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 Market242
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
Listed By:
Elizabeth Hicks · License #3625758
(941) 266-6873
Source:
Casacollectiongroup
Added: Feb 13
Changed: Oct 4
Last Checked: Oct 13 at 12:12AM
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 / Yr
$41,916
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
