Triplex Property with RU-2
New
For Sale
$675,000
2272 NW 66th Street, Miami, FL 33147
Three-unit income property with residential zoning and an established rental configuration.
Property Size2,228 SF
Lot Size0.17 Acres
Price / SF$302.96
Days on Market5
Property Features for 2272 NW 66th Street
General Information
Standard status
Active
Size
2,228 SF
Lot size
0.17 Acres
Property subtype
Duplex
Zoning
RU-2
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,460
Building Details
Building Size
2,228 SF
Year Built
1972
Listing Agency:
Florida Realty Agency
(786) 212-9813
Listed By:
Sebastian Ramirez · License #3514525
(786) 212-9813
Source:
Silverleafrealtygroup
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 9:22AM
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 Florida Realty Agency
Investment Insights
Based on property information with market context.
This 1972-built triplex property contains 2,228 square feet of living space arranged as three separate units. The improvements sit on a 7,480-square-foot lot and are zoned RU-2, supporting the property's residential income profile.
Located in Miami, the property is positioned within the city's rental market and offers a configuration centered on multiple residential units. Its existing layout provides a straightforward multifamily asset for an investor or an owner-occupant seeking separate rental units, as supported by the current three-unit arrangement.
Located in Miami, the property is positioned within the city's rental market and offers a configuration centered on multiple residential units. Its existing layout provides a straightforward multifamily asset for an investor or an owner-occupant seeking separate rental units, as supported by the current three-unit arrangement.
Key Highlights
- Three separate residential units
- 2,228 SF of living space
- 7,480 SF lot
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
$44,684
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
6.62%
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%
$893,680
$893.7K
Cap Rate 7%
$638,343
$638.3K
Cap Rate 9%
$496,489
$496.5K
Market Conditions
NOI Build-Up for 2,228 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
$68.2K $30.60/SF
− Vacancy
−$4.3K −$1.95/SF
EGI
$63.8K $28.65/SF
− OpEx
−$19.2K −$8.60/SF
NOI
$44.7K $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%
$893,680
Cap Rate 7%
$638,343
Cap Rate 9%
$496,489
Alternative Uses
Best Use
Multifamily LT 5
$638.3K
$558.6K – $744.7K
NOI $44,684 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$588.0K
$514.5K – $686.0K
NOI $41,159 @ 7.0% cap · market cap 6.10%
Theoretical Best
Specialty Retail
$1.50M
$1.32M – $1.75M
NOI $105,274 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
796
Businesses Nearby
Explore this area
Business Placement
Demographics for 33147, FL
48,823
Population
16,220
Households
3
Avg Household Size
39
Median Age
15%
College-Educated
77%
High-School Grad
7.2 sq mi
ZIP Area
6,781
Density / Sq Mi
$47,728
Median Household Income
$33,385
Median Earnings
$1,359
Median Rent
$301,300
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?
Triplex - Three-unit income property with residential zoning and an established rental configuration.
Where is this triplex located?
The property is located at 2272 NW 66th Street Miami, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three separate residential units; 2,228 SF of living space; 7,480 SF lot
