Triplex with Updated
For Sale
$799,000
9311 SW 37th St, Miami, FL 33165
Residential Income, Miami, FL
Property Size2,106 SF
Price / SF$379.39
Days on Market42
Property Features for 9311 SW 37th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 4, Bathroom 4
Parking
4
Patio and Porch features
Porch, Patio
Exterior features
Balcony, Enclosed Porch, Fence, Outdoor Grill, Patio, Shed
Fencing
Fenced
Subdivision
CENTRAL HEIGHTS
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
30-40-16-005-0640
Size
2,106 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
CENTRAL HGTS PB 14-22 LOT 23 BLK 3 LOT SIZE 50.000 X 140
Tax Annual Amount
6625
Legal Description
CENTRAL HGTS PB 14-22 LOT 23 BLK 3 LOT SIZE 50.000 X 140
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Cooling system
Window Unit(s), Wall/Window Unit(s), Ceiling Fan(s), Central Air
Amenities
impact windows and doors
Building Details
Year built
1963
Floors in Building
1
Flooring type
Terrazzo, Tile
Building materials
Block
Roof type
Concrete
Listing Agency:
Keller Williams Realty Premier Properties
(305) 595-2844
Listed By:
Delia Abreu PA · License #3007744
(305) 978-7710
Added: Jul 18
Changed: Aug 26
Last Checked: Aug 28 at 6:06PM
MLS# A11852709
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,106-square-foot triplex was built in 1963 with block construction and a concrete roof. The property includes three residential units, with one unit arranged as a one-bedroom, one-bath residence and another offering a one-bedroom, one-bath layout. The third unit includes a summer kitchen. Tile and terrazzo flooring, impact windows and doors, central air, and additional cooling systems are among the existing improvements. The second and third units have been updated.
Outdoor features include a fenced property, patio, enclosed porch, balcony, shed, outdoor grill, and substantial parking. The property is located in Miami-Dade County near supermarkets, schools, and public transportation. Open permits and existing code violations are to be assumed by the buyer, and the sale is designated cash only.
Outdoor features include a fenced property, patio, enclosed porch, balcony, shed, outdoor grill, and substantial parking. The property is located in Miami-Dade County near supermarkets, schools, and public transportation. Open permits and existing code violations are to be assumed by the buyer, and the sale is designated cash only.
Key Highlights
- 2,106 SF triplex on a 1963‑built block structure
- Three residential units with multiple one‑bedroom configurations
- Second and third units fully updated
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
$42,237
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
5.29%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential income property with impact-rated windows, fenced outdoor areas, and substantial parking.
Where is this triplex located?
The property is located at 9311 SW 37th St 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 SF triplex on a 1963‑built block structure; Three residential units with multiple one‑bedroom configurations; Second and third units fully updated
