Six-Unit Multifamily
For Sale
$1,625,000
2765 NW 17th Terrace, Miami, FL 33125
Fully leased two-story six-unit building with added leased parking income on a 13,275 SF lot zoned T6-8-O.
Property Size4,577 SF
Lot Size0.30 Acres
Price / SF$406.96
Days on Market175
Property Features for 2765 NW 17th Terrace
General Information
Standard status
Active
Size
4,577 SF
Lot size
0.30 Acres
Property subtype
Quadruplex
Zoning
T6-8-O
Occupancy
100%
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$16,694
Building Details
Building Size
4,577 SF
Year Built
1945
Stories
2
Tenancy
Multi
Listing Agency:
RE/MAX 360 Real Estate
Listed By:
Agustin Duarte · License #3284824
(305) 450-5992
Source:
Silverleafrealtygroup
Added: Mar 16
Changed: Sep 2
Last Checked: Sep 5 at 8:31AM
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 RE/MAX 360 Real Estate
Investment Insights
Based on property information with market context.
This fully leased, two-story multifamily property totals six units and includes additional leased parking income. The unit mix features four 1-bedroom homes and two 3-bedroom homes, providing in-place rental cash flow. The site is identified by folio 01-3133-008-0340.
The property sits on a 13,275 SF lot and is zoned T6-8-O. The property is described as eligible for Live Local incentives, and the seller notes conceptual redevelopment potential of up to 42 units subject to verification and approvals.
As a covered-land opportunity with existing income during planning, the asset offers a straightforward, current income stream alongside redevelopment upside tied to local approvals.
The property sits on a 13,275 SF lot and is zoned T6-8-O. The property is described as eligible for Live Local incentives, and the seller notes conceptual redevelopment potential of up to 42 units subject to verification and approvals.
As a covered-land opportunity with existing income during planning, the asset offers a straightforward, current income stream alongside redevelopment upside tied to local approvals.
Key Highlights
- Fully leased six‑unit, two‑story multifamily totaling approx. 3,993 SF on a 13,275 SF lot
- Unit mix: four 1‑bedroom units and two 3‑bedroom units, plus additional leased parking income
- Zoned T6‑8‑O (Primary Zone 6100 – Commercial Neighborhood) providing conceptual redevelopment potential of up to 42 units (subject to verification and approvals)
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
$73,764
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
4.54%
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%
$1,475,280
$1.5M
Cap Rate 7%
$1,053,771
$1.1M
Cap Rate 9%
$819,600
$819.6K
Market Conditions
NOI Build-Up for 3,993 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
$143.7K $36.00/SF
− Vacancy
−$9.6K −$2.41/SF
EGI
$134.1K $33.59/SF
− OpEx
−$60.4K −$15.11/SF
NOI
$73.8K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,475,280
Cap Rate 7%
$1,053,771
Cap Rate 9%
$819,600
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$922.1K – $1.23M
NOI $73,764 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.70M
$2.36M – $3.14M
NOI $188,671 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,878
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased two-story six-unit building with added leased parking income on a 13,275 SF lot zoned T6-8-O.
Where is this apartment building located?
The property is located at 2765 NW 17th Terrace Miami, FL.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: Fully leased six‑unit, two‑story multifamily totaling approx. 3,993 SF on a 13,275 SF lot; Unit mix: four 1‑bedroom units and two 3‑bedroom units, plus additional leased parking income; Zoned T6‑8‑O (Primary Zone 6100 – Commercial Neighborhood) providing conceptual redevelopment potential of up to 42 units (subject to verification and approvals)
