Three-Bedroom
For Sale
$1,100,000
Pending
3501 Sw 12th St, Miami, FL 33135
Two similarly configured residences offer separate electrical meters and flexible month-to-month occupancy.
Property Size2,430 SF
Days on Market98
Property Features for 3501 Sw 12th St
General Information
Standard status
Pending
Size
2,430 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,821
Listing Agency:
Century 21 BE3
(305) 302-3801
Listed By:
Alberto Muguercia
(305) 302-3801
Source:
Exprealty
Added: May 18
Changed: Aug 21
Last Checked: Aug 23 at 7:15AM
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 Century 21 BE3
Investment Insights
Based on property information with market context.
This duplex contains two 3-bedroom, 2-bathroom residences totaling 2,430 square feet. Both units have been refreshed in recent years and are equipped with well-maintained A/C units. One residence, Unit 3503, also provides a separate entrance option. Separate electrical meters serve the units, while water is shared and allocated 60/40 on a quarterly basis.
The property is occupied by long-term tenants, with both tenancies structured month-to-month. The roof is a few years old. The address is 3501 SW 12th St in Miami, near restaurants, expressways, Coral Gables, and Calle Ocho. Showings are available by appointment, with tenant privacy requested.
The property is occupied by long-term tenants, with both tenancies structured month-to-month. The roof is a few years old. The address is 3501 SW 12th St in Miami, near restaurants, expressways, Coral Gables, and Calle Ocho. Showings are available by appointment, with tenant privacy requested.
Key Highlights
- Two 3‑bedroom, 2‑bathroom units totaling 2,430 square feet
- Both residences refreshed in recent years
- Unit 3503 includes a separate entrance option
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
$48,735
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
4.43%
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%
$974,700
$974.7K
Cap Rate 7%
$696,214
$696.2K
Cap Rate 9%
$541,500
$541.5K
Market Conditions
NOI Build-Up for 2,430 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
$74.4K $30.60/SF
− Vacancy
−$4.7K −$1.95/SF
EGI
$69.6K $28.65/SF
− OpEx
−$20.9K −$8.60/SF
NOI
$48.7K $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%
$974,700
Cap Rate 7%
$696,214
Cap Rate 9%
$541,500
Alternative Uses
Best Use
Multifamily LT 5
$696.2K
$609.2K – $812.3K
NOI $48,735 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$641.3K
$561.1K – $748.2K
NOI $44,890 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$1.64M
$1.44M – $1.91M
NOI $114,819 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,929
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two similarly configured residences offer separate electrical meters and flexible month-to-month occupancy.
Where is this duplex located?
The property is located at 3501 Sw 12th St Miami, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bathroom units totaling 2,430 square feet; Both residences refreshed in recent years; Unit 3503 includes a separate entrance option
