%
$740,460
Cap Rate 7%
$528,900
Cap Rate 9%
$411,367
Alternative Uses
Best Use
Multifamily LT 5
$528.9K
$462.8K – $617.1K
NOI $37,023 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$487.2K
$426.3K – $568.4K
NOI $34,102 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$1.25M
$1.09M – $1.45M
NOI $87,224 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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?
Triplex - Three updated residential units with modern kitchens, refreshed bathrooms, and new flooring throughout.
Where is this triplex located?
The property is located at 6700 NW 6th Ave Miami, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Three‑unit multifamily property with extensive interior and exterior renovations; Updated kitchens, refreshed bathrooms, new flooring, and contemporary finishes in each unit; Built in 1946
