Remodeled Miami Fourplex Investment
For Sale
Contact for pricing
1762 NW 15th St, Miami, FL 33125
Substantially remodeled fourplex in Miami, offering strong income potential.
Property Size1,597 SF
Price / SF$688.79
Days on Market186
Property Features for 1762 NW 15th St
General Information
Standard status
Active
Size
1,597 SF
Property subtype
Multifamily
Zoning
5700
Building Details
Year Built
1921
Listing Agency:
The Keyes Company
(305) 323-6036
Listed By:
Orlando Leon · License #3508666
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Jul 19 at 8:37AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This income-producing non-conforming fourplex, located in Miami, Florida, presents an investor opportunity. The property has been substantially remodeled with updated interiors, modern finishes, and quality improvements. It is strategically positioned minutes from Freedom Park, the future home of major soccer events and a transformative mixed-use development, enhancing long-term appreciation potential and rental demand. The property size is 1597 square feet.
Key Highlights
- Substantially remodeled fourplex with updated interiors and modern finishes.
- Income‑producing property, offering a strong turnkey investment opportunity.
- Located minutes from Freedom Park, the future home of major soccer events and a transformative mixed‑use development.
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
$32,029
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
2.91%
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%
$640,580
$640.6K
Cap Rate 7%
$457,557
$457.6K
Cap Rate 9%
$355,878
$355.9K
Market Conditions
NOI Build-Up for 1,597 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
$48.9K $30.60/SF
− Vacancy
−$3.1K −$1.95/SF
EGI
$45.8K $28.65/SF
− OpEx
−$13.7K −$8.60/SF
NOI
$32.0K $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%
$640,580
Cap Rate 7%
$457,557
Cap Rate 9%
$355,878
Alternative Uses
Best Use
Multifamily LT 5
$457.6K
$400.4K – $533.8K
NOI $32,029 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$421.5K
$368.8K – $491.7K
NOI $29,502 @ 7.0% cap · market cap 2.68%
Theoretical Best
Specialty Retail
$1.08M
$943.2K – $1.26M
NOI $75,459 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,129
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 - Substantially remodeled fourplex in Miami, offering strong income potential.
Where is this quadplex located?
The property is located at 1762 NW 15th St Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Substantially remodeled fourplex with updated interiors and modern finishes.; Income‑producing property, offering a strong turnkey investment opportunity.; Located minutes from Freedom Park, the future home of major soccer events and a transformative mixed‑use development.
