Adjacent Duplex
For Sale
$1,425,000
470 Northwest 26th Avenue, Miami, FL 33125
Two neighboring duplex buildings are offered together, with zoning designated for general duplexes and 2–9 units.
Property Size2,135 SF
Lot Size0.32 Acres
Price / SF$667.45
Days on Market1042
Property Features for 470 Northwest 26th Avenue
General Information
Standard status
Active
Size
2,135 SF
Lot size
0.32 Acres
Property subtype
Residential Land/Boat Docks / Unimproved Land
Zoning
general duplexes 2-9 units
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,597
Building Details
Year Built
1962
Buildings
2
Listing Agency:
Beachfront Realty Inc
Listed By:
Jeffrey Stone · License #0605746
(305) 405-0615
Source:
Compass
Added: Oct 27, 2023
Changed: Sep 2
Last Checked: Aug 31 at 9:36PM
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 Beachfront Realty Inc
Investment Insights
Based on property information with market context.
This offering combines two adjoining duplex buildings in a single sale. The property includes 14,000 square feet of land, and the buildings were constructed in 1962. The package is intended to transfer both duplexes together rather than as separate offerings.
The property is located at 470 Northwest 26th Avenue in Miami, Florida 33125. Current zoning is identified as general duplexes 2–9 units. Tenant privacy should be respected during any drive-by review.
The property is located at 470 Northwest 26th Avenue in Miami, Florida 33125. Current zoning is identified as general duplexes 2–9 units. Tenant privacy should be respected during any drive-by review.
Key Highlights
- Two adjacent duplex buildings offered as one package
- 14,000 square feet of total land
- Current zoning: general duplexes 2–9 units
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
$42,819
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
3.00%
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%
$856,380
$856.4K
Cap Rate 7%
$611,700
$611.7K
Cap Rate 9%
$475,767
$475.8K
Market Conditions
NOI Build-Up for 2,135 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
$65.3K $30.60/SF
− Vacancy
−$4.2K −$1.95/SF
EGI
$61.2K $28.65/SF
− OpEx
−$18.4K −$8.60/SF
NOI
$42.8K $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%
$856,380
Cap Rate 7%
$611,700
Cap Rate 9%
$475,767
Alternative Uses
Best Use
Multifamily LT 5
$611.7K
$535.2K – $713.7K
NOI $42,819 @ 7.0% cap · market cap 3.00%
Second Best
Apartment 5plus
$563.4K
$493.0K – $657.4K
NOI $39,441 @ 7.0% cap · market cap 2.77%
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $100,880 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,327
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
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?
Duplex - Two neighboring duplex buildings are offered together, with zoning designated for general duplexes and 2–9 units.
Where is this duplex located?
The property is located at 470 Northwest 26th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Two adjacent duplex buildings offered as one package; 14,000 square feet of total land; Current zoning: general duplexes 2–9 units
