Remodeled Quadplex with Tenant
For Sale
$1,149,000
2835 Northwest 22nd Avenue, Miami, FL 33142
Four-unit property with patio-accessible ground-floor residences and updated mechanical systems.
Property Size4,421 SF
Price / SF$259.90
Days on Market175
Property Features for 2835 Northwest 22nd Avenue
General Information
Standard status
Active
Size
4,421 SF
Property subtype
Multi-Family Income / Fourplex
Additional Details
Cap Rate
6.5%
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,329
Amenities
storage spaces
patio access
Building Details
Year Built
1969
Listing Agency:
Rolar Realty Group, LLC.
Listed By:
Sidle Roldan · License #3208717
(305) 915-2882
Source:
Compass
Added: Mar 13
Changed: Sep 2
Last Checked: Sep 2 at 11:39PM
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 Rolar Realty Group, LLC.
Investment Insights
Based on property information with market context.
This 4,421-square-foot quadplex, built in 1969, includes four residential units with laminate flooring throughout. Bathroom renovations are complete in three units, while the fourth remains excluded from that update. Three new A/C units have been installed, and the roof was recoated on 04/11/2025. A renovated fence and four rear storage spaces add to the property’s physical improvements.
Ground-floor residences provide direct access to patios. The 40/50-year re-certification has been completed. Located in Allapattah, the property is offered with an approximate 6.5% cap rate.
Ground-floor residences provide direct access to patios. The 40/50-year re-certification has been completed. Located in Allapattah, the property is offered with an approximate 6.5% cap rate.
Key Highlights
- 4,421‑square‑foot quadplex built in 1969
- 40/50‑year re‑certification completed
- Three brand‑new A/C units installed
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
$88,666
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
7.72%
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%
$1,773,320
$1.8M
Cap Rate 7%
$1,266,657
$1.3M
Cap Rate 9%
$985,178
$985.2K
Market Conditions
NOI Build-Up for 4,421 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
$135.3K $30.60/SF
− Vacancy
−$8.6K −$1.95/SF
EGI
$126.7K $28.65/SF
− OpEx
−$38.0K −$8.60/SF
NOI
$88.7K $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%
$1,773,320
Cap Rate 7%
$1,266,657
Cap Rate 9%
$985,178
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,666 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,671 @ 7.0% cap · market cap 7.11%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,894 @ 7.0% cap · market cap 18.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
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?
Quadplex - Four-unit property with patio-accessible ground-floor residences and updated mechanical systems.
Where is this quadplex located?
The property is located at 2835 Northwest 22nd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: 4,421‑square‑foot quadplex built in 1969; 40/50‑year re‑certification completed; Three brand‑new A/C units installed
