Renovated Triplex with Central
For Sale
$1,236,900
842 SW 3rd St, Miami, FL 33130
MULTI_FAMILY - Miami, FL
Property Size2,184 SF
Lot Size7,500.00 Acres
Price / SF$566.35
Days on Market110
Property Features for 842 SW 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
3900
Parking
6
Subdivision
BRICKELL RIVERVIEW
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-38-003-3890
Size
2,184 SF
Lot size
7,500.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BRICKELL RIVERVIEW PB 5-43 LOT 6 BLK 28 LOT SIZE 7500 SQUARE FEET 75R 135442
Tax Annual Amount
11634
Legal Description
BRICKELL RIVERVIEW PB 5-43 LOT 6 BLK 28 LOT SIZE 7500 SQUARE FEET 75R 135442
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1938
Floors in Building
2
Flooring type
Tile
Building materials
Block
Listing Agency:
Fortune Christie's International Real Estate
(305) 400-6393
Listed By:
Marisol Lusardi · License #3091757
(786) 486-5284
Added: Apr 29
Changed: Jul 18
Last Checked: Aug 16 at 9:06AM
MLS# A12008320
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated triplex includes three units with updated interiors and in-unit amenities. Improvements cited include a new roof, impact windows, central A/C, new kitchens and baths, new flooring, new appliances, and washer/dryer in each unit. The property also features open parking on site, and the listing indicates all units are on annual leases with 30-day vacate clauses.
The site is described as a 7,500 SF lot under Miami zoning 3900, which permits 38–62 units per acre by code. The property is noted as within walking distance to Brickell City Centre, Calle Ocho, The Wharf, and Mary Brickell Village, with I-95 and I-395 approximately two miles away.
For buyers seeking a current-income residential asset with recent capital improvements, this tenant-occupied triplex offers renovated unit finishes and operational features such as central A/C and in-unit laundry. Offers require 48-hour notice, and all offers must be submitted via MLS Offers. The listing also states that the buyer can keep options open while holding the renovated income.
The site is described as a 7,500 SF lot under Miami zoning 3900, which permits 38–62 units per acre by code. The property is noted as within walking distance to Brickell City Centre, Calle Ocho, The Wharf, and Mary Brickell Village, with I-95 and I-395 approximately two miles away.
For buyers seeking a current-income residential asset with recent capital improvements, this tenant-occupied triplex offers renovated unit finishes and operational features such as central A/C and in-unit laundry. Offers require 48-hour notice, and all offers must be submitted via MLS Offers. The listing also states that the buyer can keep options open while holding the renovated income.
Key Highlights
- 7,500 SF lot with Miami zoning 3900 allowing 38–62 units per acre by code
- Renovated doors generating cash flow: three renovated units on annual leases with 30‑day vacate clauses
- Tenant‑occupied property with impact windows and central A/C; includes washer/dryer in unit
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
$43,801
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
3.54%
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%
$876,020
$876.0K
Cap Rate 7%
$625,729
$625.7K
Cap Rate 9%
$486,678
$486.7K
Market Conditions
NOI Build-Up for 2,184 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
$66.8K $30.60/SF
− Vacancy
−$4.3K −$1.95/SF
EGI
$62.6K $28.65/SF
− OpEx
−$18.8K −$8.60/SF
NOI
$43.8K $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%
$876,020
Cap Rate 7%
$625,729
Cap Rate 9%
$486,678
Alternative Uses
Best Use
Multifamily LT 5
$625.7K
$547.5K – $730.0K
NOI $43,801 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$576.4K
$504.3K – $672.4K
NOI $40,346 @ 7.0% cap · market cap 3.26%
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $103,195 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,822
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
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 - Renovated triplex with updated kitchens, baths, and impact windows, currently tenant occupied on annual leases.
Where is this triplex located?
The property is located at 842 SW 3rd St Miami, FL.
What is the asking price?
The asking price for this property is $1,236,900.
What are key features of this property?
This property features: 7,500 SF lot with Miami zoning 3900 allowing 38–62 units per acre by code; Renovated doors generating cash flow: three renovated units on annual leases with 30‑day vacate clauses; Tenant‑occupied property with impact windows and central A/C; includes washer/dryer in unit
