Duplex Residential Income
For Sale
$3,700,000
420 NE 62nd St, Miami, FL 33138
For sale duplex/residential income multifamily property at 420 NE 62nd St in Miami.
Property Size5,572 SF
Days on Market53
Property Features for 420 NE 62nd St
General Information
Standard status
Active
Size
5,572 SF
Property subtype
Duplex
Building Details
Building Size
5,572 SF
Year Built
2026
Listing Agency:
ACC Realty, Inc.
Listed By:
Christina Fernandez · License #3290813
(312) 671-2908
Source:
Relinkre
Added: Jul 23
Changed: Sep 8
Last Checked: Sep 13 at 12:29PM
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 ACC Realty, Inc.
Investment Insights
Based on property information with market context.
This for-sale residential income property is presented as a duplex, part of the wider category of multifamily properties. It is listed under residential income properties, offering an income-focused structure consistent with duplex-style ownership.
The property is located at 420 NE 62nd St, Miami, FL 33138. As provided, the listing includes a total property size of 5,572 (units not specified in the source data), supporting a duplex configuration.
Buyers and brokers can review the available details for unit layout and income potential as part of due diligence, with the understanding that the asset is marketed as a duplex within the residential income/multifamily property type.
The property is located at 420 NE 62nd St, Miami, FL 33138. As provided, the listing includes a total property size of 5,572 (units not specified in the source data), supporting a duplex configuration.
Buyers and brokers can review the available details for unit layout and income potential as part of due diligence, with the understanding that the asset is marketed as a duplex within the residential income/multifamily property type.
Key Highlights
- Duplex/residential income multifamily property for sale
- Year built: 2026
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
$111,750
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
3.02%
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%
$2,235,000
$2.2M
Cap Rate 7%
$1,596,429
$1.6M
Cap Rate 9%
$1,241,667
$1.2M
Market Conditions
NOI Build-Up for 5,572 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
$170.5K $30.60/SF
− Vacancy
−$10.9K −$1.95/SF
EGI
$159.6K $28.65/SF
− OpEx
−$47.9K −$8.60/SF
NOI
$111.7K $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%
$2,235,000
Cap Rate 7%
$1,596,429
Cap Rate 9%
$1,241,667
Alternative Uses
Best Use
Multifamily LT 5
$1.60M
$1.40M – $1.86M
NOI $111,750 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$1.47M
$1.29M – $1.72M
NOI $102,934 @ 7.0% cap · market cap 2.78%
Theoretical Best
Specialty Retail
$3.76M
$3.29M – $4.39M
NOI $263,280 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - For sale duplex/residential income multifamily property at 420 NE 62nd St in Miami.
Where is this duplex located?
The property is located at 420 NE 62nd St Miami, FL.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: Duplex/residential income multifamily property for sale; Year built: 2026
