Building Details

Building Size 1,908 SF

Year Built 1955

Stories 1

Listing Agency: Realty One Group Evolution

Listed By: Claudia D Ramirez · License #3155155 Show Phone

Source: Silverleafrealtygroup

Added: Oct 2 Changed: Oct 6 Last Checked: Oct 5 at 9:27PM

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Investment Insights

Based on property information with market context.

Built in 1955, this single-story duplex contains two separate living units. The property sits on a corner parcel measuring approximately 18,080 SF (0.42 acres), with a tree-filled yard surrounding the homes.

Located in Biscayne Park, the property has no HOA.

Key Highlights

• Two units in a single‑story duplex
• Corner lot measuring approximately 18,080 SF (0.42 acres)
• Built in 1955

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,806

Cap Rate

2.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$636,120 $636.1K

Cap Rate 7%

$454,371 $454.4K

Cap Rate 9%

$353,400 $353.4K

Market Conditions

NOI Build-Up for 1,908 SF

Gross rent

$48.1K $25.20/SF

− Vacancy

−$2.6K −$1.39/SF

EGI

$45.4K $23.81/SF

− OpEx

−$13.6K −$7.14/SF

NOI

$31.8K $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 Rate 5%

$636,120

Cap Rate 7%

$454,371

Cap Rate 9%

$353,400

Alternative Uses

Best Use

Multifamily LT 5

$454.4K

$397.6K – $530.1K (±1% cap)

NOI $31,806 @ 7.0% cap · market cap 2.96%

Second Best

Apartment 5plus

$419.2K

$366.8K – $489.1K (±1% cap)

NOI $29,344 @ 7.0% cap · market cap 2.73%

Theoretical Best

Office A

$968.0K

$847.0K – $1.13M (±1% cap)

NOI $67,761 @ 7.0% cap · market cap 6.30%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Butcher Veterinary Clinic (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Clothing & Fashion Store Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,130

Businesses Nearby

Explore this area 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

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two distinct residences occupy a single-level property with no HOA restrictions.

Where is this duplex located?

The property is located at 1120 NE 115th Street Biscayne Park, FL.

What is the asking price?

The asking price for this property is $1,075,000.

What are key features of this property?

This property features: Two units in a single‑story duplex; Corner lot measuring approximately 18,080 SF (0.42 acres); Built in 1955