Duplex with Two Unit
For Sale
Contact for pricing
1239 SW 22nd Ave, Miami, FL 33135
Two residential units offer separate layouts suited to rental occupancy or an owner-occupant arrangement.
Property Size2,726 SF
Price / SF$330.15
Days on Market151
Property Features for 1239 SW 22nd Ave
General Information
Standard status
Active
Size
2,726 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
5700
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1975
Listing Agency:
Able CRE
(786) 303-8559
Listed By:
Isael Prieto · License #3216944
Source:
Crexi
Added: Apr 4
Changed: Aug 30
Last Checked: Sep 1 at 3:31AM
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 Able CRE
Investment Insights
Based on property information with market context.
This duplex contains two distinct residential units within a 2726-square-foot property. One unit includes three bedrooms and two bathrooms, while the second provides two bedrooms and one bathroom. The differing layouts support multiple occupancy arrangements, including an owner-occupant setup with a separate rental unit. The property was built in 1975 and carries zoning designation 5700.
The property is located in Miami, Florida, with access to major highways and shopping areas. Its configuration provides two residential spaces in one asset, with the larger unit offering a three-bedroom layout and the smaller unit providing a two-bedroom plan.
The property is located in Miami, Florida, with access to major highways and shopping areas. Its configuration provides two residential spaces in one asset, with the larger unit offering a three-bedroom layout and the smaller unit providing a two-bedroom plan.
Key Highlights
- Two‑unit duplex with 3‑bedroom/2‑bathroom and 2‑bedroom/1‑bathroom layouts
- 2726 property size
- Built in 1975
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
$54,671
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
6.07%
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%
$1,093,420
$1.1M
Cap Rate 7%
$781,014
$781.0K
Cap Rate 9%
$607,456
$607.5K
Market Conditions
NOI Build-Up for 2,726 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
$83.4K $30.60/SF
− Vacancy
−$5.3K −$1.95/SF
EGI
$78.1K $28.65/SF
− OpEx
−$23.4K −$8.60/SF
NOI
$54.7K $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%
$1,093,420
Cap Rate 7%
$781,014
Cap Rate 9%
$607,456
Alternative Uses
Best Use
Multifamily LT 5
$781.0K
$683.4K – $911.2K
NOI $54,671 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$719.4K
$629.5K – $839.3K
NOI $50,358 @ 7.0% cap · market cap 5.60%
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.15M
NOI $128,805 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,830
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 - Two residential units offer separate layouts suited to rental occupancy or an owner-occupant arrangement.
Where is this duplex located?
The property is located at 1239 SW 22nd Ave Miami, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom/2‑bathroom and 2‑bedroom/1‑bathroom layouts; 2726 property size; Built in 1975
