Renovated Duplex With
For Sale
$1,350,000
247 NW 54th St, Miami, FL 33127
Residential Income, Miami, FL
Property Size2,156 SF
Lot Size0.15 Acres
Price / SF$626.16
Days on Market161
Property Features for 247 NW 54th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
6101
Bedrooms
7
Full bathrooms
5
Rooms
Bedroom 2, Bathroom 1, Bedroom 6, Bathroom 5, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 7, Bedroom 4, Bathroom 4, Bedroom 5
Parking
4
Security features
Security
Exterior features
Security/High Impact Doors
Subdivision
RAILROAD SHOPS INTER SCHO
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-13-048-0770
Size
2,156 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
13 53 41 PB 3-192 RAILROAD SHOPS INTER SCH TR LOT 19 LESS S10FT ST BLK 4 LOT SIZE 50.000 X 133 OR 16102-2461 0993 4
Tax Annual Amount
2500
Legal Description
13 53 41 PB 3-192 RAILROAD SHOPS INTER SCH TR LOT 19 LESS S10FT ST BLK 4 LOT SIZE 50.000 X 133 OR 16102-2461 0993 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1926
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Flat, Tile
Listing Agency:
FIP Realty Services, LLC
(786) 463-4977
Listed By:
Gregory Troy Cohen · License #3368879
(786) 563-2565
Added: Mar 26
Changed: Aug 26
Last Checked: Sep 2 at 10:06AM
MLS# A11767651
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 renovated duplex includes two three-bedroom, two-bath units along with a separate studio. Recent improvements include tile flooring, impact windows and doors, a new roof, updated electrical and plumbing, and new air conditioning. The building has block construction, central heating, central air, and public water and sewer service.
The property sits on a 6,650-square-foot lot at 247 NW 54th St in Miami, with Wynwood and the Miami Design District approximately five minutes away. T5-0 Commercial zoning adds a notable land-use designation to the property. Additional features include a flat and tile roof, security/high-impact doors, cable availability, and public utilities.
The property sits on a 6,650-square-foot lot at 247 NW 54th St in Miami, with Wynwood and the Miami Design District approximately five minutes away. T5-0 Commercial zoning adds a notable land-use designation to the property. Additional features include a flat and tile roof, security/high-impact doors, cable availability, and public utilities.
Key Highlights
- Two three‑bedroom, two‑bath units plus a separate studio
- 6,650‑square‑foot lot at 247 NW 54th St, Miami, FL 33127
- T5‑0 Commercial zoning
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
$43,240
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
3.20%
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%
$864,800
$864.8K
Cap Rate 7%
$617,714
$617.7K
Cap Rate 9%
$480,444
$480.4K
Market Conditions
NOI Build-Up for 2,156 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
$66.0K $30.60/SF
− Vacancy
−$4.2K −$1.95/SF
EGI
$61.8K $28.65/SF
− OpEx
−$18.5K −$8.60/SF
NOI
$43.2K $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%
$864,800
Cap Rate 7%
$617,714
Cap Rate 9%
$480,444
Alternative Uses
Best Use
Multifamily LT 5
$617.7K
$540.5K – $720.7K
NOI $43,240 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$569.0K
$497.9K – $663.8K
NOI $39,829 @ 7.0% cap · market cap 2.95%
Theoretical Best
Specialty Retail
$1.46M
$1.27M – $1.70M
NOI $101,872 @ 7.0% cap · market cap 7.55%
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
2,092
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
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?
Duplex - Updated two-unit property with a separate studio and T5-0 Commercial zoning.
Where is this duplex located?
The property is located at 247 NW 54th St Miami, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Two three‑bedroom, two‑bath units plus a separate studio; 6,650‑square‑foot lot at 247 NW 54th St, Miami, FL 33127; T5‑0 Commercial zoning
