Two-Unit Duplex
For Sale
$1,200,000
875 NW 2nd St, Miami, FL 33128
Two separate residences provide flexible occupancy and rental-use options in a centrally located Miami setting.
Property Size2,580 SF
Price / SF$465.12
Days on Market14
Property Features for 875 NW 2nd St
General Information
Standard status
Active
Size
2,580 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$16,735
Building Details
Building Size
2,580 SF
Year Built
2008
Listing Agency:
CMB Realty Group, LLC.
Listed By:
Yordenis Ugas · License #3663550
Source:
Miamibrokersgroup
Added: Aug 26
Changed: Sep 3
Last Checked: Sep 7 at 7:35AM
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 CMB Realty Group, LLC.
Investment Insights
Based on property information with market context.
Built in 2008, this duplex contains two separate units with a combined 2,580 square feet of living space. The property includes six bedrooms and four bathrooms, supporting distinct residential layouts within one multifamily asset. Separate units allow an owner to occupy one residence while leasing the other, or operate both as rental residences.
The property is located at 875 NW 2nd St in Miami, near Brickell and Downtown Miami. Major highways, shopping, dining, and entertainment are also nearby, placing the duplex within a broad range of established urban amenities and transportation connections.
The property is located at 875 NW 2nd St in Miami, near Brickell and Downtown Miami. Major highways, shopping, dining, and entertainment are also nearby, placing the duplex within a broad range of established urban amenities and transportation connections.
Key Highlights
- Two‑unit duplex with 2,580 square feet of combined living space
- Six bedrooms and four bathrooms across the property
- Built in 2008
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
$51,743
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
4.31%
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%
$1,034,860
$1.0M
Cap Rate 7%
$739,186
$739.2K
Cap Rate 9%
$574,922
$574.9K
Market Conditions
NOI Build-Up for 2,580 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
$78.9K $30.60/SF
− Vacancy
−$5.0K −$1.95/SF
EGI
$73.9K $28.65/SF
− OpEx
−$22.2K −$8.60/SF
NOI
$51.7K $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%
$1,034,860
Cap Rate 7%
$739,186
Cap Rate 9%
$574,922
Alternative Uses
Best Use
Multifamily LT 5
$739.2K
$646.8K – $862.4K
NOI $51,743 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$680.9K
$595.8K – $794.4K
NOI $47,661 @ 7.0% cap · market cap 3.97%
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,906 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 33128, FL
8,213
Population
4,533
Households
1.8
Avg Household Size
41
Median Age
22%
College-Educated
66%
High-School Grad
0.4 sq mi
ZIP Area
20,533
Density / Sq Mi
$36,308
Median Household Income
$32,082
Median Earnings
$1,316
Median Rent
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 - Two separate residences provide flexible occupancy and rental-use options in a centrally located Miami setting.
Where is this duplex located?
The property is located at 875 NW 2nd St 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‑unit duplex with 2,580 square feet of combined living space; Six bedrooms and four bathrooms across the property; Built in 2008
