Triplex with New
New
For Sale
$930,000
9360 SW 37th St, Miami, FL 33165
Residential Income, Miami, FL
Property Size1,553 SF
Lot Size0.16 Acres
Price / SF$598.84
Days on Market2
Property Features for 9360 SW 37th St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
5700
Bedrooms
4
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 1
Parking
4
Subdivision
CENTRAL HEIGHTS
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
30-40-16-005-1170
Size
1,553 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CENTRAL HGTS PB 14-22 LOT 8 BLK 6 LOT SIZE 50.000 X 140 OR 19199-3061 07 2000 1 COC 25544-1123 03 2007 1
Tax Annual Amount
6252
Legal Description
CENTRAL HGTS PB 14-22 LOT 8 BLK 6 LOT SIZE 50.000 X 140 OR 19199-3061 07 2000 1 COC 25544-1123 03 2007 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Central Air, Wall/Window Unit(s)
Amenities
fenced yard
fruit trees
mature landscaping
Building Details
Year built
1950
Floors in Building
1
Flooring type
Wood, Hardwood, Tile
Building materials
Block
Listing Agency:
Douglas Elliman
(305) 677-5000
Listed By:
Jocsan Lopez · License #3219052
(786) 326-1198
Added: Sep 28
Last Checked: Sep 29 at 1:06AM
MLS# A12096450
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 block-built triplex contains 1,553 square feet across three residences on a 7,000-square-foot lot. The main unit has two bedrooms and two bathrooms; each of the other units has one bedroom and one bathroom. A new roof, mixed central and window or wall air conditioning, and a fenced yard with fruit trees and mature landscaping are among the property features. Parking accommodates 3+ vehicles.
Two units are occupied under month-to-month leases. The owner plans to remain in the main residence as a tenant for up to one year. The property was built in 1950 and is in Miami, with the airport, universities, hospitals, shopping, restaurants, and sports venues among the area destinations identified.
Two units are occupied under month-to-month leases. The owner plans to remain in the main residence as a tenant for up to one year. The property was built in 1950 and is in Miami, with the airport, universities, hospitals, shopping, restaurants, and sports venues among the area destinations identified.
Key Highlights
- Three‑unit property with 1,553 square feet of building area
- 7,000‑square‑foot lot with a fenced yard, fruit trees, and mature landscaping
- Main residence has 2 bedrooms and 2 bathrooms; two additional units each have 1 bedroom and 1 bathroom
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
3.35%
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 3.35%
Second Best
Apartment 5plus
$409.8K
$358.6K – $478.2K
NOI $28,689 @ 7.0% cap · market cap 3.08%
Theoretical Best
Specialty Retail
$1.05M
$917.3K – $1.22M
NOI $73,380 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 separate residences occupy a fenced property with fruit trees, mature landscaping, and off-street parking.
Where is this triplex located?
The property is located at 9360 SW 37th St Miami, FL.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Three‑unit property with 1,553 square feet of building area; 7,000‑square‑foot lot with a fenced yard, fruit trees, and mature landscaping; Main residence has 2 bedrooms and 2 bathrooms; two additional units each have 1 bedroom and 1 bathroom
