Legal Duplex on T3-O
New
For Sale
$700,000
2993 SW 2nd Street, Miami, FL 33135
Tenant-occupied property near W Flagler Street, with access to Downtown, Brickell, and Miami International Airport.
Property Size3,168 SF
Lot Size0.16 Acres
Price / SF$220.96
Days on Market5
Property Features for 2993 SW 2nd Street
General Information
Standard status
Active
Size
3,168 SF
Lot size
0.16 Acres
Property subtype
Duplex
Zoning
T3-O
Site & Location
Neighborhood
Auburndale
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Building Details
Year Built
1947
Listing Agency:
Fausto Commercial Realty Consultants Inc
(786) 748-7373
Listed By:
Miguel A Fuentes · License #3403804
(305) 915-3492
Source:
Lehmannflorida
Added: Oct 28
Changed: Oct 30
Last Checked: Nov 1 at 6:04AM
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 Fausto Commercial Realty Consultants Inc
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Investment Insights
Based on property information with market context.
This legal duplex in Little Havana offers 3,168 square feet of living area, with 4,106 square feet in total, including non-living space. The 3-bedroom, 3-bathroom property was built in 1947 and sits on a 7,100-square-foot T3-O lot. It is tenant-occupied and offered as-is; showings are by appointment.
The property is near W Flagler Street, with Downtown, Brickell, and Miami International Airport a short drive away.
The property is near W Flagler Street, with Downtown, Brickell, and Miami International Airport a short drive away.
Key Highlights
- Legal duplex on a 7,100 SF T3‑O lot
- 3,168 SF of living area; 4,106 SF total, including non‑living space
- 3 bedrooms and 3 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,536
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,270,720
$1.3M
Cap Rate 7%
$907,657
$907.7K
Cap Rate 9%
$705,956
$706.0K
Market Conditions
NOI Build-Up for 3,168 SF
Gross rent
$96.9K $30.60/SF
− Vacancy
−$6.2K −$1.95/SF
EGI
$90.8K $28.65/SF
− OpEx
−$27.2K −$8.60/SF
NOI
$63.5K $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 Rate 5%
$1,270,720
Cap Rate 7%
$907,657
Cap Rate 9%
$705,956
Alternative Uses
Best Use
Multifamily LT 5
$907.7K
$794.2K – $1.06M
NOI $63,536 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$836.1K
$731.6K – $975.4K
NOI $58,524 @ 7.0% cap · market cap 8.36%
Theoretical Best
Specialty Retail
$2.14M
$1.87M – $2.49M
NOI $149,689 @ 7.0% cap · market cap 21.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,260
Businesses Nearby
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Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied property near W Flagler Street, with access to Downtown, Brickell, and Miami International Airport.
Where is this duplex located?
The property is located at 2993 SW 2nd Street Miami, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Legal duplex on a 7,100 SF T3‑O lot; 3,168 SF of living area; 4,106 SF total, including non‑living space; 3 bedrooms and 3 bathrooms
