Triplex With Detached
For Sale
$1,099,000
Pending
3741 SW 27th Ter, Miami, FL 33134
Three-unit residential property with central A/C, shared outdoor space, and a separate rear cottage.
Property Size2,090 SF
Days on Market171
Property Features for 3741 SW 27th Ter
General Information
Standard status
Pending
Size
2,090 SF
Property subtype
Investment
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$14,177
Amenities
yard
washer/dryer
Building Details
Building Size
2,090 SF
Year Built
1947
Buildings
2
Stories
2
Units
3
Listing Agency:
Miami Real Estate Company
(305) 972-7013
Listed By:
Berk Boge · License #0657334
(305) 972-7013
Source:
Elliman
Added: Mar 13
Changed: Aug 30
Last Checked: Apr 29 at 11:47AM
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 Miami Real Estate Company
Investment Insights
Based on property information with market context.
Built in 1947, this 2,090-square-foot triplex includes a two-story front structure with two 2-bedroom, 1-bathroom residences and a detached rear cottage containing a 1-bedroom unit. The front apartments feature eat-in kitchens, central A/C, and generously sized bedrooms, while the cottage offers an open-concept layout and private parking. A shared yard and full-size washer and dryer serve the property.
The property is located in Miami between Coral Gables and Coconut Grove, with access to public transportation, shopping, and dining in the surrounding area. Long-term tenants are currently in place, and the property information notes potential for rent increases in its existing condition as well as cosmetic updates.
The property is located in Miami between Coral Gables and Coconut Grove, with access to public transportation, shopping, and dining in the surrounding area. Long-term tenants are currently in place, and the property information notes potential for rent increases in its existing condition as well as cosmetic updates.
Key Highlights
- 2,090 SF triplex built in 1947
- Two 2‑bedroom/1‑bathroom units in the two‑story front building
- Detached rear cottage with a 1‑bedroom unit and open‑concept layout
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
$41,916
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
3.81%
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%
$838,320
$838.3K
Cap Rate 7%
$598,800
$598.8K
Cap Rate 9%
$465,733
$465.7K
Market Conditions
NOI Build-Up for 2,090 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
$64.0K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$59.9K $28.65/SF
− OpEx
−$18.0K −$8.60/SF
NOI
$41.9K $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%
$838,320
Cap Rate 7%
$598,800
Cap Rate 9%
$465,733
Alternative Uses
Best Use
Multifamily LT 5
$598.8K
$524.0K – $698.6K
NOI $41,916 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$551.6K
$482.6K – $643.5K
NOI $38,609 @ 7.0% cap · market cap 3.51%
Theoretical Best
Specialty Retail
$1.41M
$1.23M – $1.65M
NOI $98,753 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,249
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
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?
Triplex - Three-unit residential property with central A/C, shared outdoor space, and a separate rear cottage.
Where is this triplex located?
The property is located at 3741 SW 27th Ter Miami, FL.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 2,090 SF triplex built in 1947; Two 2‑bedroom/1‑bathroom units in the two‑story front building; Detached rear cottage with a 1‑bedroom unit and open‑concept layout
