Triplex with New Barrel Tile
For Sale
$749,000
Miami, FL 33135, Miami, FL 33135
MULTI_FAMILY - Miami, FL
Property Size2,288 SF
Lot Size0.17 Acres
Price / SF$327.36
Days on Market32
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
5700
Bedrooms
5
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 1
Parking
4
Subdivision
CENTRAL PARK
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-03-040-1900
Size
2,288 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CENTRAL PARK PB 5-57 LOT 11 BLK 11 LOT SIZE 50.000 X 150 OR 16690-3608 1194 4
Tax Annual Amount
9176
Legal Description
CENTRAL PARK PB 5-57 LOT 11 BLK 11 LOT SIZE 50.000 X 150 OR 16690-3608 1194 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
washer/dryer
Building Details
Year built
1939
Floors in Building
1
Flooring type
Laminate
Building materials
Block
Roof type
Barrel
Listing Agency:
Compass Florida, LLC
(305) 697-5402
Listed By:
Eric Farmelant · License #3290089
(954) 850-3905
Added: Jul 18
Changed: Aug 2
Last Checked: Aug 18 at 6:06PM
MLS# A12025639
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 triplex offers a straightforward unit mix with three separate living spaces: two 2-bedroom, 1-bath units and a studio efficiency. The property features a true 1-car garage, two sets of full-size washer and dryers, and two electric meters. Construction is block, with laminate flooring and central heating and central air conditioning.
A brand-new barrel tile roof was completed in 2026. The property sits on an expansive 7,500 SF lot and is positioned near the end of a dead-end street. Outdoor space includes mature mango and avocado trees. Utilities include cable available, with public sewer.
The property is currently occupied by long-term tenants. It is located near Coral Gables, Brickell, Downtown Miami, and Miami International Airport, providing convenient access to major employment and lifestyle areas.
A brand-new barrel tile roof was completed in 2026. The property sits on an expansive 7,500 SF lot and is positioned near the end of a dead-end street. Outdoor space includes mature mango and avocado trees. Utilities include cable available, with public sewer.
The property is currently occupied by long-term tenants. It is located near Coral Gables, Brickell, Downtown Miami, and Miami International Airport, providing convenient access to major employment and lifestyle areas.
Key Highlights
- Brand‑new barrel tile roof completed in 2026
- Two 2‑bedroom, 1‑bath units plus a studio efficiency
- True 1‑car garage
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
$45,887
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
6.13%
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%
$917,740
$917.7K
Cap Rate 7%
$655,529
$655.5K
Cap Rate 9%
$509,856
$509.9K
Market Conditions
NOI Build-Up for 2,288 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
$70.0K $30.60/SF
− Vacancy
−$4.5K −$1.95/SF
EGI
$65.6K $28.65/SF
− OpEx
−$19.7K −$8.60/SF
NOI
$45.9K $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%
$917,740
Cap Rate 7%
$655,529
Cap Rate 9%
$509,856
Alternative Uses
Best Use
Multifamily LT 5
$655.5K
$573.6K – $764.8K
NOI $45,887 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$603.8K
$528.3K – $704.5K
NOI $42,267 @ 7.0% cap · market cap 5.64%
Theoretical Best
Specialty Retail
$1.54M
$1.35M – $1.80M
NOI $108,109 @ 7.0% cap · market cap 14.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
13,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
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 - Triplex with a brand-new barrel tile roof, a true 1-car garage, and full-size washer and dryer sets.
Where is this triplex located?
The property is located at Miami, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Brand‑new barrel tile roof completed in 2026; Two 2‑bedroom, 1‑bath units plus a studio efficiency; True 1‑car garage
