Fully Leased
New
For Sale
$989,000
2450 SW 90th Ave, Miami, FL 33165
The two residences have a 3-bedroom, 2-bathroom and a 2-bedroom, 2-bathroom layout.
Property Size2,785 SF
Lot Size0.39 Acres
Days on Market4
Property Features for 2450 SW 90th Ave
General Information
Standard status
Active
Size
2,785 SF
Lot size
0.39 Acres
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 3/2, 1 x 2/2
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$15,897
Building Details
Building Size
2,785 SF
Year Built
1974
Buildings
1
Tenancy
Multi
Listing Agency:
Onyx Realty
Listed By:
Danisa Borges · License #3344447
Source:
Miamibrokersgroup
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 3 at 2:23AM
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 Onyx Realty
Investment Insights
Based on property information with market context.
Built in 1974, this duplex sits on a 16,950-square-foot lot and is fully leased. The unit configuration is one 3-bedroom, 2-bathroom residence and one 2-bedroom, 2-bathroom residence; it differs from county records. The property is offered as-is and is tenant-occupied.
The property is in Westchester, with the Palmetto, Florida’s Turnpike, Tropical Park, FIU, shopping, and dining identified nearby. Exterior viewing is limited to the street; appointments must be arranged through the listing agent in advance.
The property is in Westchester, with the Palmetto, Florida’s Turnpike, Tropical Park, FIU, shopping, and dining identified nearby. Exterior viewing is limited to the street; appointments must be arranged through the listing agent in advance.
Key Highlights
- Fully leased two‑unit property
- 16,950‑square‑foot lot
- Unit layouts are 3/2 and 2/2, differing from county records
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
$55,855
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
5.65%
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%
$1,117,100
$1.1M
Cap Rate 7%
$797,929
$797.9K
Cap Rate 9%
$620,611
$620.6K
Market Conditions
NOI Build-Up for 2,785 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
$85.2K $30.60/SF
− Vacancy
−$5.4K −$1.95/SF
EGI
$79.8K $28.65/SF
− OpEx
−$23.9K −$8.60/SF
NOI
$55.9K $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%
$1,117,100
Cap Rate 7%
$797,929
Cap Rate 9%
$620,611
Alternative Uses
Best Use
Multifamily LT 5
$797.9K
$698.2K – $930.9K
NOI $55,855 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$735.0K
$643.1K – $857.5K
NOI $51,448 @ 7.0% cap · market cap 5.20%
Theoretical Best
Specialty Retail
$1.88M
$1.64M – $2.19M
NOI $131,593 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,203
Businesses Nearby
Explore this area
Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - The two residences have a 3-bedroom, 2-bathroom and a 2-bedroom, 2-bathroom layout.
Where is this duplex located?
The property is located at 2450 SW 90th Ave Miami, FL.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Fully leased two‑unit property; 16,950‑square‑foot lot; Unit layouts are 3/2 and 2/2, differing from county records
