Duplex With Two Unit
For Sale
$599,000
10841 Nw 8th Ave, Miami, FL 33168
Two separate electrical meters support the property's dual-unit configuration.
Property Size2,010 SF
Price / SF$298.01
Days on Market42
Property Features for 10841 Nw 8th Ave
General Information
Standard status
Active
Size
2,010 SF
Property subtype
Residential Income
Units
Unit Mix
3BR/2BA, 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,725
Building Details
Buildings
1
Listing Agency:
Beycome of Florida LLC
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
(804) 656-5007
Source:
Exprealty
Added: Jul 13
Changed: Aug 22
Last Checked: Aug 23 at 8:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Beycome of Florida LLC
Investment Insights
Based on property information with market context.
This 2,010-square-foot duplex in Miami, Florida, contains two residential units with distinct layouts. One unit offers 3 bedrooms and 2 bathrooms, while the other includes 2 bedrooms and 1 bathroom. Separate electrical meters serve the two-unit property.
Located at 10841 NW 8th Ave, the property combines a larger three-bedroom unit with a more compact two-bedroom unit within one duplex structure.
Located at 10841 NW 8th Ave, the property combines a larger three-bedroom unit with a more compact two-bedroom unit within one duplex structure.
Key Highlights
- 2,010‑square‑foot duplex in Miami, Florida
- Unit mix includes 3 bedrooms and 2 bathrooms plus 2 bedrooms and 1 bathroom
- 2 electrical meters serve the property
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
$40,312
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
6.73%
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%
$806,240
$806.2K
Cap Rate 7%
$575,886
$575.9K
Cap Rate 9%
$447,911
$447.9K
Market Conditions
NOI Build-Up for 2,010 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
$61.5K $30.60/SF
− Vacancy
−$3.9K −$1.95/SF
EGI
$57.6K $28.65/SF
− OpEx
−$17.3K −$8.60/SF
NOI
$40.3K $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%
$806,240
Cap Rate 7%
$575,886
Cap Rate 9%
$447,911
Alternative Uses
Best Use
Multifamily LT 5
$575.9K
$503.9K – $671.9K
NOI $40,312 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$530.5K
$464.2K – $618.9K
NOI $37,132 @ 7.0% cap · market cap 6.20%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $94,973 @ 7.0% cap · market cap 15.86%
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
729
Businesses Nearby
Explore this area
Business Placement
Demographics for 33168, FL
24,715
Population
6,761
Households
3.7
Avg Household Size
39
Median Age
16%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
6,865
Density / Sq Mi
$58,636
Median Household Income
$31,984
Median Earnings
$1,576
Median Rent
$329,000
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 - Two separate electrical meters support the property's dual-unit configuration.
Where is this duplex located?
The property is located at 10841 Nw 8th Ave Miami, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,010‑square‑foot duplex in Miami, Florida; Unit mix includes 3 bedrooms and 2 bathrooms plus 2 bedrooms and 1 bathroom; 2 electrical meters serve the property
