Private-Yard
New
For Sale
$849,000
1112 NE 111th Street, Miami, FL 33161
Two separate residences provide private outdoor areas, distinct entrances, and flexible occupancy or rental arrangements.
Property Size1,768 SF
Price / SF$483.49
Days on Market4
Property Features for 1112 NE 111th Street
General Information
Standard status
Active
Size
1,768 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
5700
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,712
Building Details
Building Size
1,768 SF
Year Built
1942
Stories
1
Listing Agency:
Florida One Realty
(305) 801-1978
Listed By:
Christina Morenza
(305) 801-1978
Source:
Laerrealty
Added: Aug 4
Changed: Aug 5
Last Checked: Aug 6 at 3:32AM
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 Florida One Realty
Investment Insights
Based on property information with market context.
This duplex, built in 1942, includes a three-bedroom, two-bath front residence and a separate one-bedroom home positioned at the rear. Each dwelling has its own entrance and private landscaped yard. The front home offers an open kitchen and living area with exposed wood beams, quartz counters, an island, bar seating, pantry storage, laundry facilities, and additional built-in storage. Updated bathroom vanities feature Cuban mahogany tops, and the interior has been freshly painted. The rear residence includes a separate kitchen and an efficient layout.
The property is located at 1112 NE 111th Street in Miami, between Miami Shores and Biscayne Park, with beaches and a marina nearby. The surrounding area permits short-term rentals, and the property is identified with zoning designation 5700.
The property is located at 1112 NE 111th Street in Miami, between Miami Shores and Biscayne Park, with beaches and a marina nearby. The surrounding area permits short-term rentals, and the property is identified with zoning designation 5700.
Key Highlights
- Two separate residences with independent entrances
- Front residence includes 3 bedrooms and 2 bathrooms
- Rear home offers 1 bedroom and a separate kitchen
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
$35,218
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
4.15%
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%
$704,360
$704.4K
Cap Rate 7%
$503,114
$503.1K
Cap Rate 9%
$391,311
$391.3K
Market Conditions
NOI Build-Up for 1,756 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
$53.7K $30.60/SF
− Vacancy
−$3.4K −$1.95/SF
EGI
$50.3K $28.65/SF
− OpEx
−$15.1K −$8.60/SF
NOI
$35.2K $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%
$704,360
Cap Rate 7%
$503,114
Cap Rate 9%
$391,311
Alternative Uses
Best Use
Multifamily LT 5
$503.1K
$440.2K – $587.0K
NOI $35,218 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$463.4K
$405.5K – $540.7K
NOI $32,439 @ 7.0% cap · market cap 3.82%
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.38M
NOI $82,972 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,568
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences provide private outdoor areas, distinct entrances, and flexible occupancy or rental arrangements.
Where is this duplex located?
The property is located at 1112 NE 111th Street Miami, FL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two separate residences with independent entrances; Front residence includes 3 bedrooms and 2 bathrooms; Rear home offers 1 bedroom and a separate kitchen
