Renovated Triplex with Private
New
For Sale
$779,000
3315 SW 91st Avenue, Miami, FL 33165
Three-unit property with updated interiors, impact windows, and dedicated outdoor space for each unit.
Property Size2,354 SF
Price / SF$386.03
Days on Market3
Property Features for 3315 SW 91st Avenue
General Information
Standard status
Active
Size
2,354 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
5700
Taxes and HOA fees
Annual Taxes
$9,689
Amenities
impact windows
Central AC
mini-splits
private yard space
Building Details
Building Size
2,354 SF
Year Built
1955
Stories
1
Listing Agency:
Florida Premier Realty
Listed By:
Bryan Tirador · License #3231442
(305) 972-5290
Source:
Laerrealty
Added: Sep 13
Changed: Sep 14
Last Checked: Sep 14 at 5:33AM
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 Florida Premier Realty
Investment Insights
Based on property information with market context.
This renovated triplex contains 2,018 square feet and was built in 1955. Improvements include updated kitchens, bathrooms, and flooring throughout, along with impact windows. The front unit has central AC, while the rear units use mini-split systems. Each unit includes its own private yard space, adding separate outdoor areas to the residential configuration.
The roof is approximately 3–4 years old. The property is located at 3315 SW 91st Avenue in Miami, Florida, and carries zoning designation 5700. The three-unit layout, recent improvements, and varied HVAC systems provide a straightforward multifamily configuration.
The roof is approximately 3–4 years old. The property is located at 3315 SW 91st Avenue in Miami, Florida, and carries zoning designation 5700. The three-unit layout, recent improvements, and varied HVAC systems provide a straightforward multifamily configuration.
Key Highlights
- Renovated 2,018‑square‑foot triplex
- Three residential units with private yard space for each
- Updated kitchens, bathrooms, and flooring throughout
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
$40,472
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
5.20%
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%
$809,440
$809.4K
Cap Rate 7%
$578,171
$578.2K
Cap Rate 9%
$449,689
$449.7K
Market Conditions
NOI Build-Up for 2,018 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
$61.8K $30.60/SF
− Vacancy
−$3.9K −$1.95/SF
EGI
$57.8K $28.65/SF
− OpEx
−$17.3K −$8.60/SF
NOI
$40.5K $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 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%
$809,440
Cap Rate 7%
$578,171
Cap Rate 9%
$449,689
Alternative Uses
Best Use
Multifamily LT 5
$578.2K
$505.9K – $674.5K
NOI $40,472 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$532.6K
$466.0K – $621.3K
NOI $37,279 @ 7.0% cap · market cap 4.79%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.59M
NOI $95,351 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,911
Businesses Nearby
Explore this area
Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with updated interiors, impact windows, and dedicated outdoor space for each unit.
Where is this triplex located?
The property is located at 3315 SW 91st Avenue Miami, FL.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Renovated 2,018‑square‑foot triplex; Three residential units with private yard space for each; Updated kitchens, bathrooms, and flooring throughout
