Triplex With Impact
For Sale
$950,000
2168 NW 28 Street, Miami, FL 33142
Residential Income, Miami, FL
Property Size2,822 SF
Price / SF$336.64
Days on Market205
Property Features for 2168 NW 28 Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
3900
Bedrooms
11
Full bathrooms
5
Rooms
Bedroom 11, Bathroom 2, Bedroom 6, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 7, Bedroom 4, Bedroom 10, Bedroom 9, Bathroom 5, Bedroom 5, Bedroom 3, Bedroom 8, Bedroom 2
Subdivision
Dankwardts Sub
Directions
USE GPS FOR BEST RESULTS.
Standard status
Active
APN
0131270440030
Size
2,822 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
DANKWARDTS SUB AMD PL PB 16-20 LOT 3 LESS N10FT & E10FT LOTS 4 TO 6 LESS N10FT OF E10FT LOT 4 & N2FT OF E12FT OF LOT 8 & N2FT OF W38FT OF LO
Tax Annual Amount
15900
Legal Description
DANKWARDTS SUB AMD PL PB 16-20 LOT 3 LESS N10FT & E10FT LOTS 4 TO 6 LESS N10FT OF E10FT LOT 4 & N2FT OF E12FT OF LOT 8 & N2FT OF W38FT OF LO
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
1936
Floors in Building
2
Number of units
3
Flooring type
Tile
Building materials
Block
Roof type
Shingle, Composition
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Lisa Feltrinelli · License #3231741
(954) 553-5546
Added: Feb 5
Changed: Aug 29
Last Checked: Aug 29 at 9:06PM
MLS# F10549298
Copyright © 2026 BeachesMLS. 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.
This Miami triplex contains 2,822 square feet across three residential units. The configuration includes one five-bedroom, three-bath unit arranged as a four-bedroom, two-bath residence with a studio, plus two three-bedroom, one-bath units. The property was built in 1936 with block construction, tile flooring, central air conditioning, electric heating, and public sewer service.
Impact windows were installed in December 2023, and the roof dates to 2009 with asphalt shingle and roll-up construction. The property is near Wynwood and the Miami Design District, with access to Miami International Airport, I-95, and SR 836. Major employment centers and retail are also located nearby. Showings are by appointment only, and tenants are not to be disturbed.
Impact windows were installed in December 2023, and the roof dates to 2009 with asphalt shingle and roll-up construction. The property is near Wynwood and the Miami Design District, with access to Miami International Airport, I-95, and SR 836. Major employment centers and retail are also located nearby. Showings are by appointment only, and tenants are not to be disturbed.
Key Highlights
- Three‑unit property totaling 2,822 square feet
- Unit mix includes one 5BD/3BA configuration and two 3BD/1BA units
- Impact windows installed December 2023
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
$56,597
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
5.96%
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%
$1,131,940
$1.1M
Cap Rate 7%
$808,529
$808.5K
Cap Rate 9%
$628,856
$628.9K
Market Conditions
NOI Build-Up for 2,822 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
$86.4K $30.60/SF
− Vacancy
−$5.5K −$1.95/SF
EGI
$80.9K $28.65/SF
− OpEx
−$24.3K −$8.60/SF
NOI
$56.6K $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%
$1,131,940
Cap Rate 7%
$808,529
Cap Rate 9%
$628,856
Alternative Uses
Best Use
Multifamily LT 5
$808.5K
$707.5K – $943.3K
NOI $56,597 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$744.7K
$651.7K – $868.9K
NOI $52,132 @ 7.0% cap · market cap 5.49%
Theoretical Best
Specialty Retail
$1.90M
$1.67M – $2.22M
NOI $133,341 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,965
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential income property with updated windows, central systems, and proximity to Wynwood and the Miami Design District.
Where is this triplex located?
The property is located at 2168 NW 28 Street Miami, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three‑unit property totaling 2,822 square feet; Unit mix includes one 5BD/3BA configuration and two 3BD/1BA units; Impact windows installed December 2023
