Updated Duplex with T3-O
New
For Sale
$1,059,000
1010 SW 8th Ave, Miami, FL 33130
Updated duplex with flexible living arrangements and a separate rear unit for rental use.
Property Size1,501 SF
Lot Size0.23 Acres
Days on Market5
Property Features for 1010 SW 8th Ave
General Information
Standard status
Active
Size
1,501 SF
Lot size
0.23 Acres
Property subtype
Duplex
Zoning
T3-O
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,833
Building Details
Building Size
1,501 SF
Year Built
1920
Listing Agency:
Coldwell Banker Realty
Listed By:
David Dajani · License #3362867
(305) 514-0100
Source:
Miamibrokersgroup
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 21 at 8:11AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This updated duplex sits on a 9,950-square-foot lot and includes a newer roof, plumbing, electrical systems, air-conditioning systems, kitchen, and bathrooms. The primary residence is arranged as a 3-bedroom, 2-bathroom home with flexibility for a 2/1 configuration plus a separate 1/1 area with kitchenette. A rear unit adds one bedroom, one bathroom, and a spacious kitchenette.
The property carries T3-O zoning in Miami’s West Brickell/The Roads area. Its existing layout supports immediate rental income, while the zoning and lot configuration are identified for consideration of two new townhomes. The property is also presented as suitable for short-term rental use. Showings are available by appointment only.
The property carries T3-O zoning in Miami’s West Brickell/The Roads area. Its existing layout supports immediate rental income, while the zoning and lot configuration are identified for consideration of two new townhomes. The property is also presented as suitable for short-term rental use. Showings are available by appointment only.
Key Highlights
- 9,950‑square‑foot lot with T3‑O zoning
- Updated roof, plumbing, electrical, A/C systems, kitchen, and bathrooms
- Primary residence offers 3 bedrooms and 2 bathrooms
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
$30,103
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
2.84%
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%
$602,060
$602.1K
Cap Rate 7%
$430,043
$430.0K
Cap Rate 9%
$334,478
$334.5K
Market Conditions
NOI Build-Up for 1,501 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
$45.9K $30.60/SF
− Vacancy
−$2.9K −$1.95/SF
EGI
$43.0K $28.65/SF
− OpEx
−$12.9K −$8.60/SF
NOI
$30.1K $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%
$602,060
Cap Rate 7%
$430,043
Cap Rate 9%
$334,478
Alternative Uses
Best Use
Multifamily LT 5
$430.0K
$376.3K – $501.7K
NOI $30,103 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$396.1K
$346.6K – $462.2K
NOI $27,729 @ 7.0% cap · market cap 2.62%
Theoretical Best
Specialty Retail
$1.01M
$886.5K – $1.18M
NOI $70,923 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,477
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex with flexible living arrangements and a separate rear unit for rental use.
Where is this duplex located?
The property is located at 1010 SW 8th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,059,000.
What are key features of this property?
This property features: 9,950‑square‑foot lot with T3‑O zoning; Updated roof, plumbing, electrical, A/C systems, kitchen, and bathrooms; Primary residence offers 3 bedrooms and 2 bathrooms
