Two-Unit Duplex with New
For Sale
Contact for pricing
5800 NE 3rd Ave, Miami, FL 33137
Two matching residences offer dedicated parking, fenced carport areas, and a washer-dryer closet.
Property Size1,720 SF
Price / SF$418.02
Days on Market11
Property Features for 5800 NE 3rd Ave
General Information
Standard status
Active
Size
1,720 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
5700
Additional Details
Gross Income
$55,200
Amenities
washer dryer closet
Building Details
Year Built
1957
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
Douglas Elliman
(305) 695-6300
Listed By:
Joseph Azar · License #3375463
Source:
Crexi
Added: Jul 28
Changed: Aug 3
Last Checked: Aug 6 at 1:46PM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
This 1,720-square-foot duplex, built in 1957, contains two residences, each configured with 2 bedrooms and 1 bathroom. The property has a brand-new roof, a washer-dryer closet, and fenced carport parking assigned to each unit. Four parking spaces are provided overall.
The property is located at 5800 NE 3rd Ave, one block from Biscayne Blvd in Miami’s MiMo area. Morningside Park, Buena Vista, the Design District, Wynwood, Edgewater, and Midtown Miami are identified in the surrounding area, with Miami Beach approximately a 10-15 minute drive away. The property is listed under zoning designation 5700.
The property is located at 5800 NE 3rd Ave, one block from Biscayne Blvd in Miami’s MiMo area. Morningside Park, Buena Vista, the Design District, Wynwood, Edgewater, and Midtown Miami are identified in the surrounding area, with Miami Beach approximately a 10-15 minute drive away. The property is listed under zoning designation 5700.
Key Highlights
- Two‑unit duplex with 1,720 SF of building area
- Each unit includes 2 bedrooms and 1 bathroom
- Brand‑new roof
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
$34,496
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
4.80%
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%
$689,920
$689.9K
Cap Rate 7%
$492,800
$492.8K
Cap Rate 9%
$383,289
$383.3K
Market Conditions
NOI Build-Up for 1,720 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
$52.6K $30.60/SF
− Vacancy
−$3.4K −$1.95/SF
EGI
$49.3K $28.65/SF
− OpEx
−$14.8K −$8.60/SF
NOI
$34.5K $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%
$689,920
Cap Rate 7%
$492,800
Cap Rate 9%
$383,289
Alternative Uses
Best Use
Multifamily LT 5
$492.8K
$431.2K – $574.9K
NOI $34,496 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$453.9K
$397.2K – $529.6K
NOI $31,774 @ 7.0% cap · market cap 4.42%
Theoretical Best
Specialty Retail
$1.16M
$1.02M – $1.35M
NOI $81,271 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,068
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
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 - Two matching residences offer dedicated parking, fenced carport areas, and a washer-dryer closet.
Where is this duplex located?
The property is located at 5800 NE 3rd Ave Miami, FL.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,720 SF of building area; Each unit includes 2 bedrooms and 1 bathroom; Brand‑new roof
