Corner Multifamily
New
For Sale
$675,000
11351 NW 11th Avenue, Miami, FL 33168
Current occupants hold month-to-month tenancies, allowing flexibility in future occupancy planning.
Property Size2,392 SF
Price / SF$300.80
Days on Market4
Property Features for 11351 NW 11th Avenue
General Information
Standard status
Active
Size
2,392 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
5700
Taxes and HOA fees
Annual Taxes
$6,781
Building Details
Building Size
2,392 SF
Year Built
1953
Stories
1
Tenancy
Multi
Listing Agency:
Premier Realty & Invest. Group
Listed By:
Ronald Henry · License #0662397
(305) 300-9653
Source:
Laerrealty
Added: Sep 24
Last Checked: Sep 26 at 4:31AM
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 Premier Realty & Invest. Group
Investment Insights
Based on property information with market context.
This corner multifamily property was built in 1953 and is occupied by tenants on month-to-month agreements. The recorded property size is 2,244, and the stated zoning designation is 5700.
The property is at 11351 NW 11th Avenue in Miami. Viewings are limited to drive-bys; interior access requires an accepted offer or seller approval. Visitors should not approach or disturb the tenants.
The property is at 11351 NW 11th Avenue in Miami. Viewings are limited to drive-bys; interior access requires an accepted offer or seller approval. Visitors should not approach or disturb the tenants.
Key Highlights
- Multifamily property built in 1953
- Tenants are on month‑to‑month agreements
- Corner property at 11351 NW 11th Avenue, Miami, FL 33168
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
$41,454
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
6.14%
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%
$829,080
$829.1K
Cap Rate 7%
$592,200
$592.2K
Cap Rate 9%
$460,600
$460.6K
Market Conditions
NOI Build-Up for 2,244 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
$80.8K $36.00/SF
− Vacancy
−$5.4K −$2.41/SF
EGI
$75.4K $33.59/SF
− OpEx
−$33.9K −$15.11/SF
NOI
$41.5K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$829,080
Cap Rate 7%
$592,200
Cap Rate 9%
$460,600
Alternative Uses
Best Use
Apartment 5plus
$592.2K
$518.2K – $690.9K
NOI $41,454 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.51M
$1.33M – $1.77M
NOI $106,030 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,050
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
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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?
Multifamily property - Current occupants hold month-to-month tenancies, allowing flexibility in future occupancy planning.
Where is this multifamily property located?
The property is located at 11351 NW 11th Avenue Miami, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Multifamily property built in 1953; Tenants are on month‑to‑month agreements; Corner property at 11351 NW 11th Avenue, Miami, FL 33168
