Four-Unit
For Sale
$875,700
2855 Northwest 22nd Avenue, Miami, FL 33142
Income-producing residential property near Little Havana and major highways.
Property Size2,386 SF
Price / SF$367.02
Days on Market1209
Property Features for 2855 Northwest 22nd Avenue
General Information
Standard status
Active
Size
2,386 SF
Property subtype
Residential Income / Fourplex
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,917
Amenities
Wall Window Units, Yes
Central, Electric, Other, Yes
1
Concrete, Other
Composition, Shingle
No
Multi Family
Building Details
Year Built
1960
Listing Agency:
Pinnacle Realty of Florida Corp
Listed By:
Roberto Claro · License #3570526
(786) 298-8214
Source:
Compass
Added: May 16, 2023
Changed: Sep 3
Last Checked: Sep 4 at 3:36PM
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 Pinnacle Realty of Florida Corp
Investment Insights
Based on property information with market context.
This four-unit residential property contains 2,386 square feet and was built in 1960. The quadplex configuration provides multiple residential units within a single multifamily asset.
The property is located in Miami near the Little Havana entertainment district and major highways, offering access to established local destinations and regional routes.
The property is located in Miami near the Little Havana entertainment district and major highways, offering access to established local destinations and regional routes.
Key Highlights
- Four‑unit quadplex configuration
- 2,386 square feet of property size
- Built in 1960
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
$47,853
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
5.46%
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%
$957,060
$957.1K
Cap Rate 7%
$683,614
$683.6K
Cap Rate 9%
$531,700
$531.7K
Market Conditions
NOI Build-Up for 2,386 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
$73.0K $30.60/SF
− Vacancy
−$4.7K −$1.95/SF
EGI
$68.4K $28.65/SF
− OpEx
−$20.5K −$8.60/SF
NOI
$47.9K $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%
$957,060
Cap Rate 7%
$683,614
Cap Rate 9%
$531,700
Alternative Uses
Best Use
Multifamily LT 5
$683.6K
$598.2K – $797.6K
NOI $47,853 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$629.7K
$551.0K – $734.6K
NOI $44,078 @ 7.0% cap · market cap 5.03%
Theoretical Best
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $112,740 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing residential property near Little Havana and major highways.
Where is this quadplex located?
The property is located at 2855 Northwest 22nd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $875,700.
What are key features of this property?
This property features: Four‑unit quadplex configuration; 2,386 square feet of property size; Built in 1960
