Fourplex Multifamily
For Sale
$1,550,000
1459 NW 2nd St, Miami, FL 33125
Four residential units provide a compact multifamily configuration in Miami.
Property Size4,280 SF
Price / SF$466.87
Days on Market31
Property Features for 1459 NW 2nd St
General Information
Standard status
Active
Size
4,280 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
6107
Taxes and HOA fees
Annual Taxes
$20,062
Amenities
Central Air
Central
Fourplex
Building Details
Building Size
4,280 SF
Year Built
1984
Stories
2
Listing Agency:
Carlton International
Listed By:
Bruno Piotrowski · License #3215399
(305) 771-9428
Source:
Evrealestate
Added: Sep 3
Changed: Sep 30
Last Checked: Oct 2 at 8:45PM
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 multifamily property is configured as a fourplex, with a total of 3,320 square feet. Built in 1984, the building has central air and central heating. Zoning is listed as 6107.
The property is located at 1459 NW 2nd St in Miami, within Miami-Dade County.
The property is located at 1459 NW 2nd St in Miami, within Miami-Dade County.
Key Highlights
- Fourplex configuration
- 3,320 square feet of property area
- Built in 1984
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
$61,332
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
3.96%
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%
$1,226,640
$1.2M
Cap Rate 7%
$876,171
$876.2K
Cap Rate 9%
$681,467
$681.5K
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
$119.5K $36.00/SF
− Vacancy
−$8.0K −$2.41/SF
EGI
$111.5K $33.59/SF
− OpEx
−$50.2K −$15.11/SF
NOI
$61.3K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,226,640
Cap Rate 7%
$876,171
Cap Rate 9%
$681,467
Alternative Uses
Best Use
Apartment 5plus
$876.2K
$766.7K – $1.02M
NOI $61,332 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
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
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Current Use
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
Check the figures for this property
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Four residential units provide a compact multifamily configuration in Miami.
Where is this multifamily property located?
The property is located at 1459 NW 2nd St 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 configuration; 3,320 square feet of property area; Built in 1984
