Miami Duplex Redevelopment
3501 SW 16th Ter, Miami, FL 33145
Duplex near Coral Gables with redevelopment potential.
Type:Multifamily
Property size:
2,036 SFPrice / SF:
$380/SF- Added:
- Mar 13, 2026
- Days on Market:
- 80
- Last Refresh:
- Mar 19 at 11:28 pm
Property Features for 3501 SW 16th Ter
General Information
- Standard status
- Active
- Size
- 2,036 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1947
Listing agent Rosa Sklavounos License #3063328
Listing office Douglas Elliman
Listing date Mar 13, 2026
Source Crexi
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 Douglas Elliman
HighLights
- Prime Miami location steps from Coral Gables
- Redevelopment opportunity: Land use may allow up to 9 units (buyer to verify)
- Strong rental income potential; existing duplex with potential to convert into 4 units
- Located in Flood Zone X with no HOA
- Equipped with accordion shutters and tankless water heater
- Centrally located minutes from Coconut Grove, Brickell, Downtown Miami, Miami Beach, University of Miami, Miracle Mile, and Miami International Airport
Overview
Located in Miami, this property presents an investment and redevelopment opportunity near Coral Gables. The existing duplex offers rental potential and the possibility of conversion into four units. The property features accordion shutters and a tankless water heater. The upper unit includes hardwood floors under the carpet and teak closets. Situated in Flood Zone X, the property has no HOA. Land use may allow for the development of up to nine units, although buyers should verify zoning and redevelopment options. The property is centrally located minutes from Coconut Grove, Brickell, Downtown Miami, Miami Beach, University of Miami, Miracle Mile, and Miami International Airport. The property is tenant-occupied on a month-to-month basis and has a size of 2036 square feet.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.3k | $30.60 |
| − Vacancy | −$4.0k | −$1.95 |
| EGI | $58.3k | $28.65 |
| − OpEx | −$17.5k | −$8.60 |
| NOI | $40.8k | $20.06 |
2,036 SF · lease $30.60/SF/yr · vacancy 6.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$583.3K
$510.4K – $680.6K
NOI $40,833 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$537.3K
$470.2K – $626.9K
NOI $37,612 @ 7.0% cap · market cap 4.85%
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,202 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-Dade
- State
- Florida
- Longitude
- -80.252898
- Latitude
- 25.789707
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Duplex near Coral Gables with redevelopment potential.
Where is this duplex located?
The property is located at 3501 SW 16th Ter Miami, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Prime Miami location steps from Coral Gables; Redevelopment opportunity: Land use may allow up to 9 units (buyer to verify); Strong rental income potential; existing duplex with potential to convert into 4 units
