3-Unit Triplex with Separate
New
For Sale
$899,999
678 NW 14th Street, Florida City, FL 33034
Each unit has a two-bedroom, one-bath layout with individual water and FPL metering.
Property Size2,340 SF
Price / SF$384.61
Days on Market7
Property Features for 678 NW 14th Street
General Information
Standard status
Active
Size
2,340 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
5700
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,979
Building Details
Building Size
2,340 SF
Year Built
2024
Stories
1
Listing Agency:
The Real Estate Firm Inc
(305) 502-2675
Listed By:
Lourdes Cuenca · License #3296426
(305) 502-2675
Source:
Laerrealty
Added: Aug 18
Changed: Aug 24
Last Checked: Aug 24 at 3:14AM
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 The Real Estate Firm Inc
Investment Insights
Based on property information with market context.
This triplex contains 3 residential units, each configured with 2 bedrooms and 1 bathroom. Separate water meters and separate FPL meters serve the units. The property is fully rented on a month-to-month basis.
Located at 678 NW 14th St in Florida City, the property records a bikeScore of 66, a walkScore of 67, and a transitScore of 44. These scores indicate a bikeable setting, some walkability, and access to some transit.
Located at 678 NW 14th St in Florida City, the property records a bikeScore of 66, a walkScore of 67, and a transitScore of 44. These scores indicate a bikeable setting, some walkability, and access to some transit.
Key Highlights
- 3‑unit triplex with 2 bedrooms and 1 bathroom per unit
- Separate water meters for each unit
- Separate FPL meters for each unit
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
$39,007
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
4.33%
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%
$780,140
$780.1K
Cap Rate 7%
$557,243
$557.2K
Cap Rate 9%
$433,411
$433.4K
Market Conditions
NOI Build-Up for 2,340 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
$59.0K $25.20/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$55.7K $23.81/SF
− OpEx
−$16.7K −$7.14/SF
NOI
$39.0K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$780,140
Cap Rate 7%
$557,243
Cap Rate 9%
$433,411
Alternative Uses
Best Use
Multifamily LT 5
$557.2K
$487.6K – $650.1K
NOI $39,007 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$514.1K
$449.9K – $599.8K
NOI $35,988 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,103 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 33034, FL
22,850
Population
6,631
Households
3.4
Avg Household Size
34
Median Age
9%
College-Educated
65%
High-School Grad
1,173.1 sq mi
ZIP Area
19
Density / Sq Mi
$46,404
Median Household Income
$31,712
Median Earnings
$1,283
Median Rent
$310,700
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?
Triplex - Each unit has a two-bedroom, one-bath layout with individual water and FPL metering.
Where is this triplex located?
The property is located at 678 NW 14th Street Florida City, FL.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: 3‑unit triplex with 2 bedrooms and 1 bathroom per unit; Separate water meters for each unit; Separate FPL meters for each unit
