Building Details

Year Built 1952

Listed By: Ileana Rodriguez Show Phone

Added: May 13 Changed: Jul 1

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,108

Cap Rate

3.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$782,160 $782.2K

Cap Rate 7%

$558,686 $558.7K

Cap Rate 9%

$434,533 $434.5K

Market Conditions

NOI Build-Up for 1,950 SF

Gross rent

$59.7K $30.60/SF

− Vacancy

−$3.8K −$1.95/SF

EGI

$55.9K $28.65/SF

− OpEx

−$16.8K −$8.60/SF

NOI

$39.1K $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 Rate 5%

$782,160

Cap Rate 7%

$558,686

Cap Rate 9%

$434,533

Alternative Uses

Best Use

Multifamily LT 5

$558.7K

$488.9K – $651.8K (±1% cap)

NOI $39,108 @ 7.0% cap · market cap 3.95%

Second Best

Apartment 5plus

$514.6K

$450.3K – $600.4K (±1% cap)

NOI $36,023 @ 7.0% cap · market cap 3.64%

Theoretical Best

Specialty Retail

$1.32M

$1.15M – $1.54M (±1% cap)

NOI $92,138 @ 7.0% cap · market cap 9.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Buffet Butcher Veterinary Clinic Restaurant Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,419

Businesses Nearby

Explore this area Business Placement

Demographics for 33127, FL

27,692

Population

11,245

Households

2.5

Avg Household Size

37

Median Age

13%

College-Educated

69%

High-School Grad

3.3 sq mi

ZIP Area

8,392

Density / Sq Mi

$41,125

Median Household Income

$30,240

Median Earnings

$1,394

Median Rent

$398,800

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Remodeled duplex in Midtown Miami with potential for 9 units.

Where is this duplex located?

The property is located at 160 Northwest 45Th St Miami, FL.

What is the asking price?

The asking price for this property is $989,000.