Renovation-Ready
For Sale
$750,000
1380 Northeast 111th Street, Miami, FL 33161
Four-unit multifamily property offered as-is following damage and requiring renovation before occupancy.
Property Size1,749 SF
Price / SF$428.82
Days on Market157
Property Features for 1380 Northeast 111th Street
General Information
Standard status
Active
Size
1,749 SF
Property subtype
Multi-Family Income / Fourplex
Property Condition
Severity
Repairs Needed
Evidence
needs renovation
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,045
Building Details
Year Built
1953
Listing Agency:
Coldwell Banker Realty
(305) 931-8266
Listed By:
Alberto Fiure · License #3638209
(305) 931-8266
Source:
Compass
Added: Mar 27
Changed: Aug 29
Last Checked: Aug 29 at 1:40PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1,749 SF quadplex contains four residential units and is offered in as-is condition. The property sustained damage, and all units are currently vacant pending renovation. Built in 1953, the building provides a defined multifamily configuration for an owner or investor evaluating a restoration project.
The property is located at 1380 Northeast 111th Street in Miami, Florida 33161. Historical leasing performance indicates that all four units have rented, with no reported vacancy issue. Renovation requirements and current vacancy should be evaluated as part of the acquisition and improvement plan.
The property is located at 1380 Northeast 111th Street in Miami, Florida 33161. Historical leasing performance indicates that all four units have rented, with no reported vacancy issue. Renovation requirements and current vacancy should be evaluated as part of the acquisition and improvement plan.
Key Highlights
- Four‑unit multifamily property
- 1,749 SF building
- Currently vacant following property damage
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
$35,077
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
4.68%
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%
$701,540
$701.5K
Cap Rate 7%
$501,100
$501.1K
Cap Rate 9%
$389,744
$389.7K
Market Conditions
NOI Build-Up for 1,749 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
$53.5K $30.60/SF
− Vacancy
−$3.4K −$1.95/SF
EGI
$50.1K $28.65/SF
− OpEx
−$15.0K −$8.60/SF
NOI
$35.1K $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%
$701,540
Cap Rate 7%
$501,100
Cap Rate 9%
$389,744
Alternative Uses
Best Use
Multifamily LT 5
$501.1K
$438.5K – $584.6K
NOI $35,077 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$461.6K
$403.9K – $538.5K
NOI $32,310 @ 7.0% cap · market cap 4.31%
Theoretical Best
Specialty Retail
$1.18M
$1.03M – $1.38M
NOI $82,641 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,567
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?
Quadplex - Four-unit multifamily property offered as-is following damage and requiring renovation before occupancy.
Where is this quadplex located?
The property is located at 1380 Northeast 111th Street Miami, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four‑unit multifamily property; 1,749 SF building; Currently vacant following property damage
