Two-Unit Duplex
For Sale
$899,000
621 Southwest 33rd Avenue, Miami, FL 33135
Two two-bedroom, one-bathroom residences include one unit that is currently leased.
Property Size1,683 SF
Price / SF$534.17
Days on Market362
Property Features for 621 Southwest 33rd Avenue
General Information
Standard status
Active
Size
1,683 SF
Property subtype
Residential Income / Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,340
Building Details
Year Built
1957
Listing Agency:
Luxe Properties
(305) 809-7650
Listed By:
Karen Casanueva · License #3598403
(305) 809-7650
Source:
Compass
Added: Sep 5, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:09AM
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 Luxe Properties
Investment Insights
Based on property information with market context.
This duplex contains 1,683 square feet arranged as two two-bedroom, one-bathroom residences. One unit is currently leased, while the property’s two-unit configuration provides a straightforward residential income setup. Built in 1957, the asset is located at 621 Southwest 33rd Avenue in Miami, Florida 33135.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 bathroom
- 1,683 square feet of total property size
- One unit is currently leased
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
$33,753
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
3.75%
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%
$675,060
$675.1K
Cap Rate 7%
$482,186
$482.2K
Cap Rate 9%
$375,033
$375.0K
Market Conditions
NOI Build-Up for 1,683 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
$51.5K $30.60/SF
− Vacancy
−$3.3K −$1.95/SF
EGI
$48.2K $28.65/SF
− OpEx
−$14.5K −$8.60/SF
NOI
$33.8K $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%
$675,060
Cap Rate 7%
$482,186
Cap Rate 9%
$375,033
Alternative Uses
Best Use
Multifamily LT 5
$482.2K
$421.9K – $562.6K
NOI $33,753 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$444.2K
$388.6K – $518.2K
NOI $31,091 @ 7.0% cap · market cap 3.46%
Theoretical Best
Specialty Retail
$1.14M
$994.0K – $1.33M
NOI $79,523 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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 two-bedroom, one-bathroom residences include one unit that is currently leased.
Where is this duplex located?
The property is located at 621 Southwest 33rd Avenue Miami, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 bathroom; 1,683 square feet of total property size; One unit is currently leased
