Triplex Residential Income
For Sale
$770,000
323 NW 56th Ave, Miami, FL 33126
Well-suited for an investor, this triplex offers residential income in Miami.
Property Size1,345 SF
Price / SF$572.49
Days on Market54
Property Features for 323 NW 56th Ave
General Information
Standard status
Active
Size
1,345 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$8,764
Building Details
Building Size
1,345 SF
Year Built
1955
Listing Agency:
Keller Williams Capital Realty
Listed By:
Malgorzata Sadowska · License #3313909
(202) 236-7040
Source:
Allyandaj
Added: Jul 16
Changed: Sep 7
Last Checked: Sep 7 at 7:03AM
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 Keller Williams Capital Realty
Investment Insights
Based on property information with market context.
This property is a triplex designed as residential income housing. It includes three separate dwelling units under one ownership, providing a straightforward multifamily structure for an investor seeking rental income.
The asset is located at 323 NW 56th Ave in Miami, Florida, and is being offered for sale.
With its triplex configuration, the property is suited for buyers looking to own a small, multi-unit residential income asset.
The asset is located at 323 NW 56th Ave in Miami, Florida, and is being offered for sale.
With its triplex configuration, the property is suited for buyers looking to own a small, multi-unit residential income asset.
Key Highlights
- Triplex with residential rental income
- Built in 1955
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
$26,975
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
3.50%
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%
$539,500
$539.5K
Cap Rate 7%
$385,357
$385.4K
Cap Rate 9%
$299,722
$299.7K
Market Conditions
NOI Build-Up for 1,345 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
$41.2K $30.60/SF
− Vacancy
−$2.6K −$1.95/SF
EGI
$38.5K $28.65/SF
− OpEx
−$11.6K −$8.60/SF
NOI
$27.0K $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%
$539,500
Cap Rate 7%
$385,357
Cap Rate 9%
$299,722
Alternative Uses
Best Use
Multifamily LT 5
$385.4K
$337.2K – $449.6K
NOI $26,975 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$355.0K
$310.6K – $414.1K
NOI $24,847 @ 7.0% cap · market cap 3.23%
Theoretical Best
Specialty Retail
$907.9K
$794.4K – $1.06M
NOI $63,552 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,207
Businesses Nearby
Explore this area
Business Placement
Demographics for 33126, FL
48,751
Population
19,725
Households
2.5
Avg Household Size
44
Median Age
28%
College-Educated
77%
High-School Grad
5.4 sq mi
ZIP Area
9,028
Density / Sq Mi
$55,722
Median Household Income
$32,607
Median Earnings
$1,651
Median Rent
$299,800
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?
Triplex - Well-suited for an investor, this triplex offers residential income in Miami.
Where is this triplex located?
The property is located at 323 NW 56th Ave Miami, FL.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: Triplex with residential rental income; Built in 1955
