Triplex With On-Site
For Sale
$900,000
1536 SW 22nd Ave, Miami, FL 33145
Triplex near Coral Gables, Brickell, Downtown Miami, shopping, dining, and major transportation routes.
Property Size2,080 SF
Days on Market11
Property Features for 1536 SW 22nd Ave
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$7,873
Building Details
Building Size
2,080 SF
Year Built
1926
Tenancy
Multi
Listing Agency:
Chez Realty, LLC.
Listed By:
Mario Cabrera Benjamin Jr · License #3367844
(786) 452-4644
Source:
Miamibrokersgroup
Added: Sep 16
Changed: Sep 25
Last Checked: Sep 24 at 7:10PM
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 Chez Realty, LLC.
Investment Insights
Based on property information with market context.
This triplex was built in 1926 and includes on-site parking for residents and guests. Two units are currently leased, while additional unit availability provides flexibility for an owner-occupant or future tenants.
The property is positioned near Coral Gables, Brickell, and Downtown Miami, with shopping, dining, and major transportation routes nearby. Potential commercial use or rezoning would require a variance and applicable governmental approvals.
The property is positioned near Coral Gables, Brickell, and Downtown Miami, with shopping, dining, and major transportation routes nearby. Potential commercial use or rezoning would require a variance and applicable governmental approvals.
Key Highlights
- Triplex built in 1926
- Two units currently leased
- On‑site parking for residents and guests
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
$41,716
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
4.64%
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%
$834,320
$834.3K
Cap Rate 7%
$595,943
$595.9K
Cap Rate 9%
$463,511
$463.5K
Market Conditions
NOI Build-Up for 2,080 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
$63.6K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$59.6K $28.65/SF
− OpEx
−$17.9K −$8.60/SF
NOI
$41.7K $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%
$834,320
Cap Rate 7%
$595,943
Cap Rate 9%
$463,511
Alternative Uses
Best Use
Multifamily LT 5
$595.9K
$521.5K – $695.3K
NOI $41,716 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$548.9K
$480.3K – $640.4K
NOI $38,425 @ 7.0% cap · market cap 4.27%
Theoretical Best
Specialty Retail
$1.40M
$1.23M – $1.64M
NOI $98,281 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,481
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Triplex near Coral Gables, Brickell, Downtown Miami, shopping, dining, and major transportation routes.
Where is this triplex located?
The property is located at 1536 SW 22nd Ave Miami, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Triplex built in 1926; Two units currently leased; On‑site parking for residents and guests
