Two-Unit Duplex with Central
For Sale
$799,999
2744 SW 16th Ter, Miami, FL 33145
1925 duplex with wood flooring, two parking spaces, and T3O zoning supporting multifamily and townhome development.
Property Size1,563 SF
Lot Size0.16 Acres
Price / SF$511.84
Days on Market86
Property Features for 2744 SW 16th Ter
General Information
Standard status
Active
Size
1,563 SF
Total Parking Spaces
2
Lot size
0.16 Acres
Property subtype
Duplex
Zoning
T3O
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$6,000
Amenities
wood floors
central air
Building Details
Building Size
1,563 SF
Year Built
1925
Buildings
1
Tenancy
Multi
Listing Agency:
One Sotheby's International Realty
(786) 972-4883
Listed By:
Daniel Vera · License #3270365
Source:
Vanessafrankmiami
Added: May 20
Changed: Aug 2
Last Checked: Aug 12 at 2:06PM
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 One Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 1925, this duplex contains two separate residential units totaling 1,563 square feet on a 7,000-square-foot lot. Interior features include wood floors and central air, while two parking spaces serve the property. The roof is new, and PBC plumbing has also been installed. The front unit is rented and the rear unit is occupied, providing an existing residential income profile.
The property is located at 2744 SW 16th Ter in Miami’s Shenandoah neighborhood, with Downtown Miami, Brickell, and Coral Gables described as minutes away. T3O zoning permits modern multi-unit or townhome construction. The existing two-unit layout can support an owner-occupant arrangement or continued use as a residential income property.
The property is located at 2744 SW 16th Ter in Miami’s Shenandoah neighborhood, with Downtown Miami, Brickell, and Coral Gables described as minutes away. T3O zoning permits modern multi-unit or townhome construction. The existing two-unit layout can support an owner-occupant arrangement or continued use as a residential income property.
Key Highlights
- Two separate units totaling 1,563 square feet
- 7,000‑square‑foot lot in Miami’s Shenandoah neighborhood
- T3O zoning permits modern multi‑unit or townhome construction
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
$31,347
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
3.92%
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%
$626,940
$626.9K
Cap Rate 7%
$447,814
$447.8K
Cap Rate 9%
$348,300
$348.3K
Market Conditions
NOI Build-Up for 1,563 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
$47.8K $30.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$44.8K $28.65/SF
− OpEx
−$13.4K −$8.60/SF
NOI
$31.3K $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%
$626,940
Cap Rate 7%
$447,814
Cap Rate 9%
$348,300
Alternative Uses
Best Use
Multifamily LT 5
$447.8K
$391.8K – $522.5K
NOI $31,347 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$412.5K
$360.9K – $481.2K
NOI $28,874 @ 7.0% cap · market cap 3.61%
Theoretical Best
Specialty Retail
$1.06M
$923.2K – $1.23M
NOI $73,852 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,469
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?
Duplex - 1925 duplex with wood flooring, two parking spaces, and T3O zoning supporting multifamily and townhome development.
Where is this duplex located?
The property is located at 2744 SW 16th Ter Miami, FL.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Two separate units totaling 1,563 square feet; 7,000‑square‑foot lot in Miami’s Shenandoah neighborhood; T3O zoning permits modern multi‑unit or townhome construction
