Two-Unit Duplex with Separate
For Sale
$450,000
Pending
1120 NE 111th St, Miami, FL 33161
Tenant-occupied duplex with stainless steel appliances, individual electric metering, and wall or window air conditioning.
Property Size1,652 SF
Days on Market66
Property Features for 1120 NE 111th St
General Information
Standard status
Pending
Size
1,652 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$57,072
Taxes and HOA fees
Annual Taxes
$9,520
Amenities
stainless steel appliances
wall/window A/C units
Building Details
Building Size
1,652 SF
Year Built
1956
Tenancy
Multi
Listing Agency:
Borell Realty, LLC
Listed By:
Andrea Borell · License #0563436
(561) 317-7578
Source:
Casacollectiongroup
Added: Aug 21
Changed: Oct 22
Last Checked: Oct 24 at 10:29PM
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 Borell Realty, LLC
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Investment Insights
Based on property information with market context.
This 1,652-square-foot duplex, built in 1956, contains two residential units, each configured with two bedrooms and one bathroom. Interior features include stainless steel appliances and hard-surface flooring without carpet. Wall or window air-conditioning units serve the residences, while separate electrical meters support individual utility tracking.
Both units are currently tenant-occupied. Residents are responsible for electric service, and water is paid by the landlord. The property is identified under zoning code 5700 and is located in Miami, Florida.
Both units are currently tenant-occupied. Residents are responsible for electric service, and water is paid by the landlord. The property is identified under zoning code 5700 and is located in Miami, Florida.
Key Highlights
- Two‑unit duplex with 1,652 SF of building area
- Two 2‑bedroom, 1‑bath units
- Separate electrical meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,132
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$662,640
$662.6K
Cap Rate 7%
$473,314
$473.3K
Cap Rate 9%
$368,133
$368.1K
Market Conditions
NOI Build-Up for 1,652 SF
Gross rent
$50.6K $30.60/SF
− Vacancy
−$3.2K −$1.95/SF
EGI
$47.3K $28.65/SF
− OpEx
−$14.2K −$8.60/SF
NOI
$33.1K $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 Rate 5%
$662,640
Cap Rate 7%
$473,314
Cap Rate 9%
$368,133
Alternative Uses
Best Use
Multifamily LT 5
$473.3K
$414.2K – $552.2K
NOI $33,132 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$436.0K
$381.5K – $508.6K
NOI $30,518 @ 7.0% cap · market cap 6.78%
Theoretical Best
Specialty Retail
$1.12M
$975.7K – $1.30M
NOI $78,058 @ 7.0% cap · market cap 17.35%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
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Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied duplex with stainless steel appliances, individual electric metering, and wall or window air conditioning.
Where is this duplex located?
The property is located at 1120 NE 111th St Miami, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,652 SF of building area; Two 2‑bedroom, 1‑bath units; Separate electrical meters for each unit
