Multifamily Property with Three
6949 Byron Ave, Miami Beach, FL 33141
For Sale
Contact for pricing
Multifamily property featuring three units, suitable for residential income.
Property Size21,875 SF
Price / SF$242.29
Days on Market234
Property Features for 6949 Byron Ave
General Information
Standard status
Size
Property subtype
Building Details
Units
Listing Agency:
CHARLES RUTENBERG REALTY
Listed By:
Greg Greer · License FL #3070899
(786) 443-3133
Source:
Crexi
Added: Mar 27
Changed: Nov 8
Last Checked: Nov 14 at 2:45AM
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 CHARLES RUTENBERG REALTY
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property, suitable for residential income, features three units. The property is situated on a lot with a size of 21875 square feet.
Key Highlights
- Multifamily property
- 3 Units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$339,449
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,788,980
$6.8M
Cap Rate 7%
$4,849,271
$4.8M
Cap Rate 9%
$3,771,656
$3.8M
Market Conditions
NOI Build-Up for 21,875 SF
Gross rent
$661.5K $30.24/SF
− Vacancy
−$44.3K −$2.03/SF
EGI
$617.2K $28.21/SF
− OpEx
−$277.7K −$12.70/SF
NOI
$339.4K $15.52/SF
Area
Miami-Dade County, FL
Vacancy
6.70%
Lease Rate
$30.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,788,980
Cap Rate 7%
$4,849,271
Cap Rate 9%
$3,771,656
Alternative Uses
Best Use
Apartment 5plus
$4.85M
$4.24M – $5.66M
NOI $339,449 @ 7.0% cap · market cap 6.40%
Second Best
Multifamily LT 5
$3.67M
$3.21M – $4.28M
NOI $256,821 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$11.95M
$10.45M – $13.94M
NOI $836,178 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,212
Businesses Nearby
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Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Miami-Dade County, FL
Properties on Market for Triplexes in Miami-Dade County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property featuring three units, suitable for residential income.
Where is this triplex located?
The property is located at 6949 Byron Ave Miami Beach, FL.
What is the asking price?
The asking price for this property is $5,300,000.
What are key features of this property?
This property features: Multifamily property; 3 Units
