Duplex Near the
For Sale
$515,000
1325 Normandy Drive, Miami Beach, FL 33141
Tenant-occupied duplex requiring advance authorization for property access and buyer due diligence.
Property Size1,534 SF
Price / SF$335.72
Days on Market165
Property Features for 1325 Normandy Drive
General Information
Standard status
Active
Size
1,534 SF
Property subtype
Multi-Family Income / Duplex
Property Condition
Severity
Repairs Needed
Evidence
needs TLC
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,627
Building Details
Year Built
1938
Buildings
1
Listing Agency:
La Rosa Realty Kendall, LLC.
(305) 731-2263
Listed By:
Anthony Astolfi · License #3425451
(305) 731-2263
Source:
Compass
Added: Mar 21
Changed: Aug 30
Last Checked: Aug 31 at 10:03PM
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 La Rosa Realty Kendall, LLC.
Investment Insights
Based on property information with market context.
Built in 1938, this duplex contains 1,534 SF and is located at 1325 Normandy Drive in Miami Beach. The property is approximately five minutes from the beach and requires renovation or repair work.
Tenants are present, and access must be coordinated in advance with the listing agent. A dangerous dog is reported on the premises, making unauthorized entry unsafe. Buyers are responsible for independently verifying the property’s condition, dimensions, zoning, use, permits, liens, and code status before closing.
Tenants are present, and access must be coordinated in advance with the listing agent. A dangerous dog is reported on the premises, making unauthorized entry unsafe. Buyers are responsible for independently verifying the property’s condition, dimensions, zoning, use, permits, liens, and code status before closing.
Key Highlights
- Duplex with 1,534 SF of building area
- Built in 1938
- Approximately 5 minutes from the beach
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
$25,571
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
4.97%
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%
$511,420
$511.4K
Cap Rate 7%
$365,300
$365.3K
Cap Rate 9%
$284,122
$284.1K
Market Conditions
NOI Build-Up for 1,534 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
$38.7K $25.20/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$36.5K $23.81/SF
− OpEx
−$11.0K −$7.14/SF
NOI
$25.6K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$511,420
Cap Rate 7%
$365,300
Cap Rate 9%
$284,122
Alternative Uses
Best Use
Multifamily LT 5
$365.3K
$319.6K – $426.2K
NOI $25,571 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$337.0K
$294.9K – $393.2K
NOI $23,592 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$778.3K
$681.0K – $908.0K
NOI $54,478 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,757
Businesses Nearby
Explore this area
Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
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 - Tenant-occupied duplex requiring advance authorization for property access and buyer due diligence.
Where is this duplex located?
The property is located at 1325 Normandy Drive Miami Beach, FL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Duplex with 1,534 SF of building area; Built in 1938; Approximately 5 minutes from the beach
