Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1371 3 Miami, FL 33125

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0469437
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1371 3

    Year built
    1997
    Property type
    Commercial real estate

    Description

    This exceptional 10-unit multifamily property, built in 1997, is located in the heart of Miami's vibrant Little Havana neighborhood. The property boasts a prime location offering easy access to Brickell, Downtown Miami, the Health District, and Miami Beach via the 836 Highway. Residents enjoy proximity to fine dining, shopping, and parks. All ten units are spacious one-bedroom, one-bathroom apartments. The building features a flat roof, a mix of central air conditioning and wall units, individual water and electric meters to reduce operating expenses, impact windows, and PVC plumbing, making this a truly turnkey investment. The T5-L zoning allows for AirBnB licensure and short-term rentals, presenting significant income-generating opportunities. This property represents a rare opportunity to acquire a well-maintained, income-producing asset in a rapidly appreciating area of Miami. The asking price is $2,950,000. The property's address is 1371 NW 3 St, Miami, FL 33125, in Miami-Dade County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.217864
    Latitude
    25.7765856

    Comparable in this City

    • $1,600,000

      Luxury Miami River Duplex

      Turnkey, 2-story, fully furnished duplex
      1968 25Th Ave, Miami, FL 33125
      View Details
    • $1,425,000

      Miami Duplex Investment Opportunity

      Two-unit duplexes, prime Miami location.
      470 26Th Ave, Miami, FL 33125
      View Details
    • $800,000
      1,896 SF

      Miami Duplex - Prime Location

      Spacious Miami duplex, high rental income.
      21 32Nd St, Miami, FL 33125
      View Details
    • $1,020,000

      Multifamily Property Near Marlins Stadium

      Income-producing property with two units near highways and entertainment.
      2029 NW 5Th St, Miami, FL 33125
      View Details
    • $479,999

      Miami Multifamily Investment Opportunity

      Six-bedroom, four-bathroom multifamily property near Miami River.
      1842 NW 18Th Ter, Miami, FL 33125
      View Details
    • $849,900

      Updated Duplex Near Miami Highlights

      Updated multi-family duplex near major highways and Miami attractions.
      1027 NW 28Th Ave, Miami, FL 33125
      View Details

    Similar Nearby for Sale

    • $1,600,000

      Luxury Miami River Duplex

      Turnkey, 2-story, fully furnished duplex
      1968 25Th Ave, Miami, FL 33125
      View Details
    • $800,000
      1,896 SF

      Miami Duplex - Prime Location

      Spacious Miami duplex, high rental income.
      21 32Nd St, Miami, FL 33125
      View Details
    • $1,425,000

      Miami Duplex Investment Opportunity

      Two-unit duplexes, prime Miami location.
      470 26Th Ave, Miami, FL 33125
      View Details
    • $479,999

      Miami Multifamily Investment Opportunity

      Six-bedroom, four-bathroom multifamily property near Miami River.
      1842 NW 18Th Ter, Miami, FL 33125
      View Details
    • $849,900

      Updated Duplex Near Miami Highlights

      Updated multi-family duplex near major highways and Miami attractions.
      1027 NW 28Th Ave, Miami, FL 33125
      View Details
    • $1,020,000

      Multifamily Property Near Marlins Stadium

      Income-producing property with two units near highways and entertainment.
      2029 NW 5Th St, Miami, FL 33125
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo

      Renovated Three-Bedroom Miami Apartment

      Spacious, renovated three-bedroom apartment with den, close to amenities.
      2732 NW 16Th St, Miami, FL 33125
      View Details
    • $3,750 /Mo

      Renovated Duplex Near Miami Attractions

      Completely renovated duplex with modern finishes, ideally located near Miami attractions.
      918 NW 23Rd Ct, Miami, FL 33125
      View Details
    • $1,750 /Mo

      Miami Multifamily Unit For Rent

      Section 8 approved multifamily unit with parking and laundry.
      2755 NW 11Th St, Miami, FL 33125
      View Details
    • $1,650 /Mo

      Renovated Apartment Near Downtown Miami

      Modern 1-bedroom apartment in a prime Miami location.
      1922 NW 13Th St, Miami, FL 33125
      View Details
    • $2,500 /Mo

      Centrally Located Two-Bedroom Apartment

      Freshly repainted 2-bedroom apartment near Miami International Airport.
      2902 NW 11Th St, Miami, FL 33125
      View Details
    • $2,700 /Mo

      Remodeled Miami Triplex Unit

      Remodeled 3/1 unit in the heart of Miami.
      1560 NW 25Th Ave, Miami, FL 33125
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1371 3
    Miami, FL 33125
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.