Renovated Efficiency
For Sale
$739,000
1220-1222 NE 110th Ter, Miami, FL 33161
Three-unit residential property with a renovated efficiency and separately metered apartments.
Property Size2,090 SF
Price / SF$353.59
Days on Market196
Property Features for 1220-1222 NE 110th Ter
General Information
Standard status
Active
Size
2,090 SF
Property subtype
Triplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x efficiency
Multifamily Units
3
Additional Details
Asking Price
$749,000
Taxes and HOA fees
Annual Taxes
$8,212
Building Details
Building Size
2,090 SF
Year Built
1954
Listing Agency:
Dalton Wade Inc
(941) 266-6873
Listed By:
Elizabeth Hicks · License #3625758
Source:
Casacollectiongroup
Added: Feb 13
Changed: Aug 22
Last Checked: Aug 26 at 1:08PM
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 Dalton Wade Inc
Investment Insights
Based on property information with market context.
This 2,090-square-foot triplex, built in 1954, contains three residential units: two two-bedroom, one-bath apartments and one renovated efficiency. The property is configured for separate electric metering, with tenants responsible for their own electricity. Water is included up to $75 per month, while any excess is divided among the tenants.
The property is positioned near Biscayne Blvd in Miami, with shopping centers, restaurants, and businesses in the surrounding area. Downtown Miami, beaches, and major highways are described as minutes away, providing access to major employment, retail, dining, and transportation destinations.
The property is positioned near Biscayne Blvd in Miami, with shopping centers, restaurants, and businesses in the surrounding area. Downtown Miami, beaches, and major highways are described as minutes away, providing access to major employment, retail, dining, and transportation destinations.
Key Highlights
- Three‑unit triplex with two 2/1 apartments and one efficiency
- 2,090 SF residential property built in 1954
- Renovated efficiency unit leased through August 31, 2026 with option to renew
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
$41,916
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
5.67%
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%
$838,320
$838.3K
Cap Rate 7%
$598,800
$598.8K
Cap Rate 9%
$465,733
$465.7K
Market Conditions
NOI Build-Up for 2,090 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
$64.0K $30.60/SF
− Vacancy
−$4.1K −$1.95/SF
EGI
$59.9K $28.65/SF
− OpEx
−$18.0K −$8.60/SF
NOI
$41.9K $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%
$838,320
Cap Rate 7%
$598,800
Cap Rate 9%
$465,733
Alternative Uses
Best Use
Multifamily LT 5
$598.8K
$524.0K – $698.6K
NOI $41,916 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$551.6K
$482.6K – $643.5K
NOI $38,609 @ 7.0% cap · market cap 5.22%
Theoretical Best
Specialty Retail
$1.41M
$1.23M – $1.65M
NOI $98,753 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,090
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with a renovated efficiency and separately metered apartments.
Where is this triplex located?
The property is located at 1220-1222 NE 110th Ter Miami, FL.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: Three‑unit triplex with two 2/1 apartments and one efficiency; 2,090 SF residential property built in 1954; Renovated efficiency unit leased through August 31, 2026 with option to renew
