Fourplex Residential Income
For Sale
$1,800,000
9302 NW 4th Ave, Miami, FL 33150
Fourplex offers four rental units with individual water and electrical meters.
Property Size6,938 SF
Price / SF$259.44
Days on Market184
Property Features for 9302 NW 4th Ave
General Information
Standard status
Active
Size
6,938 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$21,535
Building Details
Building Size
6,938 SF
Year Built
2006
Tenancy
Multi
Listing Agency:
Mega Int'l Realty
Listed By:
Yves Gachette · License #3031780
(786) 426-6377
Source:
Casacollectiongroup
Added: Mar 12
Changed: Sep 8
Last Checked: Sep 10 at 7:46AM
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 Mega Int'l Realty
Investment Insights
Based on property information with market context.
This fourplex residential income property includes four separate units. Two units are configured as 3-bedroom, 2.5-bath homes, and the other two units feature 2 bedrooms and 2 bathrooms.
The building is located about a block from Miami Shores. Each unit has its own water and electrical meter, supporting independent utility management for tenants.
The seller is offering terms for interested buyers, with an emphasis on entertaining offers that make sense.
The building is located about a block from Miami Shores. Each unit has its own water and electrical meter, supporting independent utility management for tenants.
The seller is offering terms for interested buyers, with an emphasis on entertaining offers that make sense.
Key Highlights
- Fourplex built in 2006 with four rental units
- Unit mix includes (2) 3‑bedroom/2.5‑bath units and (2) 2‑bedroom/2‑bath units
- Each unit has its own water and electrical meter
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
$139,145
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
7.73%
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%
$2,782,900
$2.8M
Cap Rate 7%
$1,987,786
$2.0M
Cap Rate 9%
$1,546,056
$1.5M
Market Conditions
NOI Build-Up for 6,938 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
$212.3K $30.60/SF
− Vacancy
−$13.5K −$1.95/SF
EGI
$198.8K $28.65/SF
− OpEx
−$59.6K −$8.60/SF
NOI
$139.1K $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%
$2,782,900
Cap Rate 7%
$1,987,786
Cap Rate 9%
$1,546,056
Alternative Uses
Best Use
Multifamily LT 5
$1.99M
$1.74M – $2.32M
NOI $139,145 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$1.83M
$1.60M – $2.14M
NOI $128,168 @ 7.0% cap · market cap 7.12%
Theoretical Best
Specialty Retail
$4.68M
$4.10M – $5.46M
NOI $327,824 @ 7.0% cap · market cap 18.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,371
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex offers four rental units with individual water and electrical meters.
Where is this quadplex located?
The property is located at 9302 NW 4th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Fourplex built in 2006 with four rental units; Unit mix includes (2) 3‑bedroom/2.5‑bath units and (2) 2‑bedroom/2‑bath units; Each unit has its own water and electrical meter
