Renovated Fourplex with Interior
New
For Sale
$1,550,000
1459 NW 2nd Street, Miami, FL 33125
Concrete-and-CMU construction with updated interiors, controlled entry, and in-unit laundry across four residential units.
Property Size4,280 SF
Price / SF$466.87
Days on Market2
Property Features for 1459 NW 2nd Street
General Information
Standard status
Active
Size
4,280 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
6107
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$20,062
Amenities
impact-rated doors & windows
key-card & code entry
washer and dryer inside unit
newer kitchen, cabinets, floor
Wifi internet included
interior parking
individual water and power meters
Building Details
Building Size
4,280 SF
Year Built
1984
Stories
2
Construction
concrete and CMU
Listing Agency:
Carlton International
Listed By:
Bruno Piotrowski · License #3215399
(305) 771-9428
Source:
Laerrealty
Added: Sep 5
Last Checked: Sep 5 at 2:55PM
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 Carlton International
Investment Insights
Based on property information with market context.
This fourplex contains 3,320 square feet and was built in 1984. The recently renovated property uses concrete and CMU construction, with impact-rated doors and windows. Each unit includes a newer kitchen, updated cabinetry and flooring, interior washer and dryer connections, and access through key-card or coded entry. WiFi internet is included, while water and power are separately metered for each unit.
The property includes interior parking and is located one block from Marlin Park Stadium at 1459 NW 2nd Street in Miami. The asset is identified with zoning code 6107 and is positioned for residential rental use, including the short- and long-term formats described in the property information.
The property includes interior parking and is located one block from Marlin Park Stadium at 1459 NW 2nd Street in Miami. The asset is identified with zoning code 6107 and is positioned for residential rental use, including the short- and long-term formats described in the property information.
Key Highlights
- Fourplex with 3,320 SF of building area
- Recently renovated interiors with newer kitchens, cabinetry, and flooring
- Concrete and CMU construction with impact‑rated doors and windows
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
$66,584
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
4.30%
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%
$1,331,680
$1.3M
Cap Rate 7%
$951,200
$951.2K
Cap Rate 9%
$739,822
$739.8K
Market Conditions
NOI Build-Up for 3,320 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
$101.6K $30.60/SF
− Vacancy
−$6.5K −$1.95/SF
EGI
$95.1K $28.65/SF
− OpEx
−$28.5K −$8.60/SF
NOI
$66.6K $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%
$1,331,680
Cap Rate 7%
$951,200
Cap Rate 9%
$739,822
Alternative Uses
Best Use
Multifamily LT 5
$951.2K
$832.3K – $1.11M
NOI $66,584 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$876.2K
$766.7K – $1.02M
NOI $61,332 @ 7.0% cap · market cap 3.96%
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,871 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,802
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Concrete-and-CMU construction with updated interiors, controlled entry, and in-unit laundry across four residential units.
Where is this quadplex located?
The property is located at 1459 NW 2nd Street Miami, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Fourplex with 3,320 SF of building area; Recently renovated interiors with newer kitchens, cabinetry, and flooring; Concrete and CMU construction with impact‑rated doors and windows
