Triplex Property With Additional
New
For Sale
$1,100,000
36 W 37th St, Hialeah, FL 33012
Rented multifamily property with separate electric metering, assigned parking, and mixed central and mini-split cooling.
Property Size3,030 SF
Days on Market6
Property Features for 36 W 37th St
General Information
Standard status
Active
Size
3,030 SF
Property subtype
Triplex
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,205
Amenities
assigned parking
central air conditioning
Building Details
Building Size
3,030 SF
Year Built
1966
Listing Agency:
London Foster Realty
Listed By:
Claudia Patino · License #0604758
(786) 295-1295
Source:
Relinkre
Added: Aug 30
Changed: Sep 3
Last Checked: Sep 2 at 9:20PM
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 London Foster Realty
Investment Insights
Based on property information with market context.
This multifamily property includes a triplex plus an additional 1/1 unit, with all units currently rented. The improvements feature tile flooring throughout, three separate electric meters, and assigned parking spaces. Three units have central A/C, while a new mini-split system is planned for the remaining unit. Built in 1966, the property has also passed the City of Hialeah recertification inspection.
The property is located at 36 W 37th St in Hialeah, near public transportation, shopping, major roadways, and everyday necessities. Its existing tenant occupancy and established unit configuration provide a clearly defined multifamily operating profile.
The property is located at 36 W 37th St in Hialeah, near public transportation, shopping, major roadways, and everyday necessities. Its existing tenant occupancy and established unit configuration provide a clearly defined multifamily operating profile.
Key Highlights
- Triplex plus an additional 1/1 unit
- All units are currently rented
- Three separate electric meters
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
$43,555
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
3.96%
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%
$871,100
$871.1K
Cap Rate 7%
$622,214
$622.2K
Cap Rate 9%
$483,944
$483.9K
Market Conditions
NOI Build-Up for 3,030 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
$67.3K $22.20/SF
− Vacancy
−$5.0K −$1.67/SF
EGI
$62.2K $20.54/SF
− OpEx
−$18.7K −$6.16/SF
NOI
$43.6K $14.37/SF
Area
Hialeah, FL
Vacancy
7.50%
Lease Rate
$22.20 /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%
$871,100
Cap Rate 7%
$622,214
Cap Rate 9%
$483,944
Alternative Uses
Best Use
Multifamily LT 5
$622.2K
$544.4K – $725.9K
NOI $43,555 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$579.6K
$507.2K – $676.3K
NOI $40,575 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,483 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,590
Businesses Nearby
Explore this area
Business Placement
Demographics for 33012, FL
70,260
Population
25,923
Households
2.7
Avg Household Size
48
Median Age
18%
College-Educated
72%
High-School Grad
5.9 sq mi
ZIP Area
11,908
Density / Sq Mi
$45,818
Median Household Income
$32,039
Median Earnings
$1,562
Median Rent
$355,600
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?
Triplex - Rented multifamily property with separate electric metering, assigned parking, and mixed central and mini-split cooling.
Where is this triplex located?
The property is located at 36 W 37th St Hialeah, 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: Triplex plus an additional 1/1 unit; All units are currently rented; Three separate electric meters
