Income-Producing Duplex in Active
For Sale
$899,000
Pending
621 SW 33RD Ave, Miami, FL 33135
Move-in ready duplex with immediate returns and appreciation potential.
Property Size1,683 SF
Days on Market269
Property Features for 621 SW 33RD Ave
General Information
Standard status
Pending
Size
1,683 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,340
Building Details
Building Size
1,683 SF
Year Built
1957
Stories
1
Listing Agency:
LUXE Properties LLC
(786) 239-1464
Listed By:
Kenny Cedeno · License #3598403
(786) 239-1464
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 5 at 10:02AM
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 LLC
Investment Insights
Based on property information with market context.
This is a move-in ready, income-producing duplex located in an active market. One unit is already leased. The property offers strong walkability and modern appeal. It offers immediate returns and long-term appreciation potential.
Key Highlights
- Move‑in ready, income‑producing duplex.
- One unit is already leased, providing immediate income.
- Strong walkability to nearby amenities.
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,660
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Move-in ready duplex with immediate returns and appreciation potential.
Where is this duplex located?
The property is located at 621 SW 33RD Ave 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: Move‑in ready, income‑producing duplex.; One unit is already leased, providing immediate income.; Strong walkability to nearby amenities.
