Triplex with Five
For Sale
$775,000
2027 SW 58th Ave, Miami, FL 33155
Triplex configured into five leased units with multiple electric meters and designated parking.
Property Size3,208 SF
Days on Market102
Property Features for 2027 SW 58th Ave
General Information
Standard status
Active
Size
3,208 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$10,881
Building Details
Building Size
3,208 SF
Year Built
1925
Stories
1
Units
5
Listed By:
Sari Shapiro · License #SL3285291
(786) 423-5296
Source:
Elliman
Added: Jun 22
Changed: Sep 17
Last Checked: Oct 1 at 11:36AM
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 Sari Shapiro
Investment Insights
Based on property information with market context.
This property is configured as a triplex and divided into five separate units within approximately 3,208 square feet of living space. The building has 3 electric meters serving the units and includes 4 designated parking spots. All units are leased to long-term, month-to-month tenants, with total rent currently reported at $5,900 per month.
Located next to West Miami, the property is described as just blocks from Coral Gables and Schenley Park, with Nicklaus Children’s Hospital nearby. Public transportation and shopping and dining are also reported in the immediate area.
For investors or owner-operators seeking a multi-unit rental with in-place tenancy, the five-unit configuration and current month-to-month leasing profile can appeal to buyers looking to manage an occupied income stream. The separate metering and designated parking support straightforward utility and tenant logistics for the property’s current setup.
Located next to West Miami, the property is described as just blocks from Coral Gables and Schenley Park, with Nicklaus Children’s Hospital nearby. Public transportation and shopping and dining are also reported in the immediate area.
For investors or owner-operators seeking a multi-unit rental with in-place tenancy, the five-unit configuration and current month-to-month leasing profile can appeal to buyers looking to manage an occupied income stream. The separate metering and designated parking support straightforward utility and tenant logistics for the property’s current setup.
Key Highlights
- 1925‑built 3,208 living SF triplex divided into 5 leased units
- 3 electric meters serving the property’s 5 units
- 4 designated parking spots for tenants
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
$64,338
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
8.30%
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%
$1,286,760
$1.3M
Cap Rate 7%
$919,114
$919.1K
Cap Rate 9%
$714,867
$714.9K
Market Conditions
NOI Build-Up for 3,208 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
$98.2K $30.60/SF
− Vacancy
−$6.3K −$1.95/SF
EGI
$91.9K $28.65/SF
− OpEx
−$27.6K −$8.60/SF
NOI
$64.3K $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%
$1,286,760
Cap Rate 7%
$919,114
Cap Rate 9%
$714,867
Alternative Uses
Best Use
Multifamily LT 5
$919.1K
$804.2K – $1.07M
NOI $64,338 @ 7.0% cap · market cap 8.30%
Second Best
Apartment 5plus
$846.6K
$740.8K – $987.7K
NOI $59,263 @ 7.0% cap · market cap 7.65%
Theoretical Best
Specialty Retail
$2.17M
$1.89M – $2.53M
NOI $151,579 @ 7.0% cap · market cap 19.56%
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
538
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
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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?
Triplex - Triplex configured into five leased units with multiple electric meters and designated parking.
Where is this triplex located?
The property is located at 2027 SW 58th Ave Miami, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 1925‑built 3,208 living SF triplex divided into 5 leased units; 3 electric meters serving the property’s 5 units; 4 designated parking spots for tenants
