Income-Producing Duplex with Corner
For Sale
Contact for pricing
Pending
6701 NW 5th Ave, Miami, FL 33150
Two-unit duplex with renovated kitchens and direct access to a large shared back patio on a double corner lot.
Property Size1,408 SF
Days on Market168
Property Features for 6701 NW 5th Ave
General Information
Standard status
Pending
Size
1,408 SF
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
5700
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1954
Listing Agency:
EXP Realty LLC
Listed By:
Zuleyna Romero · License #3518882
(786) 208-5216
Source:
Crexi
Added: Mar 26
Changed: Aug 8
Last Checked: Jul 24 at 3:03PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This income-producing duplex offers two separate 2-bedroom, 1-bath units on a double corner lot with no HOA. Unit 6701 features tile floors and a renovated kitchen, along with large bedrooms with built-in closets and a shower/tub combo bathroom. Unit 6703 features wood floors and a renovated kitchen, and also includes large bedrooms with built-in closets and a shower/tub combo bathroom. Both units provide access to a large back patio area that is shared.
The property is centrally located and offers proximity to I-95 for access to major areas, including approximately 7 miles to Miami International Airport, 5 miles to Downtown Miami, and about 9 miles to Miami Beach. The corner positioning provides added privacy and additional space for potential future expansion.
As listed, there is ample space to build an additional unit or a second duplex on the site, supporting flexible development possibilities while maintaining the existing two-unit configuration.
The property is centrally located and offers proximity to I-95 for access to major areas, including approximately 7 miles to Miami International Airport, 5 miles to Downtown Miami, and about 9 miles to Miami Beach. The corner positioning provides added privacy and additional space for potential future expansion.
As listed, there is ample space to build an additional unit or a second duplex on the site, supporting flexible development possibilities while maintaining the existing two-unit configuration.
Key Highlights
- Income‑producing duplex built in 1954 with no HOA
- Double corner lot with space for potential expansion, including adding an additional unit or second duplex
- Unit 6701: 2 bed/1 bath with tile floors and a renovated kitchen
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
$28,238
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
4.71%
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%
$564,760
$564.8K
Cap Rate 7%
$403,400
$403.4K
Cap Rate 9%
$313,756
$313.8K
Market Conditions
NOI Build-Up for 1,408 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
$43.1K $30.60/SF
− Vacancy
−$2.7K −$1.95/SF
EGI
$40.3K $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%
$564,760
Cap Rate 7%
$403,400
Cap Rate 9%
$313,756
Alternative Uses
Best Use
Multifamily LT 5
$403.4K
$353.0K – $470.6K
NOI $28,238 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$371.6K
$325.1K – $433.5K
NOI $26,011 @ 7.0% cap · market cap 4.34%
Theoretical Best
Specialty Retail
$950.4K
$831.6K – $1.11M
NOI $66,529 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,303
Businesses Nearby
Explore this area
Business Placement
Demographics for 33150, FL
28,703
Population
12,403
Households
2.3
Avg Household Size
37
Median Age
14%
College-Educated
75%
High-School Grad
3.5 sq mi
ZIP Area
8,201
Density / Sq Mi
$40,802
Median Household Income
$32,359
Median Earnings
$1,179
Median Rent
$377,700
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-unit duplex with renovated kitchens and direct access to a large shared back patio on a double corner lot.
Where is this duplex located?
The property is located at 6701 NW 5th Ave 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: Income‑producing duplex built in 1954 with no HOA; Double corner lot with space for potential expansion, including adding an additional unit or second duplex; Unit 6701: 2 bed/1 bath with tile floors and a renovated kitchen
