Two-Story
For Sale
$3,990,000
36 NE 65th St, Miami, FL 33138
Residential Income, Miami, FL
Property Size15,996 SF
Price / SF$249.44
Days on Market117
Property Features for 36 NE 65th St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
3900
Parking
20
Subdivision
LIBERTY PK AMD PL 1ST ADD
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
01-31-13-019-0210
Size
15,996 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
13 53 41 LIBERTY PK AMD PL 1ST ADD PB 6-86 LOTS 53-54-67 & 68 LOT SIZE IRREGULAR OR 21176-1515 04 2003 (3) COC 21852-2039 09 2003 1
Tax Annual Amount
70741
Legal Description
13 53 41 LIBERTY PK AMD PL 1ST ADD PB 6-86 LOTS 53-54-67 & 68 LOT SIZE IRREGULAR OR 21176-1515 04 2003 (3) COC 21852-2039 09 2003 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1922
Floors in Building
2
Flooring type
Vinyl
Building materials
Block
Roof type
Flat
Architectural style
Other
Listing Agency:
Compass Florida, LLC
(305) 851-2820
Listed By:
Arthur Porosoff · License #3160379
(305) 209-8866
Added: May 6
Changed: Aug 20
Last Checked: Aug 30 at 3:06PM
MLS# A11945698
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 two-story quadplex contains 15,996 square feet and was built in 1922. The structure uses block construction with vinyl flooring, central heating, central air, a flat roof, and public sewer service. Cable is available at the property.
Located east of North Miami Avenue in Miami’s Little Haiti area, the property is near the Miami Design District, Wynwood, and Midtown. These nearby districts provide access to employment centers, retail, and cultural amenities. The asset is offered for sale and combines a residential multifamily configuration with established building systems and neighborhood proximity to several prominent Miami submarkets.
Located east of North Miami Avenue in Miami’s Little Haiti area, the property is near the Miami Design District, Wynwood, and Midtown. These nearby districts provide access to employment centers, retail, and cultural amenities. The asset is offered for sale and combines a residential multifamily configuration with established building systems and neighborhood proximity to several prominent Miami submarkets.
Key Highlights
- Quadplex with two‑story configuration and 15,996 square feet
- Built in 1922 with block construction
- Central heating and central air
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
$320,809
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
8.04%
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%
$6,416,180
$6.4M
Cap Rate 7%
$4,582,986
$4.6M
Cap Rate 9%
$3,564,544
$3.6M
Market Conditions
NOI Build-Up for 15,996 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
$489.5K $30.60/SF
− Vacancy
−$31.2K −$1.95/SF
EGI
$458.3K $28.65/SF
− OpEx
−$137.5K −$8.60/SF
NOI
$320.8K $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%
$6,416,180
Cap Rate 7%
$4,582,986
Cap Rate 9%
$3,564,544
Alternative Uses
Best Use
Multifamily LT 5
$4.58M
$4.01M – $5.35M
NOI $320,809 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$4.22M
$3.69M – $4.93M
NOI $295,501 @ 7.0% cap · market cap 7.41%
Theoretical Best
Specialty Retail
$10.80M
$9.45M – $12.60M
NOI $755,818 @ 7.0% cap · market cap 18.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,270
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
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?
Quadplex - Multifamily property with central heating, central air, public sewer, and cable availability.
Where is this quadplex located?
The property is located at 36 NE 65th St Miami, FL.
What is the asking price?
The asking price for this property is $3,990,000.
What are key features of this property?
This property features: Quadplex with two‑story configuration and 15,996 square feet; Built in 1922 with block construction; Central heating and central air
