Multifamily Property Near Marlins
For Sale
$675,000
163 NW 18th Ct, Miami, FL 33125
Multifamily property with three units near major Miami locations.
Property Size2,561 SF
Days on Market172
Property Features for 163 NW 18th Ct
General Information
Standard status
Active
Size
2,561 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$12,446
Building Details
Building Size
2,561 SF
Year Built
1953
Stories
1
Units
3
Listing Agency:
(305) 807-0580
Listed By:
Nelly David · License #0690899
(305) 807-0580
Source:
Elliman
Added: Mar 10
Changed: Aug 12
Last Checked: Aug 26 at 12:02PM
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 Nelly David
Investment Insights
Based on property information with market context.
This multifamily property, zoned for multifamily use (2-9 units), is located a few blocks from Marlins Stadium in a dynamic Miami neighborhood. It offers convenient access to major highways and is situated minutes from Brickell, Downtown, Coral Gables, Miami Beach, Wynwood, and Coconut Grove. The property features three units, each with a private entrance: two units with 2 bedrooms and 1 bathroom, one unit with 3 bedrooms and 1 bathroom, and one unit with 1 bedroom and 1 bathroom. The units are currently rented month-to-month. This property presents an opportunity for renovation and is suitable for investors seeking growth potential or owner-occupants looking for rental income. Public transportation is easily accessible from the location.
Key Highlights
- Multifamily property featuring 3 units with rental income potential.
- Zoned Multifamily (2–9 Units) offering flexibility.
- Prime location near Marlins Stadium in a growing area of Miami.
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
$51,362
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
7.61%
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%
$1,027,240
$1.0M
Cap Rate 7%
$733,743
$733.7K
Cap Rate 9%
$570,689
$570.7K
Market Conditions
NOI Build-Up for 2,561 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
$78.4K $30.60/SF
− Vacancy
−$5.0K −$1.95/SF
EGI
$73.4K $28.65/SF
− OpEx
−$22.0K −$8.60/SF
NOI
$51.4K $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%
$1,027,240
Cap Rate 7%
$733,743
Cap Rate 9%
$570,689
Alternative Uses
Best Use
Multifamily LT 5
$733.7K
$642.0K – $856.0K
NOI $51,362 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$675.9K
$591.4K – $788.5K
NOI $47,310 @ 7.0% cap · market cap 7.01%
Theoretical Best
Specialty Retail
$1.73M
$1.51M – $2.02M
NOI $121,008 @ 7.0% cap · market cap 17.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,178
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property with three units near major Miami locations.
Where is this triplex located?
The property is located at 163 NW 18th Ct Miami, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Multifamily property featuring 3 units with rental income potential.; Zoned Multifamily (2–9 Units) offering flexibility.; Prime location near Marlins Stadium in a growing area of Miami.
