Multi-Unit Residential Income
For Sale
$509,000
1111 NW 26th St, Miami, FL 33127
Three-unit residential setup with a 3-bedroom main home plus a 2-bedroom and 1-bedroom efficiency.
Property Size1,617 SF
Price / SF$314.78
Days on Market136
Property Features for 1111 NW 26th St
General Information
Standard status
Active
Size
1,617 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$9,527
Building Details
Building Size
1,617 SF
Year Built
1930
Listing Agency:
Certezza Realty LLC
Listed By:
Juan Arreaza Bustamante · License #3461354
(888) 883-8509
Source:
Casacollectiongroup
Added: Apr 29
Changed: Sep 8
Last Checked: Sep 10 at 5:56AM
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 Certezza Realty LLC
Investment Insights
Based on property information with market context.
This property offers a versatile multi-unit configuration, including a 3-bedroom, 1-bath main home, a 2-bedroom, 2-bath unit, and a 1-bedroom, 1-bath efficiency. The setup is designed to support flexible living arrangements alongside rental income, all situated on a spacious lot.
The property is listed for sale at 1111 Northwest 26th Street in Miami, FL. The public remarks also reference a project that is almost approved for a modern duplex, with the duplex consisting of two units at 1111 NW 26th St and 1113 NW 26th St.
For buyers evaluating an income-focused residential asset or a potential duplex redevelopment path, this multi-unit offering provides an on-site mix of layouts and bedrooms across three distinct units.
The property is listed for sale at 1111 Northwest 26th Street in Miami, FL. The public remarks also reference a project that is almost approved for a modern duplex, with the duplex consisting of two units at 1111 NW 26th St and 1113 NW 26th St.
For buyers evaluating an income-focused residential asset or a potential duplex redevelopment path, this multi-unit offering provides an on-site mix of layouts and bedrooms across three distinct units.
Key Highlights
- Multi‑unit residential setup built in 1930: 3‑bedroom, 1‑bath main home plus a 2‑bedroom, 2‑bath unit and a 1‑bedroom, 1‑bath efficiency
- Property includes three separate units for flexible living or rental income
- A project described as almost approved for a modern duplex up to 5,400 SF
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
$32,430
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
6.37%
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%
$648,600
$648.6K
Cap Rate 7%
$463,286
$463.3K
Cap Rate 9%
$360,333
$360.3K
Market Conditions
NOI Build-Up for 1,617 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
$49.5K $30.60/SF
− Vacancy
−$3.2K −$1.95/SF
EGI
$46.3K $28.65/SF
− OpEx
−$13.9K −$8.60/SF
NOI
$32.4K $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%
$648,600
Cap Rate 7%
$463,286
Cap Rate 9%
$360,333
Alternative Uses
Best Use
Multifamily LT 5
$463.3K
$405.4K – $540.5K
NOI $32,430 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$426.7K
$373.4K – $497.9K
NOI $29,871 @ 7.0% cap · market cap 5.87%
Theoretical Best
Specialty Retail
$1.09M
$955.1K – $1.27M
NOI $76,404 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,850
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
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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-unit residential setup with a 3-bedroom main home plus a 2-bedroom and 1-bedroom efficiency.
Where is this triplex located?
The property is located at 1111 NW 26th St Miami, FL.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: Multi‑unit residential setup built in 1930: 3‑bedroom, 1‑bath main home plus a 2‑bedroom, 2‑bath unit and a 1‑bedroom, 1‑bath efficiency; Property includes three separate units for flexible living or rental income; A project described as almost approved for a modern duplex up to 5,400 SF
