Little Havana Multifamily Investment
For Sale
$4,750,000
750 SW 2nd Street, Miami, FL 33130
Turnkey 12-unit multifamily property in Little Havana, built in 2021.
Property Size14,624 SF
Price / SF$324.81
Days on Market150
Property Features for 750 SW 2nd Street
General Information
Standard status
Active
Size
14,624 SF
Property subtype
Commercial
Lease Term
[]
Building Details
Year Built
2021
Listing Agency:
Keller Williams Capital Realty
Listed By:
Jason Smith · License #0688165
(786) 326-8115
Source:
Onesothebysrealty
Added: Apr 24
Changed: Sep 18
Last Checked: Sep 20 at 8:54AM
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 Keller Williams Capital Realty
Investment Insights
Based on property information with market context.
This turnkey 12-unit multifamily property, constructed in 2021, is situated in Little Havana, offering convenient access to Brickell and Downtown Miami. The unit mix comprises eight 2-bedroom, 1-bathroom units and four 1-bedroom, 1-bathroom units, each equipped with an in-unit washer and dryer. Tenants are responsible for all utility payments, contributing to lower operating expenses. The property benefits from stable in-place rents and minimal deferred maintenance. Located in a high-demand submarket, the property provides excellent access to major employment centers, transportation corridors, and urban amenities. The location has a bike score of 82, indicating it is very bikeable, a walk score of 98, designating it as a walker's paradise, and a transit score of 100, classifying it as a rider's paradise. This property presents a solid opportunity for investors seeking stable cash flow and long-term appreciation.
Key Highlights
- Built in 2021: Turnkey property with minimal deferred maintenance.
- Strong Unit Mix: Features eight 2BR/1BA and four 1BR/1BA units.
- In‑Unit Washer and Dryer: All units include this desirable amenity.
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
$270,155
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
5.69%
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%
$5,403,100
$5.4M
Cap Rate 7%
$3,859,357
$3.9M
Cap Rate 9%
$3,001,722
$3.0M
Market Conditions
NOI Build-Up for 14,624 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
$526.5K $36.00/SF
− Vacancy
−$35.3K −$2.41/SF
EGI
$491.2K $33.59/SF
− OpEx
−$221.0K −$15.11/SF
NOI
$270.2K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$5,403,100
Cap Rate 7%
$3,859,357
Cap Rate 9%
$3,001,722
Alternative Uses
Best Use
Apartment 5plus
$3.86M
$3.38M – $4.50M
NOI $270,155 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.87M
$8.64M – $11.52M
NOI $690,991 @ 7.0% cap · market cap 14.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,110
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
Check the figures for this property
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?
Apartment building - Turnkey 12-unit multifamily property in Little Havana, built in 2021.
Where is this apartment building located?
The property is located at 750 SW 2nd Street Miami, FL.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Built in 2021: Turnkey property with minimal deferred maintenance.; Strong Unit Mix: Features eight 2BR/1BA and four 1BR/1BA units.; In‑Unit Washer and Dryer: All units include this desirable amenity.
