Historic Grove Park
For Sale
$899,900
870 NW 14th Ct, Miami, FL 33125
Charming 1925 Spanish-style home with income-generating apartment.
Property Size2,415 SF
Days on Market259
Property Features for 870 NW 14th Ct
General Information
Standard status
Active
Size
2,415 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$6,759
Building Details
Building Size
2,415 SF
Year Built
1925
Stories
2
Units
2
Listing Agency:
(305) 331-5061
Listed By:
Jose Muse Jr. · License #0564138
(305) 331-5061
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Jul 16 at 7:42AM
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 Jose Muse Jr.
Investment Insights
Based on property information with market context.
This two-story Spanish-style home, constructed in 1925, is located in the Historic Grove Park neighborhood. The property retains original architectural details, including arched doorways, original tiles, and high ceilings. A mantle with a chimney is present, and the ballroom-style living room is suited for entertaining. A separate dining room adds elegance. The property includes an apartment in the back that can generate income. The location is near Loan Depot Park, the future Freedom Soccer Park, and the Airport. It is also within minutes of the University of Miami/Jackson Memorial Hospitals, Courthouse, River District, Downtown Miami, Brickell, and Miami Beach. This property presents an opportunity to own a piece of Miami's history.
Key Highlights
- Income‑generating apartment included.
- Historic 1925 Spanish‑style architecture with original details.**
- Prime location near Loan Depot Park, future Freedom Soccer Park, Airport, University of Miami/Jackson Memorial Hospitals, Courthouse, River District, Downtown Miami, Brickell & Miami Beach.
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
$48,434
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
5.38%
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%
$968,680
$968.7K
Cap Rate 7%
$691,914
$691.9K
Cap Rate 9%
$538,156
$538.2K
Market Conditions
NOI Build-Up for 2,415 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
$73.9K $30.60/SF
− Vacancy
−$4.7K −$1.95/SF
EGI
$69.2K $28.65/SF
− OpEx
−$20.8K −$8.60/SF
NOI
$48.4K $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%
$968,680
Cap Rate 7%
$691,914
Cap Rate 9%
$538,156
Alternative Uses
Best Use
Multifamily LT 5
$691.9K
$605.4K – $807.2K
NOI $48,434 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$637.3K
$557.7K – $743.6K
NOI $44,613 @ 7.0% cap · market cap 4.96%
Theoretical Best
Specialty Retail
$1.63M
$1.43M – $1.90M
NOI $114,110 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,619
Businesses Nearby
Explore this area
Business Placement
Demographics for 33125, FL
53,507
Population
22,496
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
69%
High-School Grad
3.9 sq mi
ZIP Area
13,720
Density / Sq Mi
$40,940
Median Household Income
$30,648
Median Earnings
$1,427
Median Rent
$377,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Charming 1925 Spanish-style home with income-generating apartment.
Where is this duplex located?
The property is located at 870 NW 14th Ct Miami, FL.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Income‑generating apartment included.; Historic 1925 Spanish‑style architecture with original details.**; Prime location near Loan Depot Park, future Freedom Soccer Park, Airport, University of Miami/Jackson Memorial Hospitals, Courthouse, River District, Downtown Miami, Brickell & Miami Beach.
