Two-Unit Frame
For Sale
$600,000
474 Northwest 26th Avenue, Miami, FL 33125
Built in 1948, the property has established tenancy and requires a drive-by review before a contracted showing.
Property Size1,404 SF
Price / SF$427.35
Days on Market142
Property Features for 474 Northwest 26th Avenue
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Multi-Family Income / Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,803
Building Details
Year Built
1948
Construction
frame
Tenancy
Multi
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Jeffrey Stone · License #0605746
(305) 405-0615
Source:
Compass
Added: Apr 13
Changed: Aug 30
Last Checked: Aug 31 at 9:59PM
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 Beachfront Realty Inc
Investment Insights
Based on property information with market context.
This two-unit duplex is a frame construction property totaling 1,404 square feet and dating to 1948. Both units are occupied by tenants who have remained in place for many years, providing established tenancy at the property.
Located at 474 Northwest 26th Avenue in Miami, the property is available for drive-by review only at this stage. Interior access may be arranged for a prospective buyer after a contract is in place, and tenant privacy is to be respected.
Located at 474 Northwest 26th Avenue in Miami, the property is available for drive-by review only at this stage. Interior access may be arranged for a prospective buyer after a contract is in place, and tenant privacy is to be respected.
Key Highlights
- Two‑unit duplex with frame construction
- 1,404 square feet of property area
- Built in 1948
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
$28,158
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
4.69%
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%
$563,160
$563.2K
Cap Rate 7%
$402,257
$402.3K
Cap Rate 9%
$312,867
$312.9K
Market Conditions
NOI Build-Up for 1,404 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
$43.0K $30.60/SF
− Vacancy
−$2.7K −$1.95/SF
EGI
$40.2K $28.65/SF
− OpEx
−$12.1K −$8.60/SF
NOI
$28.2K $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%
$563,160
Cap Rate 7%
$402,257
Cap Rate 9%
$312,867
Alternative Uses
Best Use
Multifamily LT 5
$402.3K
$352.0K – $469.3K
NOI $28,158 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$370.5K
$324.2K – $432.3K
NOI $25,937 @ 7.0% cap · market cap 4.32%
Theoretical Best
Specialty Retail
$947.7K
$829.3K – $1.11M
NOI $66,340 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,327
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
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?
Duplex - Built in 1948, the property has established tenancy and requires a drive-by review before a contracted showing.
Where is this duplex located?
The property is located at 474 Northwest 26th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two‑unit duplex with frame construction; 1,404 square feet of property area; Built in 1948
