Triplex with Detached
For Sale
$780,000
Pending
2385 SW 17th St, Miami, FL 33145
MULTI_FAMILY - Miami, FL
Property Size2,306 SF
Days on Market32
Property Features for 2385 SW 17th St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
0100
Bedrooms
5
Full bathrooms
5
Rooms
Bathroom 3, Bedroom 5, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 5, Bathroom 4, Bathroom 1, Bedroom 4
Parking
6
Subdivision
VEDADO
Lot features
< 1/4 Acre
Special listing conditions
Short Sale
Standard status
Pending
APN
01-41-10-027-0500
Size
2,306 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
VEDADO PB 10-19 LOT 14 LOT 14A BLK 3 AND S3FT OF LOT 11 LOT SIZE 50.000 X 112 COC 26162-2299 02/08 /26202-0983
Tax Annual Amount
11281
Legal Description
VEDADO PB 10-19 LOT 14 LOT 14A BLK 3 AND S3FT OF LOT 11 LOT SIZE 50.000 X 112 COC 26162-2299 02/08 /26202-0983
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1930
Floors in Building
2
Flooring type
Vinyl, Tile
Building materials
Block, Frame, Stucco
Listing Agency:
Compass Florida, LLC
(305) 697-5402
Listed By:
Eric Farmelant · License #3290089
(954) 850-3905
Added: Jul 18
Changed: Aug 18
Last Checked: Aug 18 at 8:06PM
MLS# A11905132
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.
This triplex includes a main structure with two spacious 2 bed/2 bath units and a detached 1 bed cottage. One of the 2 bed/2 bath units is renovated and rented annually, while the other 2 bed/2 bath unit has been gutted and is awaiting a full remodel. The detached cottage is rented annually.
The building was constructed in 1930 with block, frame, and stucco materials. Interior finishes include tile and vinyl flooring. Heating is provided by wall furnaces, with window unit(s) and wall/window unit(s) for cooling. Utilities include cable availability, and the property connects to public sewer.
The roof is approximately 5 years old. The buyer will be responsible for curing a CITY VIOLATION and any associated fines, and architectural plans for the cure will be provided. Property size is 2,306 square feet.
The building was constructed in 1930 with block, frame, and stucco materials. Interior finishes include tile and vinyl flooring. Heating is provided by wall furnaces, with window unit(s) and wall/window unit(s) for cooling. Utilities include cable availability, and the property connects to public sewer.
The roof is approximately 5 years old. The buyer will be responsible for curing a CITY VIOLATION and any associated fines, and architectural plans for the cure will be provided. Property size is 2,306 square feet.
Key Highlights
- Main structure with two 2 bed/2 bath units plus a detached 1 bed cottage
- One 2 bed/2 bath unit renovated and rented annually; other gutted awaiting full remodel
- Roof is approximately 5 years old
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
$46,248
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
5.93%
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%
$924,960
$925.0K
Cap Rate 7%
$660,686
$660.7K
Cap Rate 9%
$513,867
$513.9K
Market Conditions
NOI Build-Up for 2,306 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
$70.6K $30.60/SF
− Vacancy
−$4.5K −$1.95/SF
EGI
$66.1K $28.65/SF
− OpEx
−$19.8K −$8.60/SF
NOI
$46.2K $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%
$924,960
Cap Rate 7%
$660,686
Cap Rate 9%
$513,867
Alternative Uses
Best Use
Multifamily LT 5
$660.7K
$578.1K – $770.8K
NOI $46,248 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$608.6K
$532.5K – $710.0K
NOI $42,600 @ 7.0% cap · market cap 5.46%
Theoretical Best
Specialty Retail
$1.56M
$1.36M – $1.82M
NOI $108,960 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,415
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
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 - Triplex with two 2 bed/2 bath units and a detached 1 bed cottage, plus a roof about 5 years old.
Where is this triplex located?
The property is located at 2385 SW 17th St Miami, FL.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Main structure with two 2 bed/2 bath units plus a detached 1 bed cottage; One 2 bed/2 bath unit renovated and rented annually; other gutted awaiting full remodel; Roof is approximately 5 years old
