Four-Unit
For Sale
$960,000
1277 NW 58th St, Miami, FL 33142
Fully leased property near public transit, schools, and shopping.
Property Size3,024 SF
Days on Market44
Property Features for 1277 NW 58th St
General Information
Standard status
Active
Size
3,024 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,679
Building Details
Building Size
3,024 SF
Year Built
1958
Stories
2
Listing Agency:
Veissi & Associates, Inc.
(305) 903-1667
Listed By:
Georgette Veissi · License #3338248
(305) 903-1667
Source:
Elliman
Added: Jul 18
Changed: Aug 29
Last Checked: Jul 17 at 4:53PM
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 Veissi & Associates, Inc.
Investment Insights
Based on property information with market context.
This quadplex contains four units within 3024 square feet of property. All units are currently rented, providing an existing leased configuration for the next owner. The building was constructed in 1958 and carries zoning designation 3901.
Located at 1277 NW 58th St in Miami, the property is near public transit, schools, and shopping. Showings are available by appointment with 24–48 hours’ notice.
Located at 1277 NW 58th St in Miami, the property is near public transit, schools, and shopping. Showings are available by appointment with 24–48 hours’ notice.
Key Highlights
- Four‑unit quadplex with all units rented
- 3024 SF property
- Constructed in 1958
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
$60,648
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
6.32%
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%
$1,212,960
$1.2M
Cap Rate 7%
$866,400
$866.4K
Cap Rate 9%
$673,867
$673.9K
Market Conditions
NOI Build-Up for 3,024 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
$92.5K $30.60/SF
− Vacancy
−$5.9K −$1.95/SF
EGI
$86.6K $28.65/SF
− OpEx
−$26.0K −$8.60/SF
NOI
$60.6K $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%
$1,212,960
Cap Rate 7%
$866,400
Cap Rate 9%
$673,867
Alternative Uses
Best Use
Multifamily LT 5
$866.4K
$758.1K – $1.01M
NOI $60,648 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$798.1K
$698.3K – $931.1K
NOI $55,864 @ 7.0% cap · market cap 5.82%
Theoretical Best
Specialty Retail
$2.04M
$1.79M – $2.38M
NOI $142,885 @ 7.0% cap · market cap 14.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,413
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased property near public transit, schools, and shopping.
Where is this quadplex located?
The property is located at 1277 NW 58th St Miami, FL.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Four‑unit quadplex with all units rented; 3024 SF property; Constructed in 1958
