Corner-Lot
For Sale
$1,175,000
8701 NE 8th Ct, Miami, FL 33138
Residential Income, Miami, FL
Property Size2,664 SF
Lot Size0.28 Acres
Price / SF$441.07
Days on Market74
Property Features for 8701 NE 8th Ct
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
3100
Bedrooms
7
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 7, Bedroom 4, Bedroom 2, Bathroom 1
Parking
10
Subdivision
BISCAYNE HEIGHTS
Lot features
< 1/4 Acre
Standard status
Active
APN
30-32-07-003-1390
Size
2,664 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BISCAYNE HGTS PB 2-78 S1/2 OF LOT 65 LESS E99FT LOT SIZE 103.400 X 116 OR 14747-2380 1090 4
Tax Annual Amount
10594
Legal Description
BISCAYNE HGTS PB 2-78 S1/2 OF LOT 65 LESS E99FT LOT SIZE 103.400 X 116 OR 14747-2380 1090 4
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Flooring type
Wood, Hardwood, Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Compass Florida, LLC
(305) 315-2396
Listed By:
Li Bensimon · License #3538197
(954) 309-0604
Added: Jul 22
Changed: Sep 14
Last Checked: Oct 3 at 12:06PM
MLS# A12058364
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 property includes three tenant-occupied residences distributed among separate structures. The unit mix consists of two 3-bedroom, 1-bath residences and one 1-bedroom, 1-bath residence, with 2,664 square feet of total property size. Built in 1940, the improvements feature block construction, wood, hardwood, and tile flooring, central heating and cooling, a shingle roof, and public water and sewer service.
The property occupies an 11,994-square-foot corner lot at 8701 NE 8th Ct in Miami, Florida. The site is zoned for up to four units, providing a documented development framework alongside the existing three-residence configuration. The property is located in Miami-Dade County, within ZIP Code 33138.
The property occupies an 11,994-square-foot corner lot at 8701 NE 8th Ct in Miami, Florida. The site is zoned for up to four units, providing a documented development framework alongside the existing three-residence configuration. The property is located in Miami-Dade County, within ZIP Code 33138.
Key Highlights
- 11,994 SF corner lot zoned for up to four units
- Three tenant‑occupied residences in separate structures
- Unit mix includes two 3‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
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
$53,428
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
4.55%
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%
$1,068,560
$1.1M
Cap Rate 7%
$763,257
$763.3K
Cap Rate 9%
$593,644
$593.6K
Market Conditions
NOI Build-Up for 2,664 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
$81.5K $30.60/SF
− Vacancy
−$5.2K −$1.95/SF
EGI
$76.3K $28.65/SF
− OpEx
−$22.9K −$8.60/SF
NOI
$53.4K $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%
$1,068,560
Cap Rate 7%
$763,257
Cap Rate 9%
$593,644
Alternative Uses
Best Use
Multifamily LT 5
$763.3K
$667.9K – $890.5K
NOI $53,428 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$703.0K
$615.2K – $820.2K
NOI $49,213 @ 7.0% cap · market cap 4.19%
Theoretical Best
Specialty Retail
$1.80M
$1.57M – $2.10M
NOI $125,875 @ 7.0% cap · market cap 10.71%
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
1,625
Businesses Nearby
Explore this area
Business Placement
Demographics for 33138, FL
27,601
Population
14,310
Households
1.9
Avg Household Size
43
Median Age
47%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
6,572
Density / Sq Mi
$71,518
Median Household Income
$52,853
Median Earnings
$1,647
Median Rent
$686,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residences are arranged in separate structures with central HVAC and public water and sewer.
Where is this triplex located?
The property is located at 8701 NE 8th Ct Miami, FL.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 11,994 SF corner lot zoned for up to four units; Three tenant‑occupied residences in separate structures; Unit mix includes two 3‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
