Recertified Fourplex with T5-O
For Sale
$1,995,000
1345 SW 7th ST, Miami, FL 33135
Four 2-bedroom, 1-bath units with assigned parking and T5-O zoning for up to five-story development.
Property Size3,592 SF
Days on Market58
Property Features for 1345 SW 7th ST
General Information
Standard status
Active
Size
3,592 SF
Total Parking Spaces
5
Property subtype
Investment
Zoning
T5-O
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,268
Building Details
Building Size
3,592 SF
Year Built
1946
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Mari Real Estate & Management Group, Inc
(305) 345-1024
Listed By:
Karen Mari · License #3157769
(305) 345-1024
Source:
Elliman
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 12 at 7:32AM
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 Mari Real Estate & Management Group, Inc
Investment Insights
Based on property information with market context.
This fully recertified fourplex features four 2-bedroom, 1-bath units, each currently on month-to-month leases. The property has been upgraded with new underground plumbing, and it also includes separate electric and water meters. Exterior and site improvements include 4 assigned parking spaces plus 1 ADA space, supporting convenient daily use for tenants and guests. The roof is approximately 8 years old, providing additional near-term durability.
The asset is positioned in Miami along an east-west corridor near prominent recreational and cultural destinations, described as steps from Calle Ocho and José Martí Park. It is also noted as minutes to Brickell, Downtown Miami, I-95, and SR-836. Walk, bike, and transit scores are listed as 97 (walk), 83 (bike), and 99 (transit), indicating strong multimodal accessibility.
From an ownership standpoint, the property offers current rental income from a recertified 4-unit configuration while also benefiting from flexible T5-O zoning. The zoning is described as permitting development up to 5 stories and potential for mixed-use, including residential, retail, or short-term rentals, which may appeal to investors and owner-occupants looking to position for redevelopment in a high-demand area.
The asset is positioned in Miami along an east-west corridor near prominent recreational and cultural destinations, described as steps from Calle Ocho and José Martí Park. It is also noted as minutes to Brickell, Downtown Miami, I-95, and SR-836. Walk, bike, and transit scores are listed as 97 (walk), 83 (bike), and 99 (transit), indicating strong multimodal accessibility.
From an ownership standpoint, the property offers current rental income from a recertified 4-unit configuration while also benefiting from flexible T5-O zoning. The zoning is described as permitting development up to 5 stories and potential for mixed-use, including residential, retail, or short-term rentals, which may appeal to investors and owner-occupants looking to position for redevelopment in a high-demand area.
Key Highlights
- Fully recertified fourplex built in 1946 with four 2BD/1BA units
- T5‑O zoning allows development up to 5 stories with potential mixed‑use options
- Separate electric and water meters and newly installed underground plumbing
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
$72,040
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
3.61%
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%
$1,440,800
$1.4M
Cap Rate 7%
$1,029,143
$1.0M
Cap Rate 9%
$800,444
$800.4K
Market Conditions
NOI Build-Up for 3,592 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
$109.9K $30.60/SF
− Vacancy
−$7.0K −$1.95/SF
EGI
$102.9K $28.65/SF
− OpEx
−$30.9K −$8.60/SF
NOI
$72.0K $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%
$1,440,800
Cap Rate 7%
$1,029,143
Cap Rate 9%
$800,444
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$900.5K – $1.20M
NOI $72,040 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$947.9K
$829.5K – $1.11M
NOI $66,356 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$2.42M
$2.12M – $2.83M
NOI $169,724 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,618
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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?
Quadplex - Four 2-bedroom, 1-bath units with assigned parking and T5-O zoning for up to five-story development.
Where is this quadplex located?
The property is located at 1345 SW 7th ST Miami, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Fully recertified fourplex built in 1946 with four 2BD/1BA units; T5‑O zoning allows development up to 5 stories with potential mixed‑use options; Separate electric and water meters and newly installed underground plumbing
