Two-Unit Duplex
New
For Sale
$1,150,000
346 -350 Alesio Ave, Coral Gables, FL 33134
MULTI_FAMILY - Coral Gables, FL
Property Size2,159 SF
Price / SF$532.65
Days on Market2
Property Features for 346 -350 Alesio Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5900
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Parking
5
Security features
Security
Exterior features
Storm/Security Shutters
Subdivision
COCONUT GROVE SEC 1-CORAL
Lot features
1/4 to 1/2 Acre Lot
Directions
Located on the corner of LeJeune Road and Alesio Avenue
Standard status
Active
APN
03-41-17-007-3080
Size
2,159 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
COCONUT GROVE SEC 1-CORAL GABLES PB 14-25 LOTS 1 THRU 4 BLK 24 LOT SIZE IRREGULAR OR 18891-0864 1199 1 COC 26242-0341 02 2008 5
Tax Annual Amount
20685
Legal Description
COCONUT GROVE SEC 1-CORAL GABLES PB 14-25 LOTS 1 THRU 4 BLK 24 LOT SIZE IRREGULAR OR 18891-0864 1199 1 COC 26242-0341 02 2008 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Building Details
Year built
1956
Floors in Building
1
Flooring type
Vinyl
Building materials
Block
Roof type
Barrel
Listing Agency:
Sunlife Realtors
(305) 777-0320
Listed By:
Milton Knight · License #0663675
(786) 380-5260
Added: Aug 7
Last Checked: Aug 8 at 10:06PM
MLS# A12066488
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 2,159-square-foot duplex contains two separate residences, each arranged with 2 bedrooms and 1 bathroom. The property was built in 1956 with block construction, vinyl flooring, central heating, central air, ceiling fans, and a barrel roof. Storm and security shutters provide an additional exterior feature, while public sewer and cable availability serve the property.
Located in Coral Gables, the duplex is near shopping, dining, parks, schools, and major highways. The property is fully leased with established tenants in place, offering an existing two-unit residential configuration at 346–350 Alesio Ave.
Located in Coral Gables, the duplex is near shopping, dining, parks, schools, and major highways. The property is fully leased with established tenants in place, offering an existing two-unit residential configuration at 346–350 Alesio Ave.
Key Highlights
- Two‑unit duplex with 2,159 SF of building area
- Each unit includes 2 bedrooms and 1 bathroom
- Fully leased with established tenants in place
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
$35,990
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
3.13%
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%
$719,800
$719.8K
Cap Rate 7%
$514,143
$514.1K
Cap Rate 9%
$399,889
$399.9K
Market Conditions
NOI Build-Up for 2,159 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
$54.4K $25.20/SF
− Vacancy
−$3.0K −$1.39/SF
EGI
$51.4K $23.81/SF
− OpEx
−$15.4K −$7.14/SF
NOI
$36.0K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$719,800
Cap Rate 7%
$514,143
Cap Rate 9%
$399,889
Alternative Uses
Best Use
Multifamily LT 5
$514.1K
$449.9K – $599.8K
NOI $35,990 @ 7.0% cap · market cap 3.13%
Second Best
Apartment 5plus
$474.3K
$415.1K – $553.4K
NOI $33,204 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$1.10M
$958.4K – $1.28M
NOI $76,675 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
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?
Duplex - Fully leased income property with central heating and cooling in Coral Gables.
Where is this duplex located?
The property is located at 346 -350 Alesio Ave Coral Gables, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,159 SF of building area; Each unit includes 2 bedrooms and 1 bathroom; Fully leased with established tenants in place
