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

    49 56Th St Miami, FL 33137

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1573199
    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 49 56Th St

    Year built
    1955
    Property type
    Small apartment buildings

    Description

    This 1-story, 1955-built apartment building in Miami, Florida (33137), located at 49 NE 56th St, presents a compelling investment opportunity. Priced at $775,000, this four-plex offers three one-bedroom, one-bathroom units and a studio apartment. The property is being sold "as-is" without repairs or warranty, providing a blank canvas for renovation and value enhancement. Situated in a desirable area near Upper Buena Vista, the Miami Design District, Midtown, Wynwood, and Museums, the building benefits from excellent proximity to cultural attractions and vibrant neighborhoods. While requiring some rehabilitation and tender loving care, the property's location and potential for increased rental income make it an attractive prospect for investors seeking a hands-on project with significant upside. The motivated seller is ready to negotiate, making this a timely opportunity to acquire a multifamily property in a high-demand Miami location. The property is a single-story structure, offering straightforward renovation possibilities. This is a chance to elevate your investment portfolio with a property ripe for modernization and increased profitability.

    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
    -80.1952326
    Latitude
    25.8272784

    Comparable in this City

    • $1,250,000
      1,732 SF

      Prime Miami Multifamily Investment

      Four-unit apartment building, strong rental history.
      242 55Th Ter, Miami, FL 33137
      View Details
    • $1,975,000

      Miami 8-Unit Apartment Building

      High-Yield Multifamily Investment in Miami
      121 55Th St, Miami, FL 33137
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    • $5,270,000

      Edgewater Multifamily Redevelopment Opportunity

      Prime Edgewater location with redevelopment potential near Biscayne Bay.
      401 NE 22Nd St, Miami, FL 33137
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    • $3,500,000

      Edgewater Multifamily Building for Sale

      Two-story, seven-unit building in Edgewater with redevelopment potential.
      437 NE 30Th St, Miami, FL 33137
      View Details
    • $1,750,000

      Renovated Multifamily Building For Sale

      Fully rented 8-unit building with income potential in developing area.
      121 NE 55Th St, Miami, FL 33137
      View Details
    • $3,500,000
      5,220 SF

      Edgewater Redevelopment Opportunity

      7-Unit Multifamily, High Potential
      437 30Th St, Miami, FL 33137
      View Details

    Similar Nearby for Sale

    • $1,975,000

      Miami 8-Unit Apartment Building

      High-Yield Multifamily Investment in Miami
      121 55Th St, Miami, FL 33137
      View Details
    • $1,250,000
      1,732 SF

      Prime Miami Multifamily Investment

      Four-unit apartment building, strong rental history.
      242 55Th Ter, Miami, FL 33137
      View Details
    • $5,270,000

      Edgewater Multifamily Redevelopment Opportunity

      Prime Edgewater location with redevelopment potential near Biscayne Bay.
      401 NE 22Nd St, Miami, FL 33137
      View Details
    • $3,500,000
      5,220 SF

      Edgewater Redevelopment Opportunity

      7-Unit Multifamily, High Potential
      437 30Th St, Miami, FL 33137
      View Details
    • $11,777,000

      Edgewater Multifamily Redevelopment Opportunity

      Edgewater multifamily property with redevelopment potential and waterfront views.
      601 NE 22Nd St, Miami, FL 33137
      View Details
    • $3,500,000

      Edgewater Multifamily Building for Sale

      Two-story, seven-unit building in Edgewater with redevelopment potential.
      437 NE 30Th St, Miami, FL 33137
      View Details

    Similar Nearby for Lease

    • $2,750 /Mo

      Edgewater Two Bedroom Apartment

      Spacious apartment near Wynwood, Midtown, and Design District.
      425 NE 30Th St, Miami, FL 33137
      View Details
    • $2,150 /Mo

      Gated Multifamily Unit For Rent

      Second-story, 2-bedroom, 1-bath unit with in-unit laundry and parking.
      174 NE 55Th St, Miami, FL 33137
      View Details
    • $55 SF/Yr
      2,950 SF

      Strata Wynwood: Mixed-Use Property

      Luxury apartments, retail, and office spaces in Miami's Art District.
      21 NE 22Nd St, Miami, FL 33137
      View Details
    • $2,300 /Mo

      Miami Design District Apartment

      Stylish 2 bed, 2 bath apartment in vibrant Miami Design District.
      259 NE 51St St, Miami, FL 33137
      View Details
    • $1,400 /Mo

      Renovated Studio Upper Eastside Miami

      Stylish studio with new impact window, roof, and AC.
      551 NE 61St St, Miami, FL 33137
      View Details
    • $3,799 /Mo

      Renovated Apartment Near Miami Design

      Newly renovated 3-bedroom apartment near Miami Design District.
      4222 NE 1St Ave, Miami, FL 33137
      View Details
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    49 56Th St
    Miami, FL 33137
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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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