Two-Unit Duplex with Fenced
For Sale
Contact for pricing
2615 SW 32nd Ave, Miami, FL 33133
1974-built multifamily property with two residential units, on-site parking, and access to major Miami destinations.
Property Size2,124 SF
Price / SF$353.11
Days on Market216
Property Features for 2615 SW 32nd Ave
General Information
Standard status
Active
Size
2,124 SF
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
5700
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
fenced yard
Building Details
Year Built
1974
Listing Agency:
Lifestyle International Realty
(305) 588-0323
Listed By:
Massiel Perdomo · License #3321092
Source:
Crexi
Added: Jan 28
Changed: Aug 29
Last Checked: Aug 31 at 9:45AM
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 Lifestyle International Realty
Investment Insights
Based on property information with market context.
This 2,124-square-foot duplex contains two residential units within a multifamily property built in 1974. The improvements include on-site parking and a fenced yard, providing defined outdoor space for the property.
The asset is located in Miami’s Silver Bluff area at 2615 SW 32nd Ave. Coconut Grove is nearby, with access to US-1, Brickell, and the beaches. The property carries zoning designation 5700 and is offered for sale.
The asset is located in Miami’s Silver Bluff area at 2615 SW 32nd Ave. Coconut Grove is nearby, with access to US-1, Brickell, and the beaches. The property carries zoning designation 5700 and is offered for sale.
Key Highlights
- 2,124‑square‑foot duplex with two residential units
- Built in 1974
- Fenced yard included
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
$42,598
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
5.68%
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%
$851,960
$852.0K
Cap Rate 7%
$608,543
$608.5K
Cap Rate 9%
$473,311
$473.3K
Market Conditions
NOI Build-Up for 2,124 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
$65.0K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$60.9K $28.65/SF
− OpEx
−$18.3K −$8.60/SF
NOI
$42.6K $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%
$851,960
Cap Rate 7%
$608,543
Cap Rate 9%
$473,311
Alternative Uses
Best Use
Multifamily LT 5
$608.5K
$532.5K – $710.0K
NOI $42,598 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$560.5K
$490.5K – $654.0K
NOI $39,238 @ 7.0% cap · market cap 5.23%
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,360 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,253
Businesses Nearby
Explore this area
Business Placement
Demographics for 33133, FL
34,141
Population
17,235
Households
2
Avg Household Size
43
Median Age
62%
College-Educated
95%
High-School Grad
4.2 sq mi
ZIP Area
8,129
Density / Sq Mi
$92,734
Median Household Income
$58,233
Median Earnings
$1,945
Median Rent
$906,800
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 - 1974-built multifamily property with two residential units, on-site parking, and access to major Miami destinations.
Where is this duplex located?
The property is located at 2615 SW 32nd Ave 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: 2,124‑square‑foot duplex with two residential units; Built in 1974; Fenced yard included
