Three-Unit Multifamily
For Sale
$1,575,000
440-442 SW 81st Ave, Miami, FL 33144
Three occupied dwellings sit within a fenced property near major roadways, schools, shopping centers, and Miami International Airport.
Property Size4,436 SF
Lot Size0.28 Acres
Price / SF$355.05
Days on Market81
Property Features for 440-442 SW 81st Ave
General Information
Standard status
Active
Size
4,436 SF
Lot size
0.28 Acres
Property subtype
Duplex
Occupancy
100%
Financials
Asking Price
$1,575,000
Gross Income
$108,000
Units
Unit Mix
2 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,770
Building Details
Building Size
4,436 SF
Year Built
1955
Listing Agency:
Homes Depot USA R.E. Inc.
Listed By:
Sonia Batista · License #0322870
(305) 216-1866
Source:
Miamibrokersgroup
Added: Jul 14
Changed: Oct 1
Last Checked: Oct 1 at 11:25AM
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 Homes Depot USA R.E. Inc.
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains approximately 4,436 square feet of living area on a 12,197-square-foot lot. The current layout includes two residences with three bedrooms and two bathrooms each, plus a one-bedroom, one-bathroom apartment. The property is tenant-occupied and entirely fenced; both residences have been updated. The building was constructed in 1955.
The property is near major roadways, Miami International Airport, schools, and shopping centers.
The property is near major roadways, Miami International Airport, schools, and shopping centers.
Key Highlights
- Approximately 4,436 square feet of living area
- 12,197‑square‑foot lot
- Two 3‑bedroom, 2‑bathroom residences and one 1‑bedroom, 1‑bathroom apartment
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
$88,966
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
5.65%
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%
$1,779,320
$1.8M
Cap Rate 7%
$1,270,943
$1.3M
Cap Rate 9%
$988,511
$988.5K
Market Conditions
NOI Build-Up for 4,436 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
$135.7K $30.60/SF
− Vacancy
−$8.6K −$1.95/SF
EGI
$127.1K $28.65/SF
− OpEx
−$38.1K −$8.60/SF
NOI
$89.0K $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%
$1,779,320
Cap Rate 7%
$1,270,943
Cap Rate 9%
$988,511
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,966 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.37M
NOI $81,948 @ 7.0% cap · market cap 5.20%
Theoretical Best
Specialty Retail
$2.99M
$2.62M – $3.49M
NOI $209,603 @ 7.0% cap · market cap 13.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,752
Businesses Nearby
Explore this area
Business Placement
Demographics for 33144, FL
25,814
Population
9,665
Households
2.7
Avg Household Size
48
Median Age
28%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
8,327
Density / Sq Mi
$59,207
Median Household Income
$35,051
Median Earnings
$1,730
Median Rent
$440,600
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 - Three occupied dwellings sit within a fenced property near major roadways, schools, shopping centers, and Miami International Airport.
Where is this triplex located?
The property is located at 440-442 SW 81st Ave Miami, FL.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Approximately 4,436 square feet of living area; 12,197‑square‑foot lot; Two 3‑bedroom, 2‑bathroom residences and one 1‑bedroom, 1‑bathroom apartment
