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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3371 1St Ave Miami, FL 33145

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0276240
    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

    • Small apartment buildings

    Property Details for 3371 1St Ave

    Year built
    1975
    Property type
    Small apartment buildings

    Description

    This exceptional investment opportunity presents a beautifully renovated duplex located at 3371 SW 1st Ave, Miami, FL 33145, in the desirable Miami-Dade County. The property, known as EAST SHENANDOAH, is a single-story building constructed in 1975 and offers a compelling blend of classic charm and modern updates. The asking price is $1,339,000. This multifamily property comprises two distinct units, each designed for comfortable living. Unit #1 boasts three bedrooms and two bathrooms, while Unit #2 features two bedrooms and one bathroom. A comprehensive renovation was completed in 2021, ensuring modern amenities and finishes throughout. The property's convenient location offers easy access to the vibrant Brickell area, various public transportation options, and a nearby public park, enhancing its appeal to both residents and investors. This is a rare opportunity to acquire a well-maintained, income-generating property in a highly sought-after Miami neighborhood. The property's strong rental potential and prime location make it an ideal addition to any investment portfolio. Its proximity to key amenities and transportation ensures high occupancy rates and strong rental income. Don't miss this chance to own a piece of Miami's thriving real estate market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2139617
    Latitude
    25.7492364

    Comparable in this City

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      Miami Multifamily Investment Opportunity

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      Miami Multifamily Investment Opportunity

      Five-unit apartment building, remodeled, prime location.
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      Miami Duplex: Prime Location Investment

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    • $848,000

      Miami Duplex: Prime Location

      Two-unit apartment building, great investment.
      3251 23Rd Ter, Miami, FL 33145
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    Similar Nearby for Sale

    • $1,100,000
      2,713 SF

      Miami Duplex: Prime Location

      Kensington Park gem: 2-unit, high-return potential.
      1721 24Th Ter, Miami, FL 33145
      View Details
    • $990,750

      Miami Multifamily Investment Opportunity

      Prime Miami location, updated duplex, high rental potential.
      2725 21St Ter, Miami, FL 33145
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    • $1,100,000

      Miami Multifamily Investment Opportunity

      Five-unit apartment building, remodeled, prime location.
      2901 21St St, Miami, FL 33145
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    • $799,900
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      Miami Duplex: Prime Location Investment

      Two-unit duplex near Coral Gables
      3334 24Th St, Miami, FL 33145
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    • $848,000

      Miami Duplex: Prime Location

      Two-unit apartment building, great investment.
      3251 23Rd Ter, Miami, FL 33145
      View Details

    Similar Nearby for Lease

    • $1,675 /Mo

      Little Havana Apartment with Utilities

      Convenient one-bedroom apartment in Little Havana with included utilities.
      1400 SW 29Th Ave, Miami, FL 33145
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    • $2,600 /Mo

      Luxury Apartment in Coral Gables

      Upscale 1-bedroom apartment with city views and modern amenities.
      1501 SW 37Th Ave, Miami, FL 33145
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    • $3,999 /Mo

      Furnished Home in Miami

      Furnished 3-bedroom, 2-bathroom home near Brickell, Coral Gables.
      2453 SW 17Th St, Miami, FL 33145
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    • $3,200 /Mo

      Shenandoah 2-Bedroom Residence For Rent

      Charming 2-bedroom, 1-bathroom residence in the heart of Shenandoah.
      2131 SW 19Th Ave, Miami, FL 33145
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    • $2,575 /Mo

      Remodeled Duplex in Prime Location

      Remodeled duplex unit near Coral Gables, Downtown, and Brickell.
      3506 SW 23Rd Ter, Miami, FL 33145
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    • $2,500 /Mo

      Renovated Duplex Near Coral Gables

      Renovated duplex near Coral Gables with terrazzo floors.
      3518 SW 24Th Ter, Miami, FL 33145
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    3371 1St Ave
    Miami, FL 33145
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    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
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