Duplex
For Sale
$639,000
244 SW 36th Ave, Miami, FL 33135
Established duplex property in Little Havana near Downtown Miami and Coral Gables.
Property Size1,847 SF
Days on Market95
Property Features for 244 SW 36th Ave
General Information
Standard status
Active
Size
1,847 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$10,003
Building Details
Building Size
1,847 SF
Year Built
1925
Listing Agency:
Legacy Realty Partners, LLC.
(305) 598-5488
Listed By:
Javier Fano Villaescusa · License #3488865
Source:
Vanessafrankmiami
Added: May 11
Changed: Aug 2
Last Checked: Aug 12 at 2:54PM
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 Legacy Realty Partners, LLC.
Investment Insights
Based on property information with market context.
This duplex property, built in 1925, is offered for sale as a residential income asset in Little Havana. Its central Miami setting places the property near Downtown Miami and Coral Gables. Showings are available by appointment on Wednesday at 1:00 PM and Friday after 5:30 PM.
Key Highlights
- Duplex property built in 1925
- Located in Little Havana
- Near Downtown Miami and Coral Gables
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
$37,043
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
5.80%
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%
$740,860
$740.9K
Cap Rate 7%
$529,186
$529.2K
Cap Rate 9%
$411,589
$411.6K
Market Conditions
NOI Build-Up for 1,847 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
$56.5K $30.60/SF
− Vacancy
−$3.6K −$1.95/SF
EGI
$52.9K $28.65/SF
− OpEx
−$15.9K −$8.60/SF
NOI
$37.0K $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%
$740,860
Cap Rate 7%
$529,186
Cap Rate 9%
$411,589
Alternative Uses
Best Use
Multifamily LT 5
$529.2K
$463.0K – $617.4K
NOI $37,043 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$487.4K
$426.5K – $568.7K
NOI $34,120 @ 7.0% cap · market cap 5.34%
Theoretical Best
Specialty Retail
$1.25M
$1.09M – $1.45M
NOI $87,272 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,747
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
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Frequently Asked Questions
What type of property is this?
Duplex - Established duplex property in Little Havana near Downtown Miami and Coral Gables.
Where is this duplex located?
The property is located at 244 SW 36th Ave Miami, FL.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Duplex property built in 1925; Located in Little Havana; Near Downtown Miami and Coral Gables
