Triplex with Three Separate
8848 NW 5th Ave, El Portal, FL 33150
For Sale
$1,050,000
Three independently configured units occupy separate buildings on one property.
Property Size3,311 SF
Price / SF$317.12
Days on Market56
Property Features for 8848 NW 5th Ave
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Grant and Associates Real Estate INC
Listed By:
Lavarian Scott Jones · License #3404095
Source:
Brosdaandbentley
Added: Sep 14
Changed: Nov 7
Last Checked: Nov 7 at 2:43PM
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 Grant and Associates Real Estate INC
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Investment Insights
Based on property information with market context.
This triplex comprises three separate structures with independently configured units. The property contains 3,311 square feet and dates to 1938. It is offered in as-is condition, and a survey is available.
The property is in El Portal, with proximity to Miami Shores, Biscayne Boulevard and major transit corridors.
The property is in El Portal, with proximity to Miami Shores, Biscayne Boulevard and major transit corridors.
Key Highlights
- Three separate structures with independently configured units
- 3,311 square feet
- Built in 1938
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,194
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,103,880
$1.1M
Cap Rate 7%
$788,486
$788.5K
Cap Rate 9%
$613,267
$613.3K
Market Conditions
NOI Build-Up for 3,311 SF
Gross rent
$83.4K $25.20/SF
− Vacancy
−$4.6K −$1.39/SF
EGI
$78.8K $23.81/SF
− OpEx
−$23.7K −$7.14/SF
NOI
$55.2K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,103,880
Cap Rate 7%
$788,486
Cap Rate 9%
$613,267
Alternative Uses
Best Use
Multifamily LT 5
$788.5K
$689.9K – $919.9K
NOI $55,194 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$727.4K
$636.5K – $848.7K
NOI $50,921 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,587 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
965
Businesses Nearby
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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
$377,700
Median Home Value
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Market
Average Price Trend$/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 - Three independently configured units occupy separate buildings on one property.
Where is this triplex located?
The property is located at 8848 NW 5th Ave El Portal, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three separate structures with independently configured units; 3,311 square feet; Built in 1938
