North Miami Beach
For Sale
$625,000
Pending
16204 NE 18th Ct, North Miami Beach, FL 33162
Duplex in North Miami Beach, great for homeowners or investors.
Property Size1,375 SF
Days on Market282
Property Features for 16204 NE 18th Ct
General Information
Standard status
Pending
Size
1,375 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,516
Building Details
Building Size
1,375 SF
Year Built
1952
Stories
1
Units
2
Listed By:
Anina Venuti
(305) 491-7709
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Jul 28 at 11:01AM
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 Anina Venuti
Investment Insights
Based on property information with market context.
This duplex is located in North Miami Beach, presenting opportunities for both homeowners and investors. Each side of the duplex features a matching layout with 2 beds and 1 bath. The interiors are designed for comfort and modern living. The property is set on a generous lot, providing a sense of privacy, with frontage and a spacious backyard suitable for outdoor gatherings. The property offers flexibility and value, allowing owners to live in one unit and rent the other, or lease both sides for rental income. It is located minutes from Oleta River State Park, Sunny Isles Beach, and Aventura Mall. The FIU campus is 2 miles away, potentially attracting student and faculty tenants. The property is close to US1 and I-95, situated in a vibrant neighborhood.
Key Highlights
- Duplex: Live in one unit and rent the other, or rent both for income.
- Prime Location: Minutes from Oleta River State Park, Sunny Isles Beach, and Aventura Mall.
- Investment Potential: Close to FIU (2 miles) for student/faculty tenants.
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
$22,921
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
3.67%
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%
$458,420
$458.4K
Cap Rate 7%
$327,443
$327.4K
Cap Rate 9%
$254,678
$254.7K
Market Conditions
NOI Build-Up for 1,375 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
$34.7K $25.20/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$32.7K $23.81/SF
− OpEx
−$9.8K −$7.14/SF
NOI
$22.9K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$458,420
Cap Rate 7%
$327,443
Cap Rate 9%
$254,678
Alternative Uses
Best Use
Multifamily LT 5
$327.4K
$286.5K – $382.0K
NOI $22,921 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$302.1K
$264.3K – $352.5K
NOI $21,147 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$697.6K
$610.4K – $813.9K
NOI $48,832 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 33162, FL
45,277
Population
16,719
Households
2.7
Avg Household Size
39
Median Age
21%
College-Educated
81%
High-School Grad
5.3 sq mi
ZIP Area
8,543
Density / Sq Mi
$55,993
Median Household Income
$31,848
Median Earnings
$1,535
Median Rent
$345,000
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?
Duplex - Duplex in North Miami Beach, great for homeowners or investors.
Where is this duplex located?
The property is located at 16204 NE 18th Ct North Miami Beach, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Duplex: Live in one unit and rent the other, or rent both for income.; Prime Location: Minutes from Oleta River State Park, Sunny Isles Beach, and Aventura Mall.; Investment Potential: Close to FIU (2 miles) for student/faculty tenants.
