New
For Sale
$695,000
2800 SW 16th Ter, Miami, FL 33145
Residential Income, Miami, FL
Property Size1,535 SF
Price / SF$452.77
Days on Market3
Property Features for 2800 SW 16th Ter
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 3, Bathroom 1
Parking
5
Subdivision
GRAPELAND
Lot features
< 1/4 Acre
Directions
Google Maps
Standard status
Active
APN
01-41-10-002-2450
Size
1,535 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
GRAPELAND SUB REV PB 3-196 LOT 12 LESS N10FT BLK 12 LOT SIZE 50.000 X 141 OR 21357-1421 0603 2 COC 23917-1343/24186-3584 1005 1
Tax Annual Amount
11498
Legal Description
GRAPELAND SUB REV PB 3-196 LOT 12 LESS N10FT BLK 12 LOT SIZE 50.000 X 141 OR 21357-1421 0603 2 COC 23917-1343/24186-3584 1005 1
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1924
Flooring type
Tile - Ceramic
Building materials
Frame, Stucco
Roof type
Shingle
Listing Agency:
Compass Florida, LLC
(305) 697-5402
Listed By:
Gerardo Gonzalez · License #3337841
(305) 964-8614
Added: Aug 27
Last Checked: Aug 29 at 1:06AM
MLS# A12078764
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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
$30,785
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
4.43%
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%
$615,700
$615.7K
Cap Rate 7%
$439,786
$439.8K
Cap Rate 9%
$342,056
$342.1K
Market Conditions
NOI Build-Up for 1,535 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
$47.0K $30.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$44.0K $28.65/SF
− OpEx
−$13.2K −$8.60/SF
NOI
$30.8K $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%
$615,700
Cap Rate 7%
$439,786
Cap Rate 9%
$342,056
Alternative Uses
Best Use
Multifamily LT 5
$439.8K
$384.8K – $513.1K
NOI $30,785 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$405.1K
$354.5K – $472.6K
NOI $28,357 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$1.04M
$906.6K – $1.21M
NOI $72,529 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this triplex located?
The property is located at 2800 SW 16th Ter Miami, FL.
What is the asking price?
The asking price for this property is $695,000.
