Duplex
New
For Sale
$1,250,000
3788 SW 27th Ln, Miami, FL 33134
Built in 1947 near shopping, dining, and Miracle Mile.
Property Size1,980 SF
Days on Market7
Property Features for 3788 SW 27th Ln
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$14,443
Building Details
Building Size
1,980 SF
Year Built
1947
Listing Agency:
Lifestyle International Realty
(786) 449-0747
Listed By:
Richard Mendez · License #3322376
Source:
Luxeknows
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 23 at 8:01AM
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 Lifestyle International Realty
Investment Insights
Based on property information with market context.
This duplex property was constructed in 1947 and is located at 3788 SW 27th Ln in Miami. Its classification as a duplex supports an income-property profile within an established residential setting.
The property is near The Shops at Merrick Park, with access to shopping and dining. Miracle Mile is also identified in the surrounding area, adding another nearby commercial and cultural destination.
The property is near The Shops at Merrick Park, with access to shopping and dining. Miracle Mile is also identified in the surrounding area, adding another nearby commercial and cultural destination.
Key Highlights
- Duplex property built in 1947
- Located at 3788 SW 27th Ln, Miami, FL 33134
- Near The Shops at Merrick Park
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
$39,710
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
3.18%
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%
$794,200
$794.2K
Cap Rate 7%
$567,286
$567.3K
Cap Rate 9%
$441,222
$441.2K
Market Conditions
NOI Build-Up for 1,980 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
$60.6K $30.60/SF
− Vacancy
−$3.9K −$1.95/SF
EGI
$56.7K $28.65/SF
− OpEx
−$17.0K −$8.60/SF
NOI
$39.7K $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%
$794,200
Cap Rate 7%
$567,286
Cap Rate 9%
$441,222
Alternative Uses
Best Use
Multifamily LT 5
$567.3K
$496.4K – $661.8K
NOI $39,710 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$522.5K
$457.2K – $609.6K
NOI $36,577 @ 7.0% cap · market cap 2.93%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,556 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,488
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Built in 1947 near shopping, dining, and Miracle Mile.
Where is this duplex located?
The property is located at 3788 SW 27th Ln Miami, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Duplex property built in 1947; Located at 3788 SW 27th Ln, Miami, FL 33134; Near The Shops at Merrick Park
