Waterfront One-Bed Garden-Style
For Sale
$250,000
2700 NE 135th Street, North Miami, FL 33181
Residential, North Miami, FL
Property Size640 SF
Price / SF$390.63
Days on Market196
Property Features for 2700 NE 135th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
4700
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1
Security features
Security
Pets allowed
Yes
Exterior features
Barbecue
Fencing
Fenced
Appliances
Gas Range, Refrigerator
Subdivision
FAIRMONT HOUSE INC - CO-OP
View
Ocean
Elementary school
North Miami
High school
Alonzo and Tracy Mourning
Standard status
Active
APN
0622290690300
Size
640 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FAIRMONT HOUSE INC - CO-OP APT 31 1.7161% OF OWNERSHIP REM FOSTER & SANCHEZ TR PB 31-66 PT TR 1-BEG X OFN/L SEC 27 &BLKHD LINE BISC BAY SW A
Tax Annual Amount
3609
Expense value
150
Expense
Application Fee
Expense freq.
One Time
HOA Fee
$485 Monthly
Legal Description
FAIRMONT HOUSE INC - CO-OP APT 31 1.7161% OF OWNERSHIP REM FOSTER & SANCHEZ TR PB 31-66 PT TR 1-BEG X OFN/L SEC 27 &BLKHD LINE BISC BAY SW A
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Water front
1
Amenities
saltwater pool
tiki hut
BBQ area
marina access
private dockage
Building Details
Year built
1957
Floors in Building
2
Flooring type
Tile
Building materials
CBS
Listing Agency:
The Keyes Company
(305) 822-9800
Listed By:
Stanley Rosen · License #681734
(305) 510-8032
Added: Feb 14
Changed: Aug 19
Last Checked: Aug 29 at 4:06PM
MLS# F10552196
Copyright © 2026 BeachesMLS. 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.
Located in a well-maintained garden-style complex directly on the Intracoastal Waterway, this one-bedroom, one-bath residence offers marina access with private dockage. The unit is described as being in excellent condition and features tile flooring, central heating, central air, and ceiling fans. Appliances include a gas range and refrigerator. The building is constructed with CBS, and the property includes fencing, a BBQ area, and cable availability. Public utilities are provided with public water and public sewer. The residence is part of the Fairmont House, which lists resort-style amenities including a saltwater pool and a tiki hut.
Positioned in North Miami just east of Biscayne Boulevard, the property is directly across from Haulover Marina and the popular sandbar area, with access that is described as minutes to boating, waterfront dining, and open water.
Please note there is a two-year rental restriction prior to leasing.
Positioned in North Miami just east of Biscayne Boulevard, the property is directly across from Haulover Marina and the popular sandbar area, with access that is described as minutes to boating, waterfront dining, and open water.
Please note there is a two-year rental restriction prior to leasing.
Key Highlights
- Garden‑style complex residence on the Intracoastal Waterway
- Saltwater pool plus tiki hut and BBQ area
- Marina access with private dockage directly across from Haulover Marina
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
$9,843
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
3.94%
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%
$196,860
$196.9K
Cap Rate 7%
$140,614
$140.6K
Cap Rate 9%
$109,367
$109.4K
Market Conditions
NOI Build-Up for 640 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
$18.7K $29.28/SF
− Vacancy
−$843 −$1.32/SF
EGI
$17.9K $27.96/SF
− OpEx
−$8.1K −$12.58/SF
NOI
$9.8K $15.38/SF
Area
Miami-Dade County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
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%
$196,860
Cap Rate 7%
$140,614
Cap Rate 9%
$109,367
Alternative Uses
Best Use
Apartment 5plus
$140.6K
$123.0K – $164.1K
NOI $9,843 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$324.7K
$284.1K – $378.8K
NOI $22,729 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Explore this area
Business Placement
Demographics for 33181, FL
20,955
Population
9,401
Households
2.2
Avg Household Size
39
Median Age
41%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
6,985
Density / Sq Mi
$56,473
Median Household Income
$40,233
Median Earnings
$1,665
Median Rent
$315,200
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?
Multifamily property - One-bedroom unit in a garden-style complex with saltwater pool, tiki hut, and marina access with private dockage.
Where is this multifamily property located?
The property is located at 2700 NE 135th Street North Miami, FL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Garden‑style complex residence on the Intracoastal Waterway; Saltwater pool plus tiki hut and BBQ area; Marina access with private dockage directly across from Haulover Marina
