Canal-Front
113 Grand Canal Dr, Miami, FL 33144
For Sale
$899,000
Two separate residences offer a 3-bedroom, 2-bath layout and a 2-bedroom, 1-bath layout.
Property Size2,271 SF
Days on Market19
Property Features for 113 Grand Canal Dr
General Information
Standard status
Size
Property subtype
Zoning
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Compass Florida, LLC
Listed By:
Liliana Galdo · License FL #3163186
(305) 331-5635
Source:
Marcelosteinmander
Added: Oct 23
Changed: Nov 6
Last Checked: Nov 10 at 5:17PM
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 Compass Florida, LLC
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Investment Insights
Based on property information with market context.
This 2,271-square-foot duplex, built in 1977, contains two residences: one with three bedrooms and two bathrooms, and another with two bedrooms and one bathroom. The roof was replaced two years ago, and both units have newer air-conditioning systems. Cosmetic updates are needed, and the property is tenant occupied; showings require 24 hours’ notice.
The property is zoned 3100 Multi-Family and fronts a canal. Its configuration and existing zoning are features to consider when evaluating the site; any development plans require confirmation with Miami-Dade County Zoning.
The property is zoned 3100 Multi-Family and fronts a canal. Its configuration and existing zoning are features to consider when evaluating the site; any development plans require confirmation with Miami-Dade County Zoning.
Key Highlights
- Two residences: one 3‑bedroom, 2‑bath unit and one 2‑bedroom, 1‑bath unit
- 2,271 square feet; built in 1977
- Canal frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,546
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,920
$910.9K
Cap Rate 7%
$650,657
$650.7K
Cap Rate 9%
$506,067
$506.1K
Market Conditions
NOI Build-Up for 2,271 SF
Gross rent
$69.5K $30.60/SF
− Vacancy
−$4.4K −$1.95/SF
EGI
$65.1K $28.65/SF
− OpEx
−$19.5K −$8.60/SF
NOI
$45.5K $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%
$910,920
Cap Rate 7%
$650,657
Cap Rate 9%
$506,067
Alternative Uses
Best Use
Multifamily LT 5
$650.7K
$569.3K – $759.1K
NOI $45,546 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$599.3K
$524.4K – $699.2K
NOI $41,953 @ 7.0% cap · market cap 4.67%
Theoretical Best
Specialty Retail
$1.53M
$1.34M – $1.79M
NOI $107,306 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Who owns this building?
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 33144, FL
25,814
Population
9,665
Households
2.7
Avg Household Size
48
Median Age
28%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
8,327
Density / Sq Mi
$59,207
Median Household Income
$35,051
Median Earnings
$1,730
Median Rent
$440,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Miami, FL
Properties on Market for Duplexes in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer a 3-bedroom, 2-bath layout and a 2-bedroom, 1-bath layout.
Where is this duplex located?
The property is located at 113 Grand Canal Dr Miami, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two residences: one 3‑bedroom, 2‑bath unit and one 2‑bedroom, 1‑bath unit; 2,271 square feet; built in 1977; Canal frontage
