Triplex with Brand-New
New
For Sale
$950,000
9360 SW 37TH Street, Miami, FL 33165
Three residential units include a two-bedroom owner residence and two one-bedroom apartments.
Property Size1,553 SF
Price / SF$611.72
Days on Market2
Property Features for 9360 SW 37TH Street
General Information
Standard status
Active
Size
1,553 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
GetMoreOffers
(877) 232-9695
Listed By:
Keith Gordon · License #20008670
Source:
Billeroproperties
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 4:15AM
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 GetMoreOffers
Investment Insights
Based on property information with market context.
This 1,553-square-foot triplex on a 7,000-square-foot lot contains three residential units totaling 4 bedrooms and 4 baths. The primary unit offers a 2BR/2BA layout with an open floor plan and walk-in closets, while the two additional units are configured as 1BR/1BA apartments. A brand-new roof, mixed central, wall, and window A/C, and parking for 3+ vehicles support the property’s practical configuration.
The property at 9360 SW 37TH Street in Miami includes a fenced yard, fruit trees, and mature landscaping. The two smaller units are occupied on month-to-month leases, and the owner will remain in the main unit as a tenant for 1 year. Built in 1950, the property provides an established multifamily layout with existing occupancy.
The property at 9360 SW 37TH Street in Miami includes a fenced yard, fruit trees, and mature landscaping. The two smaller units are occupied on month-to-month leases, and the owner will remain in the main unit as a tenant for 1 year. Built in 1950, the property provides an established multifamily layout with existing occupancy.
Key Highlights
- Three‑unit triplex with 1,553 square feet on a 7,000‑square‑foot lot
- Unit mix includes one 2BR/2BA residence and two 1BR/1BA units
- Brand‑new roof and mixed central, wall, and window A/C
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
$31,146
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
3.28%
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%
$622,920
$622.9K
Cap Rate 7%
$444,943
$444.9K
Cap Rate 9%
$346,067
$346.1K
Market Conditions
NOI Build-Up for 1,553 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
$47.5K $30.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$44.5K $28.65/SF
− OpEx
−$13.3K −$8.60/SF
NOI
$31.1K $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%
$622,920
Cap Rate 7%
$444,943
Cap Rate 9%
$346,067
Alternative Uses
Best Use
Multifamily LT 5
$444.9K
$389.3K – $519.1K
NOI $31,146 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$409.8K
$358.6K – $478.2K
NOI $28,689 @ 7.0% cap · market cap 3.02%
Theoretical Best
Specialty Retail
$1.05M
$917.3K – $1.22M
NOI $73,380 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 residential units include a two-bedroom owner residence and two one-bedroom apartments.
Where is this triplex located?
The property is located at 9360 SW 37TH Street Miami, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three‑unit triplex with 1,553 square feet on a 7,000‑square‑foot lot; Unit mix includes one 2BR/2BA residence and two 1BR/1BA units; Brand‑new roof and mixed central, wall, and window A/C
