Triplex Investment
For Sale
$614,000
2425 NW 28th St, Miami, FL 33142
MULTI_FAMILY - Miami, FL
Property Size1,512 SF
Price / SF$406.08
Days on Market75
Property Features for 2425 NW 28th St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
5700
Bedrooms
6
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 6, Bedroom 1
Parking
6
Subdivision
MELROSE HEIGHTS 2ND SEC
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-27-016-0840
Size
1,512 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
MELROSE HGTS 2ND SEC PB 19-44 LOTS 17 & 18 BLK 14 LOT SIZE 50.000 X 135 OR 14959-295 0391 4
Tax Annual Amount
7700
Legal Description
MELROSE HGTS 2ND SEC PB 19-44 LOTS 17 & 18 BLK 14 LOT SIZE 50.000 X 135 OR 14959-295 0391 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1947
Floors in Building
1
Flooring type
Vinyl
Building materials
Brick, Block
Roof type
Slate
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Dax Londono PA · License #3454722
(786) 626-8695
Added: Jun 3
Changed: Aug 13
Last Checked: Aug 16 at 7:06AM
MLS# A11965762
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.
This tenant-occupied triplex offers rental income with three fully leased units. The property is currently configured as a triplex and features three two-bedroom, one-bath units. Interior finishes include vinyl flooring, with cooling provided by window and wall unit(s). Construction materials include brick and block, and the roof is slate.
The property is located at 2425 NW 28th St in Miami, FL 33142 (Miami-Dade County). Utilities include cable service, and the property connects to public sewer.
The offering is presented for investment purposes. Buyers should complete their own due diligence regarding zoning, use, and any existing code matters related to the current triplex configuration.
The property is located at 2425 NW 28th St in Miami, FL 33142 (Miami-Dade County). Utilities include cable service, and the property connects to public sewer.
The offering is presented for investment purposes. Buyers should complete their own due diligence regarding zoning, use, and any existing code matters related to the current triplex configuration.
Key Highlights
- Tenant‑occupied triplex with three fully leased units
- Three two‑bedroom, one‑bath units
- Vinyl flooring throughout
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
$30,324
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
4.94%
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%
$606,480
$606.5K
Cap Rate 7%
$433,200
$433.2K
Cap Rate 9%
$336,933
$336.9K
Market Conditions
NOI Build-Up for 1,512 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
$46.3K $30.60/SF
− Vacancy
−$2.9K −$1.95/SF
EGI
$43.3K $28.65/SF
− OpEx
−$13.0K −$8.60/SF
NOI
$30.3K $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%
$606,480
Cap Rate 7%
$433,200
Cap Rate 9%
$336,933
Alternative Uses
Best Use
Multifamily LT 5
$433.2K
$379.1K – $505.4K
NOI $30,324 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$399.0K
$349.2K – $465.5K
NOI $27,932 @ 7.0% cap · market cap 4.55%
Theoretical Best
Specialty Retail
$1.02M
$893.0K – $1.19M
NOI $71,443 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,437
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 - Tenant-occupied triplex with three leased two-bedroom units and window/wall cooling in Miami-Dade.
Where is this triplex located?
The property is located at 2425 NW 28th St Miami, FL.
What is the asking price?
The asking price for this property is $614,000.
What are key features of this property?
This property features: Tenant‑occupied triplex with three fully leased units; Three two‑bedroom, one‑bath units; Vinyl flooring throughout
