Quadplex with Two Duplex
For Sale
Under Contract
$1,100,000
1499 NW 32nd St, Miami, FL 33142
MULTI_FAMILY - Miami, FL
Property Size3,665 SF
Price / SF$300.14
Days on Market32
Property Features for 1499 NW 32nd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
5
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 3
Parking
4
Subdivision
ALLAPATTAH MANORS SUB
Lot features
< 1/4 Acre
Standard status
Active Under Contract
APN
01-31-26-022-0100
Size
3,665 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
ALLAPATTAH MANORS SUB PB 15-76 LOT 1 & W5FT LOT 2 BLK 2 LOT SIZE 55.000 X 1100 OR 10846-1683 0880 1
Tax Annual Amount
4493
Legal Description
ALLAPATTAH MANORS SUB PB 15-76 LOT 1 & W5FT LOT 2 BLK 2 LOT SIZE 55.000 X 1100 OR 10846-1683 0880 1
Utilities
Sewer type
Public Sewer
Building Details
Year built
1930
Floors in Building
2
Building materials
Brick, Block
Listing Agency:
The Keyes Company
(305) 822-9800
Listed By:
Faith Johnson · License #3553382
(786) 704-2729
Added: Jul 17
Changed: Aug 13
Last Checked: Aug 17 at 9:06AM
MLS# A11849114
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Quadplex consisting of two duplex buildings totaling four residential units, with all units situated on one parcel. The property is offered as a single multi-unit income-producing asset and is classified as nonconforming zoning T3-O, providing flexibility for the right investor.
Located at 1499 NW 32nd St in Miami, FL 33142 (Miami-Dade County). The building materials are brick and block, with public sewer service. The property was built in 1930 and has a total size of 3,665 square feet.
The layout supports multiple bedrooms and bathrooms across the four units, making the configuration well-suited for operators looking for a consolidated ownership structure while managing a duplex-by-duplex approach within one quadplex asset.
Located at 1499 NW 32nd St in Miami, FL 33142 (Miami-Dade County). The building materials are brick and block, with public sewer service. The property was built in 1930 and has a total size of 3,665 square feet.
The layout supports multiple bedrooms and bathrooms across the four units, making the configuration well-suited for operators looking for a consolidated ownership structure while managing a duplex-by-duplex approach within one quadplex asset.
Key Highlights
- Four residential units across two duplex buildings
- All units situated on one parcel and offered together
- Nonconforming zoning classification T3‑O
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
$73,504
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
6.68%
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%
$1,470,080
$1.5M
Cap Rate 7%
$1,050,057
$1.1M
Cap Rate 9%
$816,711
$816.7K
Market Conditions
NOI Build-Up for 3,665 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
$112.1K $30.60/SF
− Vacancy
−$7.1K −$1.95/SF
EGI
$105.0K $28.65/SF
− OpEx
−$31.5K −$8.60/SF
NOI
$73.5K $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%
$1,470,080
Cap Rate 7%
$1,050,057
Cap Rate 9%
$816,711
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$918.8K – $1.23M
NOI $73,504 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$967.2K
$846.3K – $1.13M
NOI $67,705 @ 7.0% cap · market cap 6.16%
Theoretical Best
Specialty Retail
$2.47M
$2.16M – $2.89M
NOI $173,173 @ 7.0% cap · market cap 15.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,512
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit quadplex made up of two duplex buildings, all on one parcel with nonconforming T3-O zoning.
Where is this quadplex located?
The property is located at 1499 NW 32nd St Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four residential units across two duplex buildings; All units situated on one parcel and offered together; Nonconforming zoning classification T3‑O
