6-Unit Apartment Building with Gated
For Sale
$1,500,000
729 NW 55th Ter, Miami, FL 33127
Two-story apartment property with a second building, central A/C, covered parking, and a fenced outdoor area.
Property Size4,232 SF
Price / SF$354.44
Days on Market52
Property Features for 729 NW 55th Ter
General Information
Standard status
Active
Size
4,232 SF
Property subtype
Income/MultiFamily
Additional Details
Multifamily Units
6
Amenities
gated parking
central A/C
backyard
storage sheds
covered carport
fenced perimeter
Building Details
Building Size
4,232 SF
Year Built
1926
Buildings
2
Listing Agency:
Lexico Realty Inc
Listed By:
Alejandro Patino · License #3264284
(954) 328-6498
Source:
Batrare
Added: Aug 12
Changed: Sep 19
Last Checked: Oct 1 at 7:12PM
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 Lexico Realty Inc
Investment Insights
Based on property information with market context.
Built in 1926, this six-unit apartment property includes a two-story main building and an additional building on an oversized lot. The asset contains 10 bedrooms and 8 bathrooms, with central A/C in the units. Site improvements include gated parking, a covered carport, multiple storage sheds, a spacious backyard, and a fully fenced perimeter. Appliances are scheduled for installation before closing, and the roof is described as weathertight.
The property is located at 729 NW 55th Ter in Miami, near the Miami Design District, Midtown, Downtown, and Miami Beach. The site is described as high and dry and is surrounded by new two-story construction.
The property is located at 729 NW 55th Ter in Miami, near the Miami Design District, Midtown, Downtown, and Miami Beach. The site is described as high and dry and is surrounded by new two-story construction.
Key Highlights
- 6‑unit multifamily property built in 1926
- 10 bedrooms and 8 bathrooms
- Two‑story main building plus an additional building
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
$78,179
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
5.21%
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%
$1,563,580
$1.6M
Cap Rate 7%
$1,116,843
$1.1M
Cap Rate 9%
$868,656
$868.7K
Market Conditions
NOI Build-Up for 4,232 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
$152.4K $36.00/SF
− Vacancy
−$10.2K −$2.41/SF
EGI
$142.1K $33.59/SF
− OpEx
−$64.0K −$15.11/SF
NOI
$78.2K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,563,580
Cap Rate 7%
$1,116,843
Cap Rate 9%
$868,656
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$977.2K – $1.30M
NOI $78,179 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.86M
$2.50M – $3.33M
NOI $199,964 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,509
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story apartment property with a second building, central A/C, covered parking, and a fenced outdoor area.
Where is this apartment building located?
The property is located at 729 NW 55th Ter Miami, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6‑unit multifamily property built in 1926; 10 bedrooms and 8 bathrooms; Two‑story main building plus an additional building
