Two-Unit Income
New
For Sale
$1,800,000
3312 NW 5th Ave, Miami, FL 33127
Residential Income, Miami, FL
Property Size2,241 SF
Lot Size7,464.00 Acres
Price / SF$803.21
Days on Market1
Property Features for 3312 NW 5th Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
6107
Bedrooms
5
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 5, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Subdivision
BUENA VISTA EST
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
01-31-25-021-0291
Size
2,241 SF
Lot size
7,464.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BUENA VISTA EST PB 4-191 LOT 7 BLK 3 LOT SIZE 55.700 X 134 OR 15363-2539 0691 4
Tax Annual Amount
25825
Legal Description
BUENA VISTA EST PB 4-191 LOT 7 BLK 3 LOT SIZE 55.700 X 134 OR 15363-2539 0691 4
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1981
Floors in Building
1
Flooring type
Terrazzo
Building materials
Block
Roof type
Composition, Shingle
Listing Agency:
Optimar International Realty
(305) 947-0477
Listed By:
Carmen Jones · License #0672843
(305) 725-1599
Added: Sep 14
Last Checked: Sep 14 at 11:06PM
MLS# A12087488
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 duplex contains 2,241 square feet and was built in 1981 with block construction, terrazzo flooring, central heating, and central air. The property includes two income-producing residences: one offers 3 bedrooms and 2 bathrooms, while the other has 2 bedrooms and 1 bathroom. Public water and sewer serve the property, with a composition and shingle roof.
The 7,464-square-foot parcel is located at 3312 NW 5th Ave in Miami’s Wynwood Arts District, along double-wide NW 5th Avenue between NW 29th Street and NW 36th Street. The surrounding area includes murals, art galleries, boutiques, restaurants, bars, and antique shops, with a landscaped median extending along the avenue.
T5 zoning supports higher-density mixed-use development, including retail, office, and residential uses. The existing two-unit configuration provides current residential income while preserving the stated redevelopment framework.
The 7,464-square-foot parcel is located at 3312 NW 5th Ave in Miami’s Wynwood Arts District, along double-wide NW 5th Avenue between NW 29th Street and NW 36th Street. The surrounding area includes murals, art galleries, boutiques, restaurants, bars, and antique shops, with a landscaped median extending along the avenue.
T5 zoning supports higher-density mixed-use development, including retail, office, and residential uses. The existing two-unit configuration provides current residential income while preserving the stated redevelopment framework.
Key Highlights
- Two‑unit configuration with 3‑bedroom/2‑bathroom and 2‑bedroom/1‑bathroom residences
- 2,241 square feet of building area on a 7,464‑square‑foot lot
- T5 zoning supports higher‑density mixed‑use retail, office, and residential development
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
$52,944
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
2.94%
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%
$1,058,880
$1.1M
Cap Rate 7%
$756,343
$756.3K
Cap Rate 9%
$588,267
$588.3K
Market Conditions
NOI Build-Up for 2,241 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
$94.1K $42.00/SF
− Vacancy
−$9.4K −$4.20/SF
EGI
$84.7K $37.80/SF
− OpEx
−$31.8K −$14.18/SF
NOI
$52.9K $23.63/SF
Area
Miami, FL
Vacancy
10.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,058,880
Cap Rate 7%
$756,343
Cap Rate 9%
$588,267
Alternative Uses
Best Use
Mixed Use
$756.3K
$661.8K – $882.4K
NOI $52,944 @ 7.0% cap · market cap 2.94%
Second Best
Multifamily LT 5
$642.1K
$561.8K – $749.1K
NOI $44,944 @ 7.0% cap · market cap 2.50%
Theoretical Best
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,888 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,320
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - T5-zoned duplex with separate residences and mixed-use development potential in Miami’s Wynwood Arts District.
Where is this duplex located?
The property is located at 3312 NW 5th Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Two‑unit configuration with 3‑bedroom/2‑bathroom and 2‑bedroom/1‑bathroom residences; 2,241 square feet of building area on a 7,464‑square‑foot lot; T5 zoning supports higher‑density mixed‑use retail, office, and residential development
