Fourplex Near Sunny
For Sale
$1,250,000
151 NW 164th ST, Miami, FL 33169
Built in 1967, this Miami property provides a four-unit multifamily configuration near major highways.
Property Size3,185 SF
Days on Market102
Property Features for 151 NW 164th ST
General Information
Standard status
Active
Size
3,185 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$11,122
Building Details
Building Size
3,185 SF
Year Built
1967
Tenancy
Multi
Listing Agency:
Urban Development & Investments LLC
(786) 253-3148
Listed By:
Katty Chaparro · License #3330723
Source:
Vanessafrankmiami
Added: May 3
Changed: Aug 8
Last Checked: Aug 12 at 3:25PM
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 Urban Development & Investments LLC
Investment Insights
Based on property information with market context.
This fourplex in Miami, Florida, contains four residential units within a multifamily property built in 1967. The asset is located at 151 NW 164th ST and is offered for sale as a residential income property.
The property is situated near Sunny Isles and major highways, providing access to established regional destinations and transportation routes. Its four-unit configuration gives buyers a clearly defined multifamily format within the Miami market.
The property is situated near Sunny Isles and major highways, providing access to established regional destinations and transportation routes. Its four-unit configuration gives buyers a clearly defined multifamily format within the Miami market.
Key Highlights
- Fourplex with four residential units
- Built in 1967
- Located at 151 NW 164th ST, Miami, FL 33169
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
$63,877
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
5.11%
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%
$1,277,540
$1.3M
Cap Rate 7%
$912,529
$912.5K
Cap Rate 9%
$709,744
$709.7K
Market Conditions
NOI Build-Up for 3,185 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
$97.5K $30.60/SF
− Vacancy
−$6.2K −$1.95/SF
EGI
$91.3K $28.65/SF
− OpEx
−$27.4K −$8.60/SF
NOI
$63.9K $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%
$1,277,540
Cap Rate 7%
$912,529
Cap Rate 9%
$709,744
Alternative Uses
Best Use
Multifamily LT 5
$912.5K
$798.5K – $1.06M
NOI $63,877 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$840.5K
$735.5K – $980.6K
NOI $58,838 @ 7.0% cap · market cap 4.71%
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.51M
NOI $150,493 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,783
Businesses Nearby
Explore this area
Business Placement
Demographics for 33169, FL
42,308
Population
14,815
Households
2.9
Avg Household Size
37
Median Age
22%
College-Educated
85%
High-School Grad
6.8 sq mi
ZIP Area
6,222
Density / Sq Mi
$59,686
Median Household Income
$34,327
Median Earnings
$1,536
Median Rent
$352,800
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 - Built in 1967, this Miami property provides a four-unit multifamily configuration near major highways.
Where is this quadplex located?
The property is located at 151 NW 164th ST Miami, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Fourplex with four residential units; Built in 1967; Located at 151 NW 164th ST, Miami, FL 33169
