Corner Lot Duplex with Multi-Family
For Sale
$995,000
800 NW 29th Ter, Miami, FL 33127
Duplex on a corner lot with two units, individual utility meters, and multi-family zoning consideration.
Property Size1,814 SF
Price / SF$548.51
Days on Market182
Property Features for 800 NW 29th Ter
General Information
Standard status
Active
Size
1,814 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$10,000
Building Details
Building Size
1,814 SF
Year Built
1979
Listing Agency:
Related General Realty, LLC.
Listed By:
Moises Btesh · License #3500774
(305) 962-2393
Source:
Casacollectiongroup
Added: Mar 10
Changed: Aug 25
Last Checked: Sep 7 at 9:18AM
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 Related General Realty, LLC.
Investment Insights
Based on property information with market context.
This duplex property in Miami, FL offers two separate units with individual utility meters. The site sits on a corner lot with approximately 8,850 square feet, creating additional flexibility for future use consistent with the property’s multi-family zoning consideration.
The listing describes a centrally located setting with walkable access to nearby Midtown areas, local art galleries, shopping, and popular eateries. It also notes proximity to major destinations including UM, Jackson Hospital, Downtown Miami, and the Design District.
The property is presented as a potential fit for a multi-family rental arrangement and may also be considered for Airbnb use. Proof of funds is required with all offers.
The listing describes a centrally located setting with walkable access to nearby Midtown areas, local art galleries, shopping, and popular eateries. It also notes proximity to major destinations including UM, Jackson Hospital, Downtown Miami, and the Design District.
The property is presented as a potential fit for a multi-family rental arrangement and may also be considered for Airbnb use. Proof of funds is required with all offers.
Key Highlights
- Duplex built in 1979 with two units on a corner lot
- 8850 SF corner lot with multi‑family zoning consideration for potential development
- Each unit has individual utility meters
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
$36,381
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
3.66%
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%
$727,620
$727.6K
Cap Rate 7%
$519,729
$519.7K
Cap Rate 9%
$404,233
$404.2K
Market Conditions
NOI Build-Up for 1,814 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
$55.5K $30.60/SF
− Vacancy
−$3.5K −$1.95/SF
EGI
$52.0K $28.65/SF
− OpEx
−$15.6K −$8.60/SF
NOI
$36.4K $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%
$727,620
Cap Rate 7%
$519,729
Cap Rate 9%
$404,233
Alternative Uses
Best Use
Multifamily LT 5
$519.7K
$454.8K – $606.4K
NOI $36,381 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$478.7K
$418.9K – $558.5K
NOI $33,511 @ 7.0% cap · market cap 3.37%
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.43M
NOI $85,712 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,112
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
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?
Duplex - Duplex on a corner lot with two units, individual utility meters, and multi-family zoning consideration.
Where is this duplex located?
The property is located at 800 NW 29th Ter Miami, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Duplex built in 1979 with two units on a corner lot; 8850 SF corner lot with multi‑family zoning consideration for potential development; Each unit has individual utility meters
