Duplex with Large
For Sale
$1,500,000
955 79TH Terrace, Miami Beach, FL 33141
Residential, MIAMI BEACH, FL
Property Size2,728 SF
Lot Size0.13 Acres
Price / SF$549.85
Days on Market43
Property Features for 955 79TH Terrace
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-1-MULT
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Laundry Room, Dining Room, Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Laundry Room, Bathroom 3, Bathroom 1, Bedroom 1, Bedroom 6, Bathroom 2
Security features
Security System
Window features
Storm Window(s)
Patio and Porch features
Patio, Porch
Interior features
Ceiling Fans(s), Primary Bedroom Main Floor
Exterior features
French Doors, Outdoor Grill, Outdoor Shower, Private Mailbox, Sidewalk, Storage
Fencing
Fenced
Appliances
Dryer, Exhaust Fan, Microwave, Range, Refrigerator, Washer
Subdivision
BISCAYNE BCH SUB
View
Water, City
Directions
From I-95, take Exit 7 onto 79th Street Causeway (FL-934 East) toward Miami Beach. Continue east across the causeway into Miami Beach. Turn left onto Hawthorne Avenue, then right onto 79th Terrace. The property at 955 79th Terrace, Miami Beach, FL 33141 will be on the left-hand side.
Standard status
Active
APN
02-3202-008-0410
Size
2,728 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BISCAYNE BEACH SUB PB 44-67 LOT 20 BLK 3 LOT SIZE 50.000 X 113 OR 21165-1650 03 2003 1
Tax Annual Amount
3695
Legal Description
BISCAYNE BEACH SUB PB 44-67 LOT 20 BLK 3 LOT SIZE 50.000 X 113 OR 21165-1650 03 2003 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s), Wall/Window Unit(s), Central Air
Water source
Public
Amenities
terrace
security camera system
Building Details
Year built
1997
Floors in Building
1
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle, Metal
Additional Structures
Storage
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Rosario Cornman · License #3484872
(352) 652-0069
Added: Jul 18
Changed: Aug 28
Last Checked: Aug 29 at 7:06PM
MLS# OM728829
Copyright © 2026 Stellar MLS. 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 2,728-square-foot duplex, built in 1997, contains six bedrooms and four bathrooms across a two-unit configuration. Ceramic tile flooring extends throughout, while the property also includes a large terrace, fenced outdoor areas, storage, private parking for three vehicles, and a perimeter security camera system. Central HVAC was installed in 2023, and the roof was replaced in 2026. Public water and sewer serve the property, which occupies 0.13 acres and carries RM-1-MULT zoning.
The property is located in Miami Beach near restaurants, shopping centers, supermarkets, pharmacies, hospitals, schools, and recreational destinations. Nearby points of interest include beaches, Normandy Shores Island, Indian Creek Island, Newport Fishing Pier, Haulover Beach, Miami Beach Botanical Garden, North Shore Park, and The Bass Museum. The property has no HOA and no rental restrictions.
The property is located in Miami Beach near restaurants, shopping centers, supermarkets, pharmacies, hospitals, schools, and recreational destinations. Nearby points of interest include beaches, Normandy Shores Island, Indian Creek Island, Newport Fishing Pier, Haulover Beach, Miami Beach Botanical Garden, North Shore Park, and The Bass Museum. The property has no HOA and no rental restrictions.
Key Highlights
- 2,728 SF duplex with 6 bedrooms and 4 bathrooms
- 0.13‑acre property with RM‑1‑MULT zoning
- Large terrace, fenced outdoor areas, storage, and tile flooring
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
$45,475
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
3.03%
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%
$909,500
$909.5K
Cap Rate 7%
$649,643
$649.6K
Cap Rate 9%
$505,278
$505.3K
Market Conditions
NOI Build-Up for 2,728 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
$68.7K $25.20/SF
− Vacancy
−$3.8K −$1.39/SF
EGI
$65.0K $23.81/SF
− OpEx
−$19.5K −$7.14/SF
NOI
$45.5K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$909,500
Cap Rate 7%
$649,643
Cap Rate 9%
$505,278
Alternative Uses
Best Use
Multifamily LT 5
$649.6K
$568.4K – $757.9K
NOI $45,475 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$599.4K
$524.4K – $699.3K
NOI $41,955 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,882 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,092
Businesses Nearby
Explore this area
Business Placement
Demographics for 33141, FL
35,995
Population
21,793
Households
1.7
Avg Household Size
44
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
15,650
Density / Sq Mi
$64,457
Median Household Income
$36,899
Median Earnings
$1,739
Median Rent
$434,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - RM-1-MULT zoning, private parking, and no HOA support flexible residential use.
Where is this duplex located?
The property is located at 955 79TH Terrace Miami Beach, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 2,728 SF duplex with 6 bedrooms and 4 bathrooms; 0.13‑acre property with RM‑1‑MULT zoning; Large terrace, fenced outdoor areas, storage, and tile flooring
