Two-Unit Duplex
For Sale
$725,000
800 NW 46th St, Miami, FL 33127
Two-unit residential property with established tenants near Miami’s major employment, retail, dining, and entertainment districts.
Property Size2,708 SF
Lot Size0.24 Acres
Price / SF$267.73
Days on Market12
Property Features for 800 NW 46th St
General Information
Standard status
Active
Size
2,708 SF
Lot size
0.24 Acres
Property subtype
Duplex
Additional Details
Gross Income
$68,400
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,318
Building Details
Building Size
2,708 SF
Year Built
1936
Listing Agency:
Partnership Realty Inc.
Listed By:
Zeyneddin Biter · License #3365594
(786) 708-1133
Source:
Allyandaj
Added: Sep 15
Changed: Sep 25
Last Checked: Sep 24 at 3:44PM
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 Partnership Realty Inc.
Investment Insights
Based on property information with market context.
This duplex includes two rental units with established tenants, approximately 2,708 SF of living area, and a 10,300 SF corner lot. Built in 1936, the property offers an existing two-unit configuration for residential rental use. Combined rental income is reported at $5,700 per month, which is omitted from the listing copy under pricing policy.
The property is located in Miami near the Miami Design District, Wynwood Walls, Midtown, I-95, and Downtown Miami. Its setting places the duplex within reach of employment, shopping, dining, and entertainment destinations, while the surrounding area is experiencing investment and redevelopment activity.
The property is located in Miami near the Miami Design District, Wynwood Walls, Midtown, I-95, and Downtown Miami. Its setting places the duplex within reach of employment, shopping, dining, and entertainment destinations, while the surrounding area is experiencing investment and redevelopment activity.
Key Highlights
- Two rental units with established tenants
- Approximately 2,708 SF of living area
- 10,300 SF corner lot
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
$54,310
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
7.49%
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%
$1,086,200
$1.1M
Cap Rate 7%
$775,857
$775.9K
Cap Rate 9%
$603,444
$603.4K
Market Conditions
NOI Build-Up for 2,708 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
$82.9K $30.60/SF
− Vacancy
−$5.3K −$1.95/SF
EGI
$77.6K $28.65/SF
− OpEx
−$23.3K −$8.60/SF
NOI
$54.3K $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%
$1,086,200
Cap Rate 7%
$775,857
Cap Rate 9%
$603,444
Alternative Uses
Best Use
Multifamily LT 5
$775.9K
$678.9K – $905.2K
NOI $54,310 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$714.7K
$625.3K – $833.8K
NOI $50,026 @ 7.0% cap · market cap 6.90%
Theoretical Best
Specialty Retail
$1.83M
$1.60M – $2.13M
NOI $127,954 @ 7.0% cap · market cap 17.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,324
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with established tenants near Miami’s major employment, retail, dining, and entertainment districts.
Where is this duplex located?
The property is located at 800 NW 46th St Miami, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two rental units with established tenants; Approximately 2,708 SF of living area; 10,300 SF corner lot
