Renovated Triplex with Detached
For Sale
Contact for pricing
244 SW 14th Ave, Miami, FL 33135
Three separately metered residences offer flexible rental or multigenerational living arrangements near Miami’s urban core.
Property Size1,938 SF
Price / SF$593.40
Days on Market18
Property Features for 244 SW 14th Ave
General Information
Standard status
Active
Size
1,938 SF
Total Parking Spaces
3
Property subtype
Multifamily
Zoning
3901
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
shared laundry facilities
central A/C
in-unit washer and dryer
private fenced backyard
Building Details
Year Built
1928
Buildings
2
Units
3
Listing Agency:
Brickell Brokers Real Estate
Listed By:
Magali Resnik · License #3484035
Source:
Crexi
Added: Jul 25
Changed: Aug 8
Last Checked: Aug 11 at 4:28PM
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 Brickell Brokers Real Estate
Investment Insights
Based on property information with market context.
This 1,938-square-foot triplex contains three two-bedroom, one-bath residences: two connected units and a detached home with a single-family-style layout. The detached residence includes central A/C, a private fenced backyard, in-unit laundry, and updated finishes. The attached residences share laundry facilities and have on-site parking. Renovations include a 2022 roof, impact-rated windows and doors, renovated kitchens and bathrooms, luxury flooring, and new appliances such as refrigerators, ranges, dishwashers, microwaves, and laundry equipment.
The property is separately metered with three electric meters and three water meters. Located at 244 SW 14th Ave in Miami, the triplex is near Brickell, Downtown, the Miami River, LoanDepot Park, Jackson Memorial, the UM Health District, and major highways. Built in 1928 and identified with zoning code 3901, the property supports long-term rental, house-hacking, and multigenerational living uses described in the listing.
The property is separately metered with three electric meters and three water meters. Located at 244 SW 14th Ave in Miami, the triplex is near Brickell, Downtown, the Miami River, LoanDepot Park, Jackson Memorial, the UM Health District, and major highways. Built in 1928 and identified with zoning code 3901, the property supports long-term rental, house-hacking, and multigenerational living uses described in the listing.
Key Highlights
- 1,938 SF triplex with three 2‑bedroom/1‑bath residences
- Detached residence includes central A/C, in‑unit laundry, and a private fenced backyard
- 2022 roof, impact windows and doors, updated kitchens and bathrooms
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
$38,868
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
3.38%
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%
$777,360
$777.4K
Cap Rate 7%
$555,257
$555.3K
Cap Rate 9%
$431,867
$431.9K
Market Conditions
NOI Build-Up for 1,938 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
$59.3K $30.60/SF
− Vacancy
−$3.8K −$1.95/SF
EGI
$55.5K $28.65/SF
− OpEx
−$16.7K −$8.60/SF
NOI
$38.9K $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%
$777,360
Cap Rate 7%
$555,257
Cap Rate 9%
$431,867
Alternative Uses
Best Use
Multifamily LT 5
$555.3K
$485.9K – $647.8K
NOI $38,868 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$511.4K
$447.5K – $596.7K
NOI $35,801 @ 7.0% cap · market cap 3.11%
Theoretical Best
Specialty Retail
$1.31M
$1.14M – $1.53M
NOI $91,571 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,838
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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?
Triplex - Three separately metered residences offer flexible rental or multigenerational living arrangements near Miami’s urban core.
Where is this triplex located?
The property is located at 244 SW 14th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 1,938 SF triplex with three 2‑bedroom/1‑bath residences; Detached residence includes central A/C, in‑unit laundry, and a private fenced backyard; 2022 roof, impact windows and doors, updated kitchens and bathrooms
