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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1478 2Nd St Miami, FL 33135

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5041548
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 1478 2Nd St

    Year built
    1925
    Property type
    Small apartment buildings

    Description

    This charming 1925-built, one-story triplex in Miami's vibrant Little Havana neighborhood presents a unique investment opportunity. Priced at $799,000, this multifamily property boasts a proven track record of consistent rental income, with minimal vacancies over the past two decades. Located at 1478 SW 2nd St, Miami, FL 33135, the property is ideally situated just five blocks from Calle Ocho and six blocks from the Walk of Fame on historic 8th Street, placing it within easy walking distance of the area's renowned cultural attractions, including the famous 8th Street Latin Carnival. The spacious lot offers potential for expansion, allowing for the straightforward addition of another unit. The property's multifamily zoning further enhances its investment appeal. Enjoy convenient access to South Beach (13 minutes away), Downtown Miami, and Brickell (both 10 minutes away). This turnkey investment is perfect for an investor seeking immediate returns and long-term growth potential in a thriving Miami location. The property is being offered for sale for the first time since its original construction.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-Dade
    State
    Florida
    Longitude
    -80.2194549
    Latitude
    25.7713158

    Comparable in this City

    • $950,000

      Little Havana Duplex Investment Opportunity

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    • $2,390,000

      Miami Multifamily Investment Opportunity

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    • $1,950,000

      Miami Triplex Investment Opportunity

      Prime Miami location, fully rented, high ROI.
      1355 12Th St, Miami, FL 33135
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    • $1,000,000

      Little Havana Duplex - $1M

      Miami Duplex, 2 Units, High Demand Area.
      154 18Th Ct, Miami, FL 33135
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    • $999,999

      Miami Duplex: Prime Location & High ROI

      Updated Duplex, 6% Cap Rate, Miami
      2900 4Th St, Miami, FL 33135
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    • $899,999

      Miami Duplex: High-Income Potential

      Legal Duplex, Fourplex Potential, $73k Net Income
      2120 5Th St, Miami, FL 33135
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    Similar Nearby for Sale

    • $950,000

      Little Havana Duplex Investment Opportunity

      Miami Duplex - 2 Units + 1/1
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    • $999,000
      2,131 SF

      Little Havana Fourplex Investment

      Prime Miami location, excellent return.
      1325 6Th St, Miami, FL 33135
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    • $2,390,000

      Miami Multifamily Investment Opportunity

      Eight-unit building, prime Miami location.
      1565 6Th St, Miami, FL 33135
      View Details
    • $1,950,000

      Miami Triplex Investment Opportunity

      Prime Miami location, fully rented, high ROI.
      1355 12Th St, Miami, FL 33135
      View Details
    • $1,000,000

      Little Havana Duplex - $1M

      Miami Duplex, 2 Units, High Demand Area.
      154 18Th Ct, Miami, FL 33135
      View Details
    • $999,999

      Miami Duplex: Prime Location & High ROI

      Updated Duplex, 6% Cap Rate, Miami
      2900 4Th St, Miami, FL 33135
      View Details

    Similar Nearby for Lease

    • $1,900 /Mo

      Renovated Apartment in Central Miami

      Modern 1-bedroom apartment near Brickell and Little Havana.
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    • $1,600 /Mo

      Little Havana 1-Bedroom Apartment

      Apartment in Little Havana with water and parking included.
      1265 SW 44Th St, Miami, FL 33135
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    • $2,300 /Mo

      West Shenandoah Apartment For Rent

      Cozy 2-bedroom, 1-bathroom apartment in West Shenandoah with parking.
      2046 SW 71St St, Miami, FL 33135
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    • $3,200 /Mo

      Renovated Apartment in Central Miami

      Renovated 3-bedroom apartment with modern amenities and convenient location.
      1786 SW 93Rd St, Miami, FL 33135
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    • $3,500 /Mo

      Furnished 2-Bedroom Apartment with Patio

      Furnished 2-bedroom near Brickell & South Beach with patio.
      820 SW 17Th Ave, Miami, FL 33135
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    • $2,100 /Mo

      Furnished Apartment in Little Havana

      Updated 2-bedroom apartment with backyard in Little Havana.
      1604 SW 9Th St, Miami, FL 33135
      View Details
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    1478 2Nd St
    Miami, FL 33135
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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