Duplex Site with Approved
For Sale
$700,000
Pending
3565 Southwest 14th Street, Miami, FL 33145
City-approved plans are in place for a new two-unit residential project, with month-to-month tenants currently occupying the property.
Property Size1,771 SF
Lot Size0.11 Acres
Days on Market147
Property Features for 3565 Southwest 14th Street
General Information
Standard status
Pending
Size
1,771 SF
Lot size
0.11 Acres
Property subtype
Multi-Family Income / Duplex
Zoning
T3-O
Additional Details
Asking Price
$700,000
Taxes and HOA fees
Annual Taxes
$7,125
Building Details
Year Built
1936
Listing Agency:
The Corcoran Group
(305) 395-4982
Listed By:
Francisco Neri · License #3529225
(305) 395-4982
Source:
Compass
Added: Apr 6
Changed: Aug 30
Last Checked: Aug 30 at 7:29AM
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 The Corcoran Group
Investment Insights
Based on property information with market context.
This T3-O duplex property includes an existing improvement dating to 1936 and month-to-month tenancy that can continue until redevelopment begins. Municipal approvals are in place for a newly constructed duplex, with 2,070 SF planned for each residence and 4,140 SF across the project. The approved design gives an infill builder or small developer a defined starting point rather than an unentitled concept.
The property is located at 3565 Southwest 14th Street in Miami’s Shenandoah/Little Gables area. Brickell, Coral Gables, Coconut Grove, and Miami International Airport are all described as minutes away. The combination of an approved two-unit plan, interim tenancy, and established Miami location supports a range of residential redevelopment strategies.
The property is located at 3565 Southwest 14th Street in Miami’s Shenandoah/Little Gables area. Brickell, Coral Gables, Coconut Grove, and Miami International Airport are all described as minutes away. The combination of an approved two-unit plan, interim tenancy, and established Miami location supports a range of residential redevelopment strategies.
Key Highlights
- City‑approved plans for a new duplex
- 2,070 SF planned per unit; 4,140 SF total
- T3‑O duplex site in Shenandoah/Little Gables
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
$35,518
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
5.07%
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%
$710,360
$710.4K
Cap Rate 7%
$507,400
$507.4K
Cap Rate 9%
$394,644
$394.6K
Market Conditions
NOI Build-Up for 1,771 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
$54.2K $30.60/SF
− Vacancy
−$3.5K −$1.95/SF
EGI
$50.7K $28.65/SF
− OpEx
−$15.2K −$8.60/SF
NOI
$35.5K $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%
$710,360
Cap Rate 7%
$507,400
Cap Rate 9%
$394,644
Alternative Uses
Best Use
Multifamily LT 5
$507.4K
$444.0K – $592.0K
NOI $35,518 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$467.4K
$409.0K – $545.3K
NOI $32,716 @ 7.0% cap · market cap 4.67%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.39M
NOI $83,681 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,182
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 - City-approved plans are in place for a new two-unit residential project, with month-to-month tenants currently occupying the property.
Where is this duplex located?
The property is located at 3565 Southwest 14th Street Miami, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: City‑approved plans for a new duplex; 2,070 SF planned per unit; 4,140 SF total; T3‑O duplex site in Shenandoah/Little Gables
