Updated Triplex with Separate
For Sale
$770,000
323 NW 56th Ave, Miami, FL 33126
Residential Income, Miami, FL
Property Size1,345 SF
Price / SF$572.49
Days on Market45
Property Features for 323 NW 56th Ave
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
5700
Bedrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 1
Parking
7
Security features
Security
Patio and Porch features
Porch
Exterior features
Fence, Fruit Trees, Lighting, Porch, Room For Pool, Shed, Security/High Impact Doors
Fencing
Fenced
Subdivision
IDEAL HOMES SUB NO 7
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-06-066-0070
Size
1,345 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
IDEAL HOMES SUB NO 7 PB 61-13 LOT 7 BLK 1 LOT SIZE 65.000 X 104
Tax Annual Amount
8764
Legal Description
IDEAL HOMES SUB NO 7 PB 61-13 LOT 7 BLK 1 LOT SIZE 65.000 X 104
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric, Zoned
Water source
Public
Building Details
Year built
1955
Floors in Building
1
Flooring type
Laminate, Tile, Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
Keller Williams Capital Realty · Keller Williams Realty
(305) 662-7325
Listed By:
Malgorzata Sadowska · License #3313909
(305) 204-2462
Added: Jul 18
Changed: Aug 30
Last Checked: Aug 31 at 8:06PM
MLS# A12053829
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.
Investment Insights
Based on property information with market context.
This triplex property includes a 1,345-square-foot primary residence with a three-bedroom layout, separate living quarters, an open interior arrangement, a kitchen with full-height cabinetry, laundry space, and an upgraded bathroom. The improvements include a new shingle roof, central air conditioning, updated plumbing and electrical systems, and hurricane-impact windows and doors. Ceramic tile and laminate flooring are installed throughout the property.
The fenced exterior includes a porch, travertine tile accents, fruit trees, exterior lighting, and a gated side area suitable for boat parking. A circular driveway and an additional driveway provide parking for up to 7 cars. The property also includes a separate 90-square-foot unfinished storage room, public water and sewer service, and block construction.
The fenced exterior includes a porch, travertine tile accents, fruit trees, exterior lighting, and a gated side area suitable for boat parking. A circular driveway and an additional driveway provide parking for up to 7 cars. The property also includes a separate 90-square-foot unfinished storage room, public water and sewer service, and block construction.
Key Highlights
- 1,345‑square‑foot triplex property with separate living quarters
- Primary residence includes 3 bedrooms and an open interior layout
- New shingle roof, central air conditioning, plumbing, and electrical systems
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
Property Profile
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 - Residential income property with a renovated primary home, additional living space, secure fencing, and substantial on-site parking.
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: 1,345‑square‑foot triplex property with separate living quarters; Primary residence includes 3 bedrooms and an open interior layout; New shingle roof, central air conditioning, plumbing, and electrical systems
