Corner Duplex with Central
For Sale
$720,000
15700 NW 37th Pl, Miami Gardens, FL 33054
Residential Income, Miami Gardens, FL
Property Size2,664 SF
Price / SF$270.27
Days on Market45
Property Features for 15700 NW 37th Pl
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 4, Bedroom 6, Bathroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1
Parking
6
Subdivision
VENETIAN GARDENS ACRESPB
Lot features
Corner Lot, Oversized Lot, < 1/4 Acre
Standard status
Active
APN
34-21-17-003-1530
Size
2,664 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
VENETIAN GDNS ACRES PB 44-81 LOT 9 BLK 13 LOT SIZE 95.000 X 120 FAU 34-2117-003-1520 OR 25403-4404 0207 2
Tax Annual Amount
13969
Legal Description
VENETIAN GDNS ACRES PB 44-81 LOT 9 BLK 13 LOT SIZE 95.000 X 120 FAU 34-2117-003-1520 OR 25403-4404 0207 2
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2010
Floors in Building
1
Flooring type
Terrazzo
Building materials
Block
Roof type
Shingle
Listing Agency:
Results Realty of Dade County
(305) 821-0807
Listed By:
Juana Maria Gonzalez · License #412009
(305) 343-8313
Added: Jul 18
Changed: Aug 26
Last Checked: Aug 31 at 3:06PM
MLS# A12020578
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2010, this 2,664-square-foot duplex contains two separate residences, each arranged with three bedrooms and two bathrooms. Block construction, terrazzo flooring, central heating, central air conditioning, and shingle roofing define the property’s core improvements. Public water service, a septic tank, and cable availability are also reported.
The property is located in Miami Gardens, within Miami-Dade County, and occupies a corner position at 15700 NW 37th Pl. One residence is leased through 12/15/26 under a Sec 8 arrangement, while the other residence, identified as 15710, is vacant. The two-unit configuration provides distinct living spaces within a single multifamily property.
The property is located in Miami Gardens, within Miami-Dade County, and occupies a corner position at 15700 NW 37th Pl. One residence is leased through 12/15/26 under a Sec 8 arrangement, while the other residence, identified as 15710, is vacant. The two-unit configuration provides distinct living spaces within a single multifamily property.
Key Highlights
- 2,664‑square‑foot duplex built in 2010
- Two residences, each with 3 bedrooms and 2 bathrooms
- One side leased under Sec 8 through 12/15/26
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
$38,025
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
5.28%
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%
$760,500
$760.5K
Cap Rate 7%
$543,214
$543.2K
Cap Rate 9%
$422,500
$422.5K
Market Conditions
NOI Build-Up for 2,664 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
$55.9K $21.00/SF
− Vacancy
−$1.6K −$0.61/SF
EGI
$54.3K $20.39/SF
− OpEx
−$16.3K −$6.12/SF
NOI
$38.0K $14.27/SF
Area
Miami Gardens, FL
Vacancy
2.90%
Lease Rate
$21.00 /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%
$760,500
Cap Rate 7%
$543,214
Cap Rate 9%
$422,500
Alternative Uses
Best Use
Multifamily LT 5
$543.2K
$475.3K – $633.8K
NOI $38,025 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$506.0K
$442.8K – $590.4K
NOI $35,423 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$793.1K
$694.0K – $925.3K
NOI $55,518 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 33054, FL
30,352
Population
10,263
Households
3
Avg Household Size
37
Median Age
10%
College-Educated
75%
High-School Grad
8.4 sq mi
ZIP Area
3,613
Density / Sq Mi
$42,779
Median Household Income
$31,147
Median Earnings
$1,346
Median Rent
$291,700
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 - Each residence provides a three-bedroom, two-bath layout with central heating and cooling.
Where is this duplex located?
The property is located at 15700 NW 37th Pl Miami Gardens, FL.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: 2,664‑square‑foot duplex built in 2010; Two residences, each with 3 bedrooms and 2 bathrooms; One side leased under Sec 8 through 12/15/26
