4-Unit
New
For Sale
$1,275,000
85 NW 17th Pl, Miami, FL 33125
Four one-bedroom apartments, each with a private bathroom, comprise this multifamily property.
Property Size3,852 SF
Days on Market3
Property Features for 85 NW 17th Pl
General Information
Standard status
Active
Size
3,852 SF
Property subtype
Investment
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,450
Building Details
Building Size
3,852 SF
Year Built
1920
Stories
2
Units
4
Listed By:
Daisy Machado-Vazquez
(305) 308-8249
Source:
Elliman
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 2 at 9:36PM
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 Daisy Machado-Vazquez
Investment Insights
Based on property information with market context.
Built in 1920, this quadplex contains four apartments, each configured with one bedroom and one bathroom. The property is at 85 NW 17th Pl in Miami.
WalkScore is 94 (Walker's Paradise), BikeScore is 57 (Bikeable), and TransitScore is 50 (Good Transit).
WalkScore is 94 (Walker's Paradise), BikeScore is 57 (Bikeable), and TransitScore is 50 (Good Transit).
Key Highlights
- Four apartments, each with 1 bedroom and 1 bathroom
- Built in 1920
- WalkScore: 94, Walker's Paradise
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
$77,254
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
6.06%
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%
$1,545,080
$1.5M
Cap Rate 7%
$1,103,629
$1.1M
Cap Rate 9%
$858,378
$858.4K
Market Conditions
NOI Build-Up for 3,852 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
$117.9K $30.60/SF
− Vacancy
−$7.5K −$1.95/SF
EGI
$110.4K $28.65/SF
− OpEx
−$33.1K −$8.60/SF
NOI
$77.3K $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%
$1,545,080
Cap Rate 7%
$1,103,629
Cap Rate 9%
$858,378
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$965.7K – $1.29M
NOI $77,254 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$1.02M
$889.5K – $1.19M
NOI $71,160 @ 7.0% cap · market cap 5.58%
Theoretical Best
Specialty Retail
$2.60M
$2.28M – $3.03M
NOI $182,009 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,788
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments, each with a private bathroom, comprise this multifamily property.
Where is this quadplex located?
The property is located at 85 NW 17th Pl Miami, FL.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Four apartments, each with 1 bedroom and 1 bathroom; Built in 1920; WalkScore: 94, Walker's Paradise
