Legal Triplex with Separate
For Sale
$1,290,000
733 NW 33rd Ave, Miami, FL 33125
Income-producing legal triplex with three units, each metered separately for water and electricity.
Property Size3,114 SF
Days on Market211
Property Features for 733 NW 33rd Ave
General Information
Standard status
Active
Size
3,114 SF
Property subtype
Triplex
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$15,936
Building Details
Building Size
3,114 SF
Year Built
1982
Listing Agency:
Capital Intl Realty LLC
Listed By:
Sonia Petraitis · License #3283461
(305) 329-1470
Source:
Vanessafrankmiami
Added: Feb 10
Changed: Aug 24
Last Checked: Sep 8 at 11:28AM
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 Capital Intl Realty LLC
Investment Insights
Based on property information with market context.
This income-producing legal triplex features three separate units, each with its own individual water and electrical meters. The property is designed for flexible ownership, supporting scenarios where an investor or owner-occupant can benefit from current rental income.
The triplex is positioned just minutes from Downtown Miami and major highways, with mobility scores indicating it is somewhat walkable and bikeable, and has some access to transit.
With three independently metered units, the configuration provides straightforward utility separation across the building.
The triplex is positioned just minutes from Downtown Miami and major highways, with mobility scores indicating it is somewhat walkable and bikeable, and has some access to transit.
With three independently metered units, the configuration provides straightforward utility separation across the building.
Key Highlights
- Legal triplex built in 1982 with three separate units
- Each unit has its own individual water and electrical meters
- Income‑producing multifamily property with flexible investor or owner‑occupant use
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
$62,453
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
4.84%
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%
$1,249,060
$1.2M
Cap Rate 7%
$892,186
$892.2K
Cap Rate 9%
$693,922
$693.9K
Market Conditions
NOI Build-Up for 3,114 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
$95.3K $30.60/SF
− Vacancy
−$6.1K −$1.95/SF
EGI
$89.2K $28.65/SF
− OpEx
−$26.8K −$8.60/SF
NOI
$62.5K $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%
$1,249,060
Cap Rate 7%
$892,186
Cap Rate 9%
$693,922
Alternative Uses
Best Use
Multifamily LT 5
$892.2K
$780.7K – $1.04M
NOI $62,453 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$821.8K
$719.1K – $958.8K
NOI $57,526 @ 7.0% cap · market cap 4.46%
Theoretical Best
Specialty Retail
$2.10M
$1.84M – $2.45M
NOI $147,138 @ 7.0% cap · market cap 11.41%
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
1,924
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Income-producing legal triplex with three units, each metered separately for water and electricity.
Where is this triplex located?
The property is located at 733 NW 33rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,290,000.
What are key features of this property?
This property features: Legal triplex built in 1982 with three separate units; Each unit has its own individual water and electrical meters; Income‑producing multifamily property with flexible investor or owner‑occupant use
