Duplex with Townhome
For Sale
$1,350,000
1010 Southwest 14th Avenue, Miami, FL 33135
Income-producing duplex with approved plans for two townhomes featuring rooftop terraces in central Miami.
Property Size2,600 SF
Price / SF$519.23
Days on Market172
Property Features for 1010 Southwest 14th Avenue
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi-Family Income / Duplex
Zoning
T3O
Taxes and HOA fees
Annual Taxes
$14,413
Building Details
Year Built
1976
Listing Agency:
Douglas Elliman
(305) 677-5000
Listed By:
Joseph Azar · License #3375463
(305) 677-5000
Source:
Compass
Added: Mar 13
Changed: Aug 29
Last Checked: Aug 31 at 12:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Douglas Elliman
Investment Insights
Based on property information with market context.
This 2,600 SF duplex residence, built in 1976, includes 5 bedrooms and 3 bathrooms. The property is currently producing rental income and offers an existing residential configuration alongside approved plans for two modern townhomes with rooftop terraces.
Zoned T3O, the property is located at 1010 Southwest 14th Avenue in Miami’s Little Havana area, bordering Shenandoah and The Roads. Brickell, Downtown Miami, Coral Gables, and major employment centers are identified as nearby destinations. Dining, cultural activity, and redevelopment are also present in the surrounding urban corridor.
Zoned T3O, the property is located at 1010 Southwest 14th Avenue in Miami’s Little Havana area, bordering Shenandoah and The Roads. Brickell, Downtown Miami, Coral Gables, and major employment centers are identified as nearby destinations. Dining, cultural activity, and redevelopment are also present in the surrounding urban corridor.
Key Highlights
- 2,600 SF duplex residence with 5 bedrooms and 3 bathrooms
- Built in 1976
- Currently generating rental income
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
$52,144
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
3.86%
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%
$1,042,880
$1.0M
Cap Rate 7%
$744,914
$744.9K
Cap Rate 9%
$579,378
$579.4K
Market Conditions
NOI Build-Up for 2,600 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
$79.6K $30.60/SF
− Vacancy
−$5.1K −$1.95/SF
EGI
$74.5K $28.65/SF
− OpEx
−$22.3K −$8.60/SF
NOI
$52.1K $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%
$1,042,880
Cap Rate 7%
$744,914
Cap Rate 9%
$579,378
Alternative Uses
Best Use
Multifamily LT 5
$744.9K
$651.8K – $869.1K
NOI $52,144 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$686.2K
$600.4K – $800.5K
NOI $48,031 @ 7.0% cap · market cap 3.56%
Theoretical Best
Specialty Retail
$1.76M
$1.54M – $2.05M
NOI $122,851 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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 - Income-producing duplex with approved plans for two townhomes featuring rooftop terraces in central Miami.
Where is this duplex located?
The property is located at 1010 Southwest 14th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 2,600 SF duplex residence with 5 bedrooms and 3 bathrooms; Built in 1976; Currently generating rental income
