Duplex with Ancillary
New
For Sale
$995,000
5145 NW 5th Ave, Miami, FL 33127
Two separate living units support flexible residential use with independent electric and water metering.
Property Size2,145 SF
Price / SF$463.87
Days on Market6
Property Features for 5145 NW 5th Ave
General Information
Standard status
Active
Size
2,145 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,921
Building Details
Building Size
2,145 SF
Year Built
1946
Listing Agency:
LoKation
Listed By:
Marsha Edwards · License #3238169
(954) 545-5583
Source:
Casacollectiongroup
Added: Sep 2
Changed: Sep 5
Last Checked: Sep 7 at 7:55AM
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 LoKation
Investment Insights
Based on property information with market context.
This 2,145-square-foot duplex, built in 1946, includes a four-bedroom, two-bath main residence and a separate one-bedroom, one-bath cottage identified as an ancillary unit. The two-part layout provides distinct living areas within one property, with separate electric and water meters serving the units.
Located at 5145 NW 5th Ave in Miami, the property offers access to the Miami Design District, Wynwood, Midtown, Downtown Miami, major highways, shopping, dining, Miami International Airport, and Miami Beach. Its West Buena Vista setting places multiple established Miami destinations within the surrounding area.
Located at 5145 NW 5th Ave in Miami, the property offers access to the Miami Design District, Wynwood, Midtown, Downtown Miami, major highways, shopping, dining, Miami International Airport, and Miami Beach. Its West Buena Vista setting places multiple established Miami destinations within the surrounding area.
Key Highlights
- 2,145‑square‑foot duplex built in 1946
- Main residence includes 4 bedrooms and 2 bathrooms
- Separate 1‑bedroom, 1‑bath ancillary cottage
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
$43,019
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
4.32%
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%
$860,380
$860.4K
Cap Rate 7%
$614,557
$614.6K
Cap Rate 9%
$477,989
$478.0K
Market Conditions
NOI Build-Up for 2,145 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
$65.6K $30.60/SF
− Vacancy
−$4.2K −$1.95/SF
EGI
$61.5K $28.65/SF
− OpEx
−$18.4K −$8.60/SF
NOI
$43.0K $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%
$860,380
Cap Rate 7%
$614,557
Cap Rate 9%
$477,989
Alternative Uses
Best Use
Multifamily LT 5
$614.6K
$537.7K – $717.0K
NOI $43,019 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$566.1K
$495.3K – $660.4K
NOI $39,625 @ 7.0% cap · market cap 3.98%
Theoretical Best
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,352 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,424
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
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 - Two separate living units support flexible residential use with independent electric and water metering.
Where is this duplex located?
The property is located at 5145 NW 5th Ave Miami, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 2,145‑square‑foot duplex built in 1946; Main residence includes 4 bedrooms and 2 bathrooms; Separate 1‑bedroom, 1‑bath ancillary cottage
