Triplex with Impact
For Sale
$799,000
9311 SW 37th Street, Miami, FL 33165
Three residential units include updated interiors in the second and third units.
Property Size2,106 SF
Price / SF$379.39
Days on Market8
Property Features for 9311 SW 37th Street
General Information
Standard status
Active
Size
2,106 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1963
Listing Agency:
Keller Williams Realty Premier Properties
(305) 595-2844
Listed By:
Delia Abreu · License #3007744
(305) 978-7710
Source:
Lehmannflorida
Added: Oct 13
Changed: Oct 19
Last Checked: Oct 19 at 2:50PM
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 Realty Premier Properties
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Investment Insights
Based on property information with market context.
This 2,106-square-foot triplex, built in 1963, contains three units. The main unit has one bedroom and one bathroom. The second unit can be arranged as either a one-bedroom or two-bedroom residence, each with one bathroom. The third unit has one bedroom, one bathroom, and a summer kitchen. Impact-rated windows and doors are installed, and the second and third units have been updated.
Open permits and existing code violations are part of the property; the buyer will assume responsibility for them.
Open permits and existing code violations are part of the property; the buyer will assume responsibility for them.
Key Highlights
- 2,106‑square‑foot triplex built in 1963
- Three units: one‑bedroom main unit, configurable second unit, and one‑bedroom third unit
- Second unit can be configured with one or two bedrooms; both options include one bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,237
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$844,740
$844.7K
Cap Rate 7%
$603,386
$603.4K
Cap Rate 9%
$469,300
$469.3K
Market Conditions
NOI Build-Up for 2,106 SF
Gross rent
$64.4K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$60.3K $28.65/SF
− OpEx
−$18.1K −$8.60/SF
NOI
$42.2K $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 Rate 5%
$844,740
Cap Rate 7%
$603,386
Cap Rate 9%
$469,300
Alternative Uses
Best Use
Multifamily LT 5
$603.4K
$528.0K – $704.0K
NOI $42,237 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$555.8K
$486.3K – $648.4K
NOI $38,905 @ 7.0% cap · market cap 4.87%
Theoretical Best
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,509 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,334
Businesses Nearby
Explore this area
Business Placement
Demographics for 33165, FL
54,070
Population
17,813
Households
3
Avg Household Size
47
Median Age
28%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
7,209
Density / Sq Mi
$84,086
Median Household Income
$41,657
Median Earnings
$1,796
Median Rent
$476,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include updated interiors in the second and third units.
Where is this triplex located?
The property is located at 9311 SW 37th Street Miami, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,106‑square‑foot triplex built in 1963; Three units: one‑bedroom main unit, configurable second unit, and one‑bedroom third unit; Second unit can be configured with one or two bedrooms; both options include one bathroom
