18-Unit Multifamily
11680 NE 18th Dr, North Miami, FL 33181
For Sale
New
$4,890,000
Commercial Sale, North Miami, FL
Property Size17,100 SF
Lot Size0.49 Acres
Price / SF$285.96
Days on Market2
Property Features for 11680 NE 18th Dr
General Information
Property type
Property subtype
Zoning description
Parking features
Lot features
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Floors in Building
Number of units
Building materials
Listing Agency:
Beycome of Florida LLC
Listed By:
Steven Koleno · License FL #3469487
(804) 656-5007
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 12 at 8:06PM
MLS# A12122289
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 18-unit multifamily property contains 17,100 square feet on approximately 0.4947 acres. The unit mix is 14 two-bedroom/one-bath units and four one-bedroom/one-bath units, totaling 32 bedrooms. Built in 1963 with concrete block construction, the building sustained fire damage on December 19, 2025, and is currently uninhabitable. The city has declared it unsafe. Interior entry is restricted because of hazardous conditions.
Master plans and partial-demolition plans have been submitted for city review, and contractor bidding is underway. Any redevelopment remains subject to city approval and applicable requirements. Parking is on street. Public transportation is nearby, and Bal Harbour and Surfside beaches are within minutes.
Master plans and partial-demolition plans have been submitted for city review, and contractor bidding is underway. Any redevelopment remains subject to city approval and applicable requirements. Parking is on street. Public transportation is nearby, and Bal Harbour and Surfside beaches are within minutes.
Key Highlights
- 18 multifamily units: 14 two‑bedroom/1‑bath and 4 one‑bedroom/1‑bath; 32 bedrooms total
- 17,100 square feet on 0.4947 acres
- Concrete block construction; built in 1963
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$265,352
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,307,040
$5.3M
Cap Rate 7%
$3,790,743
$3.8M
Cap Rate 9%
$2,948,356
$2.9M
Market Conditions
NOI Build-Up for 17,100 SF
Gross rent
$517.1K $30.24/SF
− Vacancy
−$34.6K −$2.03/SF
EGI
$482.5K $28.21/SF
− OpEx
−$217.1K −$12.70/SF
NOI
$265.4K $15.52/SF
Area
Miami-Dade County, FL
Vacancy
6.70%
Lease Rate
$30.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,307,040
Cap Rate 7%
$3,790,743
Cap Rate 9%
$2,948,356
Alternative Uses
Best Use
Apartment 5plus
$3.79M
$3.32M – $4.42M
NOI $265,352 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.34M
$8.17M – $10.89M
NOI $653,652 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
2,791
Businesses Nearby
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Business Placement
Demographics for 33181, FL
20,955
Population
9,401
Households
2.2
Avg Household Size
39
Median Age
41%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
6,985
Density / Sq Mi
$56,473
Median Household Income
$40,233
Median Earnings
$1,665
Median Rent
$315,200
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Miami-Dade County, FL
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Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fire damage has rendered the property uninhabitable, with redevelopment subject to municipal approval and applicable requirements.
Where is this apartment building located?
The property is located at 11680 NE 18th Dr North Miami, FL.
What is the asking price?
The asking price for this property is $4,890,000.
What are key features of this property?
This property features: 18 multifamily units: 14 two‑bedroom/1‑bath and 4 one‑bedroom/1‑bath; 32 bedrooms total; 17,100 square feet on 0.4947 acres; Concrete block construction; built in 1963
