Modern Duplex in Prime
For Sale
$880,000
11515 NE 12th Ave, Miami, FL 33161
Luxury duplex with potential for additional unit and high income.
Property Size2,331 SF
Lot Size8,428.00 Acres
Price / SF$377.52
Days on Market271
Property Features for 11515 NE 12th Ave
General Information
Standard status
Active
Size
2,331 SF
Lot size
8,428.00 Acres
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$12,111
Building Details
Building Size
2,331 SF
Year Built
1960
Listing Agency:
Beachfront Realty Inc
Listed By:
Monica Urrutia Juri · License #3196450
(786) 356-3445
Source:
Casacollectiongroup
Added: Jan 27
Changed: Oct 17
Last Checked: Oct 24 at 10:32PM
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 Beachfront Realty Inc
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Investment Insights
Based on property information with market context.
This modern duplex features a total of 6 bedrooms and 2 bathrooms, with each unit containing 3 bedrooms and 1 bathroom. Situated in a strategic location, the property includes a unique basement that offers the potential for conversion into an additional unit. The building has 2,569 square feet of construction on a large 8,428 square foot lot. The property has been renovated throughout and includes impact windows and central air conditioning, along with updated electrical systems. The open kitchen features a bar, family room, and private yard with fruit trees. The property is located 3 blocks from Biscayne Park and Miami Shores, and is in close proximity to the Biscayne corridor and Whole Foods. Both units are currently rented. Unit 11515 is rented for $2800 with the lease expiring in December 2026, and Unit 11517 is rented for $3100 with the lease also expiring in December 2026. The property has the potential to generate $8000 monthly if rented short term.
Key Highlights
- Duplex with two 3‑bedroom, 1‑bathroom units, offering immediate rental income potential.
- Large 8,428 sq ft lot with 2,569 sq ft of construction and potential for expansion or additional unit in the basement.
- Completely renovated with impact windows, central A/C, and new electrical system.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,749
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$934,980
$935.0K
Cap Rate 7%
$667,843
$667.8K
Cap Rate 9%
$519,433
$519.4K
Market Conditions
NOI Build-Up for 2,331 SF
Gross rent
$71.3K $30.60/SF
− Vacancy
−$4.5K −$1.95/SF
EGI
$66.8K $28.65/SF
− OpEx
−$20.0K −$8.60/SF
NOI
$46.7K $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%
$934,980
Cap Rate 7%
$667,843
Cap Rate 9%
$519,433
Alternative Uses
Best Use
Multifamily LT 5
$667.8K
$584.4K – $779.2K
NOI $46,749 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$615.2K
$538.3K – $717.7K
NOI $43,061 @ 7.0% cap · market cap 4.89%
Theoretical Best
Specialty Retail
$1.57M
$1.38M – $1.84M
NOI $110,141 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,783
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Luxury duplex with potential for additional unit and high income.
Where is this duplex located?
The property is located at 11515 NE 12th Ave Miami, FL.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Duplex with two 3‑bedroom, 1‑bathroom units, offering immediate rental income potential.; Large 8,428 sq ft lot with 2,569 sq ft of construction and potential for expansion or additional unit in the basement.; Completely renovated with **impact windows, central A/C, and new electrical system.**
