Three-Unit CBS
For Sale
$765,000
2283 NW 35th St, Miami, FL 33142
Front residence includes three bedrooms and two baths; the rear structure provides two-story one-bedroom layouts.
Property Size2,700 SF
Days on Market9
Property Features for 2283 NW 35th St
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/2BA, 2 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,420
Building Details
Building Size
2,700 SF
Year Built
1938
Stories
2
Construction
CBS
Listing Agency:
Fausto Commercial Realty Consultants Inc
(305) 340-8901
Listed By:
Mauricio Villasuso · License #3254982
(305) 340-8901
Source:
Elliman
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 26 at 9:00AM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
Built in 1938, this triplex combines a front single-family residence with a rear two-story building. The front home is configured with three bedrooms and two bathrooms, while each floor of the rear structure contains a one-bedroom, one-bath layout. CBS construction is noted for the rear building.
The property is located at 2283 NW 35th St in Miami, one block from NW 36th Street. WalkScore is 68, indicating a somewhat walkable setting, while TransitScore is 60 and BikeScore is 53.
The property is located at 2283 NW 35th St in Miami, one block from NW 36th Street. WalkScore is 68, indicating a somewhat walkable setting, while TransitScore is 60 and BikeScore is 53.
Key Highlights
- Triplex configuration with three total residential units
- Front residence features a 3/2 layout
- Rear building has two stories with a 2/1 layout on each floor
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
$54,150
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
7.08%
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%
$1,083,000
$1.1M
Cap Rate 7%
$773,571
$773.6K
Cap Rate 9%
$601,667
$601.7K
Market Conditions
NOI Build-Up for 2,700 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
$82.6K $30.60/SF
− Vacancy
−$5.3K −$1.95/SF
EGI
$77.4K $28.65/SF
− OpEx
−$23.2K −$8.60/SF
NOI
$54.1K $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%
$1,083,000
Cap Rate 7%
$773,571
Cap Rate 9%
$601,667
Alternative Uses
Best Use
Multifamily LT 5
$773.6K
$676.9K – $902.5K
NOI $54,150 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$712.5K
$623.5K – $831.3K
NOI $49,878 @ 7.0% cap · market cap 6.52%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,576 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,531
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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?
Triplex - Front residence includes three bedrooms and two baths; the rear structure provides two-story one-bedroom layouts.
Where is this triplex located?
The property is located at 2283 NW 35th St Miami, FL.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Triplex configuration with three total residential units; Front residence features a 3/2 layout; Rear building has two stories with a 2/1 layout on each floor
