Remodeled Duplex with
New
For Sale
$1,200,000
3530 SW 22nd Terrace, Miami, FL 33145
Updated two-unit property with separate floor plans, laundry space, outdoor areas, and parking for multiple vehicles.
Property Size1,840 SF
Price / SF$689.66
Days on Market7
Property Features for 3530 SW 22nd Terrace
General Information
Standard status
Active
Size
1,840 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
5700
Taxes and HOA fees
Annual Taxes
$15,373
Building Details
Building Size
1,840 SF
Year Built
1963
Stories
1
Listing Agency:
Lexan Real Estate, LLC
(786) 277-3194
Listed By:
Arnold Miranda · License #3214786
(786) 277-3194
Source:
Laerrealty
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 12:46PM
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 Lexan Real Estate, LLC
Investment Insights
Based on property information with market context.
This duplex was remodeled in 2024 and includes two distinct residences: one arranged as a one-bedroom, one-bath unit and the other offering two bedrooms and two baths. A dedicated laundry room serves the property, while the spacious front and rear yards provide outdoor space. Parking accommodates up to five vehicles.
The property is positioned one block from Miracle Mile in Coral Gables, with Coconut Gove, Brickell, and Downtown Miami described as minutes away. Built in 1963, the 1,740-square-foot duplex combines updated interiors with a two-unit configuration and established outdoor improvements.
The property is positioned one block from Miracle Mile in Coral Gables, with Coconut Gove, Brickell, and Downtown Miami described as minutes away. Built in 1963, the 1,740-square-foot duplex combines updated interiors with a two-unit configuration and established outdoor improvements.
Key Highlights
- Remodeled in 2024
- Two‑unit layout with 1/1 and 2/2 residences
- 1,740 SF property built in 1963
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
$34,897
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
2.91%
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%
$697,940
$697.9K
Cap Rate 7%
$498,529
$498.5K
Cap Rate 9%
$387,744
$387.7K
Market Conditions
NOI Build-Up for 1,740 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
$53.2K $30.60/SF
− Vacancy
−$3.4K −$1.95/SF
EGI
$49.9K $28.65/SF
− OpEx
−$15.0K −$8.60/SF
NOI
$34.9K $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%
$697,940
Cap Rate 7%
$498,529
Cap Rate 9%
$387,744
Alternative Uses
Best Use
Multifamily LT 5
$498.5K
$436.2K – $581.6K
NOI $34,897 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$459.2K
$401.8K – $535.7K
NOI $32,144 @ 7.0% cap · market cap 2.68%
Theoretical Best
Specialty Retail
$1.17M
$1.03M – $1.37M
NOI $82,216 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,726
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
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 - Updated two-unit property with separate floor plans, laundry space, outdoor areas, and parking for multiple vehicles.
Where is this duplex located?
The property is located at 3530 SW 22nd Terrace Miami, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Remodeled in 2024; Two‑unit layout with 1/1 and 2/2 residences; 1,740 SF property built in 1963
