Triplex With Detached
For Sale
$750,000
2469 Southwest 15th Street, Miami, FL 33145
Tenant-occupied multifamily property with two separate buildings and major appliances provided for each unit.
Property Size1,452 SF
Price / SF$516.53
Days on Market314
Property Features for 2469 Southwest 15th Street
General Information
Standard status
Active
Size
1,452 SF
Property subtype
Multi-Family Income / Triplex
Taxes and HOA fees
Annual Taxes
$14,037
Building Details
Year Built
1924
Buildings
2
Listing Agency:
El Aleph Realty Corporation
Listed By:
Luis E Maqueira · License #3170557
(305) 600-9045
Source:
Compass
Added: Oct 30, 2025
Changed: Sep 2
Last Checked: Aug 31 at 3:17AM
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 El Aleph Realty Corporation
Investment Insights
Based on property information with market context.
This triplex comprises two separate detached buildings with a combined property size of 1,452 square feet. Each unit includes major appliances, and the property is currently tenant occupied. Built in 1924, the asset is being sold as is, with the buyer responsible for all open permits and violations.
The property is in Miami’s Grapeland Heights neighborhood, near the new Soccer Stadium and Miami River. Miami International Airport, the University of Miami, and Miami Beaches are also within reach. Showings are available by appointment through the listing agent.
The property is in Miami’s Grapeland Heights neighborhood, near the new Soccer Stadium and Miami River. Miami International Airport, the University of Miami, and Miami Beaches are also within reach. Showings are available by appointment through the listing agent.
Key Highlights
- Triplex with two separate detached buildings
- 1,452‑square‑foot property built in 1924
- Each unit includes major appliances
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
$29,121
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
3.88%
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%
$582,420
$582.4K
Cap Rate 7%
$416,014
$416.0K
Cap Rate 9%
$323,567
$323.6K
Market Conditions
NOI Build-Up for 1,452 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
$44.4K $30.60/SF
− Vacancy
−$2.8K −$1.95/SF
EGI
$41.6K $28.65/SF
− OpEx
−$12.5K −$8.60/SF
NOI
$29.1K $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%
$582,420
Cap Rate 7%
$416,014
Cap Rate 9%
$323,567
Alternative Uses
Best Use
Multifamily LT 5
$416.0K
$364.0K – $485.4K
NOI $29,121 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$383.2K
$335.3K – $447.1K
NOI $26,823 @ 7.0% cap · market cap 3.58%
Theoretical Best
Specialty Retail
$980.1K
$857.6K – $1.14M
NOI $68,608 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,129
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
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?
Triplex - Tenant-occupied multifamily property with two separate buildings and major appliances provided for each unit.
Where is this triplex located?
The property is located at 2469 Southwest 15th Street Miami, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Triplex with two separate detached buildings; 1,452‑square‑foot property built in 1924; Each unit includes major appliances
