Two-Story
For Sale
$1,200,000
767 SW 2nd Street, Miami, FL 33130
Fully leased multifamily asset near Brickell, Downtown Miami, shopping, dining, transit, entertainment, and major highways.
Property Size3,789 SF
Days on Market176
Property Features for 767 SW 2nd Street
General Information
Standard status
Active
Size
3,789 SF
Property subtype
Quadruplex
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$19,070
Building Details
Building Size
3,789 SF
Year Built
1924
Stories
2
Listing Agency:
RE/MAX - City Centre Realty
(786) 797-6033
Listed By:
Alexander Ferran · License #3408304
(786) 797-6033
Source:
Silverleafrealtygroup
Added: Feb 17
Changed: Aug 2
Last Checked: Aug 12 at 3:01PM
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 RE/MAX - City Centre Realty
Investment Insights
Based on property information with market context.
This two-story quadplex was built in 1924 and is fully leased, providing an established multifamily configuration in Miami’s 33130 area. The property is positioned as a residential income asset with existing occupancy in place.
The building is near Brickell and Downtown Miami, with convenient access to major highways, public transportation, shopping, dining, and entertainment. Its central setting places multiple urban amenities and transportation options within a short distance.
The building is near Brickell and Downtown Miami, with convenient access to major highways, public transportation, shopping, dining, and entertainment. Its central setting places multiple urban amenities and transportation options within a short distance.
Key Highlights
- Two‑story quadplex built in 1924
- Fully leased multifamily property
- Located in Miami, FL 33130
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
$75,990
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
6.33%
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%
$1,519,800
$1.5M
Cap Rate 7%
$1,085,571
$1.1M
Cap Rate 9%
$844,333
$844.3K
Market Conditions
NOI Build-Up for 3,789 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
$115.9K $30.60/SF
− Vacancy
−$7.4K −$1.95/SF
EGI
$108.6K $28.65/SF
− OpEx
−$32.6K −$8.60/SF
NOI
$76.0K $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%
$1,519,800
Cap Rate 7%
$1,085,571
Cap Rate 9%
$844,333
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$949.9K – $1.27M
NOI $75,990 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$999.9K
$875.0K – $1.17M
NOI $69,996 @ 7.0% cap · market cap 5.83%
Theoretical Best
Specialty Retail
$2.56M
$2.24M – $2.98M
NOI $179,032 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
5,110
Businesses Nearby
Explore this area
Business Placement
Demographics for 33130, FL
35,609
Population
20,377
Households
1.7
Avg Household Size
36
Median Age
42%
College-Educated
81%
High-School Grad
1.1 sq mi
ZIP Area
32,372
Density / Sq Mi
$57,933
Median Household Income
$36,888
Median Earnings
$1,656
Median Rent
$479,800
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?
Quadplex - Fully leased multifamily asset near Brickell, Downtown Miami, shopping, dining, transit, entertainment, and major highways.
Where is this quadplex located?
The property is located at 767 SW 2nd Street Miami, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑story quadplex built in 1924; Fully leased multifamily property; Located in Miami, FL 33130
