Renovated Duplex Near
For Sale
$1,350,000
247 NW 54th St, Miami, FL 33127
Renovated duplex with studio, near Wynwood and Design District.
Property Size2,156 SF
Days on Market279
Property Features for 247 NW 54th St
General Information
Standard status
Active
Size
2,156 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$2,500
Building Details
Building Size
2,156 SF
Year Built
1926
Stories
1
Listing Agency:
FIP Realty Services, LLC
Listed By:
Gregory Troy Cohen · License #3368879
(786) 563-2565
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 25
Last Checked: Sep 1 at 6:10PM
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 FIP Realty Services, LLC
Investment Insights
Based on property information with market context.
This property features a fully renovated duplex situated on a 6,650 sq ft lot. Located approximately 5 minutes from Wynwood and the Miami Design District, the property includes two 3-bedroom, 2-bath units and a separate studio. The units feature modern finishes and tile flooring throughout. Upgrades include impact windows and doors, a new roof, updated electrical and plumbing, and a brand-new AC. The property offers over 2700 sq ft of living space and has T5-0 Commercial zoning.
Key Highlights
- Prime location: Just 5 minutes from Wynwood and the Miami Design District.
- Fully renovated duplex with modern finishes and over 2700 sqft of living space.
- Includes a separate studio unit.
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
$43,240
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
3.20%
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%
$864,800
$864.8K
Cap Rate 7%
$617,714
$617.7K
Cap Rate 9%
$480,444
$480.4K
Market Conditions
NOI Build-Up for 2,156 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
$66.0K $30.60/SF
− Vacancy
−$4.2K −$1.95/SF
EGI
$61.8K $28.65/SF
− OpEx
−$18.5K −$8.60/SF
NOI
$43.2K $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 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%
$864,800
Cap Rate 7%
$617,714
Cap Rate 9%
$480,444
Alternative Uses
Best Use
Multifamily LT 5
$617.7K
$540.5K – $720.7K
NOI $43,240 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$569.0K
$497.9K – $663.8K
NOI $39,829 @ 7.0% cap · market cap 2.95%
Theoretical Best
Specialty Retail
$1.46M
$1.27M – $1.70M
NOI $101,872 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,219
Businesses Nearby
Explore this area
Business Placement
Demographics for 33127, FL
27,692
Population
11,245
Households
2.5
Avg Household Size
37
Median Age
13%
College-Educated
69%
High-School Grad
3.3 sq mi
ZIP Area
8,392
Density / Sq Mi
$41,125
Median Household Income
$30,240
Median Earnings
$1,394
Median Rent
$398,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex with studio, near Wynwood and Design District.
Where is this duplex located?
The property is located at 247 NW 54th St Miami, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime location: Just 5 minutes from Wynwood and the Miami Design District.; Fully renovated duplex with modern finishes and over 2700 sqft of living space.; Includes a separate studio unit.
