Silver Bluff Duplex in
For Sale
Contact for pricing
3334 SW 24th St, Miami, FL 33145
Duplex in prime location near Coral Gables and Brickell.
Property Size1,920 SF
Price / SF$416.61
Days on Market687
Property Features for 3334 SW 24th St
General Information
Standard status
Active
Size
1,920 SF
Total Parking Spaces
5
Property subtype
Multifamily
Building Details
Year Built
1974
Stories
1
Listing Agency:
Keller Williams Capital Realty
Listed By:
Jenny Gutierrez Sandberg · License #3259948
(305) 297-3826
Source:
Crexi
Added: Oct 30, 2024
Changed: Sep 7
Last Checked: Sep 15 at 6:49AM
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 Keller Williams Capital Realty
Investment Insights
Based on property information with market context.
This Silver Bluff duplex is situated in an up-and-coming location, offering convenient access to shopping centers, Miracle Mile, the Biltmore, Coral Gables, the University of Miami, MetroRail, Downtown Miami, and Brickell. The property features two separate units, one with 3 bedrooms and 2 bathrooms, and the other with 2 bedrooms and 1 bathroom. Each unit is equipped with its own independent AC unit and separate water and electric meters. The property includes a private backyard and ample parking spaces. Original terrazzo flooring is present throughout. The front unit is currently tenant-occupied on a month-to-month basis. The property size is 1920 square feet.
Key Highlights
- Prime location in Silver Bluff, close to Coral Gables, Miracle Mile, Biltmore, University of Miami, MetroRail, Downtown Miami, and Brickell.
- Duplex property with two separate units: a 3/2 and a 2/1.
- Each unit has separate water and electric 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
$38,507
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
4.81%
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%
$770,140
$770.1K
Cap Rate 7%
$550,100
$550.1K
Cap Rate 9%
$427,856
$427.9K
Market Conditions
NOI Build-Up for 1,920 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
$58.8K $30.60/SF
− Vacancy
−$3.7K −$1.95/SF
EGI
$55.0K $28.65/SF
− OpEx
−$16.5K −$8.60/SF
NOI
$38.5K $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%
$770,140
Cap Rate 7%
$550,100
Cap Rate 9%
$427,856
Alternative Uses
Best Use
Multifamily LT 5
$550.1K
$481.3K – $641.8K
NOI $38,507 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$506.7K
$443.4K – $591.2K
NOI $35,469 @ 7.0% cap · market cap 4.43%
Theoretical Best
Specialty Retail
$1.30M
$1.13M – $1.51M
NOI $90,721 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,160
Businesses Nearby
Explore this area
Business Placement
Demographics for 33145, FL
29,737
Population
12,773
Households
2.3
Avg Household Size
44
Median Age
42%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
11,895
Density / Sq Mi
$70,592
Median Household Income
$43,039
Median Earnings
$1,769
Median Rent
$560,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex in prime location near Coral Gables and Brickell.
Where is this duplex located?
The property is located at 3334 SW 24th St Miami, FL.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Prime location in Silver Bluff, close to Coral Gables, Miracle Mile, Biltmore, University of Miami, MetroRail, Downtown Miami, and Brickell.; Duplex property with two separate units: a 3/2 and a 2/1.; Each unit has separate water and electric meters.
