West Miami Turnkey Triplex
For Sale
$998,000
7225 SW 21st Street, Miami, FL 33155
Fully rented triplex near West Miami and Westchester.
Property Size2,490 SF
Days on Market500
Property Features for 7225 SW 21st Street
General Information
Standard status
Active
Size
2,490 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$9,356
Building Details
Building Size
2,490 SF
Year Built
1957
Listing Agency:
Coldwell Banker Realty
(786) 395-7611
Listed By:
Danya Chanouha · License #3403626
(786) 395-7611
Source:
Silverleafrealtygroup
Added: Apr 18, 2025
Changed: Aug 25
Last Checked: Aug 29 at 4:14PM
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 fully rented triplex is located on the border of West Miami and Westchester, providing access to shopping, dining, and major highways. Each of the three units features 2 bedrooms and 1 bathroom and is equipped with stainless steel appliances. A new roof was installed in April 2022, and impact windows have been added. The property is suitable for investors seeking reliable income and minimal maintenance.
Key Highlights
- Turnkey Triplex Investment Property: Fully rented with reliable income potential.
- Prime Location: Border of West Miami and Westchester, near shopping, dining, and major highways.
- Spacious Units: Each unit features 2 bedrooms and 1 bathroom.
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
$49,938
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
5.00%
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%
$998,760
$998.8K
Cap Rate 7%
$713,400
$713.4K
Cap Rate 9%
$554,867
$554.9K
Market Conditions
NOI Build-Up for 2,490 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
$76.2K $30.60/SF
− Vacancy
−$4.9K −$1.95/SF
EGI
$71.3K $28.65/SF
− OpEx
−$21.4K −$8.60/SF
NOI
$49.9K $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%
$998,760
Cap Rate 7%
$713,400
Cap Rate 9%
$554,867
Alternative Uses
Best Use
Multifamily LT 5
$713.4K
$624.2K – $832.3K
NOI $49,938 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$657.1K
$575.0K – $766.7K
NOI $45,999 @ 7.0% cap · market cap 4.61%
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,654 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,542
Businesses Nearby
Explore this area
Business Placement
Demographics for 33155, FL
43,695
Population
16,046
Households
2.7
Avg Household Size
45
Median Age
37%
College-Educated
85%
High-School Grad
7.4 sq mi
ZIP Area
5,905
Density / Sq Mi
$79,271
Median Household Income
$41,919
Median Earnings
$1,871
Median Rent
$505,000
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 - Fully rented triplex near West Miami and Westchester.
Where is this triplex located?
The property is located at 7225 SW 21st Street Miami, FL.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Turnkey Triplex Investment Property: Fully rented with reliable income potential.; Prime Location: Border of West Miami and Westchester, near shopping, dining, and major highways.; Spacious Units: Each unit features 2 bedrooms and 1 bathroom.
