Two-Story Multifamily
For Sale
$3,990,000
36 Ne 65th St, Miami, FL 33150
Two-level apartment property with a varied unit configuration in Miami’s Little Haiti area.
Property Size15,996 SF
Price / SF$249.44
Days on Market209
Property Features for 36 Ne 65th St
General Information
Standard status
Active
Size
15,996 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$70,741
Building Details
Stories
2
Listing Agency:
Compass Florida, LLC
(305) 209-8866
Listed By:
Arthur Porosoff · License #3160379
(305) 209-8866
Source:
Exprealty
Added: Jan 14
Changed: Aug 11
Last Checked: Aug 11 at 11:17AM
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 Compass Florida, LLC
Investment Insights
Based on property information with market context.
This 15,996-square-foot multifamily property is arranged across two stories and offers a varied apartment mix. The building is located at 36 NE 65th St in Miami, within the Little Haiti area.
The property sits east of North Miami Avenue, with access to the Miami Design District, Wynwood, and Midtown. These nearby districts provide connections to employment, retail, and cultural destinations. The surrounding context includes ongoing redevelopment and investment activity in Little Haiti.
The property sits east of North Miami Avenue, with access to the Miami Design District, Wynwood, and Midtown. These nearby districts provide connections to employment, retail, and cultural destinations. The surrounding context includes ongoing redevelopment and investment activity in Little Haiti.
Key Highlights
- 15,996‑square‑foot multifamily building
- Two‑story apartment property
- Varied unit mix
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
$295,501
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
7.41%
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%
$5,910,020
$5.9M
Cap Rate 7%
$4,221,443
$4.2M
Cap Rate 9%
$3,283,344
$3.3M
Market Conditions
NOI Build-Up for 15,996 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
$575.9K $36.00/SF
− Vacancy
−$38.6K −$2.41/SF
EGI
$537.3K $33.59/SF
− OpEx
−$241.8K −$15.11/SF
NOI
$295.5K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$5,910,020
Cap Rate 7%
$4,221,443
Cap Rate 9%
$3,283,344
Alternative Uses
Best Use
Apartment 5plus
$4.22M
$3.69M – $4.93M
NOI $295,501 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.80M
$9.45M – $12.60M
NOI $755,818 @ 7.0% cap · market cap 18.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,270
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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?
Multifamily property - Two-level apartment property with a varied unit configuration in Miami’s Little Haiti area.
Where is this multifamily property located?
The property is located at 36 Ne 65th St Miami, FL.
What is the asking price?
The asking price for this property is $3,990,000.
What are key features of this property?
This property features: 15,996‑square‑foot multifamily building; Two‑story apartment property; Varied unit mix
