Single-Story Duplex with
For Sale
$800,000
7358 SW 7360 23rd Street, Miami, FL 33155
Tenant-occupied duplex with two separate units and on-site parking for residents.
Property Size2,715 SF
Price / SF$337.70
Days on Market58
Property Features for 7358 SW 7360 23rd Street
General Information
Standard status
Active
Size
2,715 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
5700
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,144
Building Details
Building Size
2,715 SF
Year Built
1977
Buildings
1
Stories
1
Listing Agency:
Real Estate Sales Force
(786) 457-3211
Listed By:
Antonio Cristobal · License #3253230
(786) 457-3211
Source:
Laerrealty
Added: Jul 5
Changed: Aug 29
Last Checked: Aug 30 at 1:40PM
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 Real Estate Sales Force
Investment Insights
Based on property information with market context.
Built in 1977, this single-story duplex contains 2,369 square feet and is configured as two separate residences. One unit offers 3 bedrooms and 2 baths, while the second provides 2 bedrooms and 1 bath. Both residences are currently tenant-occupied, and the property includes on-site parking for residents.
The duplex is located on Coral Way near Westchester in Miami, with access to major highways, shopping, dining, and schools. Its two-unit layout and existing occupancy provide a straightforward multifamily configuration for an owner or investor evaluating a residential income property.
The duplex is located on Coral Way near Westchester in Miami, with access to major highways, shopping, dining, and schools. Its two-unit layout and existing occupancy provide a straightforward multifamily configuration for an owner or investor evaluating a residential income property.
Key Highlights
- 2,369‑square‑foot duplex built in 1977
- Two separate units: 3 bedrooms/2 baths and 2 bedrooms/1 bath
- Both units are currently tenant‑occupied
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
$47,512
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
5.94%
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%
$950,240
$950.2K
Cap Rate 7%
$678,743
$678.7K
Cap Rate 9%
$527,911
$527.9K
Market Conditions
NOI Build-Up for 2,369 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
$72.5K $30.60/SF
− Vacancy
−$4.6K −$1.95/SF
EGI
$67.9K $28.65/SF
− OpEx
−$20.4K −$8.60/SF
NOI
$47.5K $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%
$950,240
Cap Rate 7%
$678,743
Cap Rate 9%
$527,911
Alternative Uses
Best Use
Multifamily LT 5
$678.7K
$593.9K – $791.9K
NOI $47,512 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$625.2K
$547.0K – $729.4K
NOI $43,763 @ 7.0% cap · market cap 5.47%
Theoretical Best
Specialty Retail
$1.60M
$1.40M – $1.87M
NOI $111,936 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,612
Businesses Nearby
Explore this area
Business Placement
Demographics for 33155, FL
43,695
Population
16,046
Households
2.7
Avg Household Size
45
Median Age
37%
College-Educated
85%
High-School Grad
7.4 sq mi
ZIP Area
5,905
Density / Sq Mi
$79,271
Median Household Income
$41,919
Median Earnings
$1,871
Median Rent
$505,000
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 - Tenant-occupied duplex with two separate units and on-site parking for residents.
Where is this duplex located?
The property is located at 7358 SW 7360 23rd Street Miami, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 2,369‑square‑foot duplex built in 1977; Two separate units: 3 bedrooms/2 baths and 2 bedrooms/1 bath; Both units are currently tenant‑occupied
