Triplex with Private
For Sale
$675,000
163 NW 18th Ct, Miami, FL 33125
Residential Income, Miami, FL
Property Size2,561 SF
Price / SF$263.57
Days on Market61
Property Features for 163 NW 18th Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
6
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 5
Parking
3
Exterior features
Fence
Fencing
Fenced
Subdivision
HILLCREST
Lot features
< 1/4 Acre
Directions
West Flagler (968) North on 18 Avenue, East on NW 1 Street, North on 18 Court, property on East side.
Standard status
Active
APN
01-41-03-011-0470
Size
2,561 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
HILLCREST PB 1-178 LOT 43 LOT SIZE 49.000 X 150 OR 20584-4642 07 2002 1 COC 23944-1125 10 2005 1
Tax Annual Amount
12446
Legal Description
HILLCREST PB 1-178 LOT 43 LOT SIZE 49.000 X 150 OR 20584-4642 07 2002 1 COC 23944-1125 10 2005 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace, Electric (Heating)
Cooling system
Wall/Window Unit(s), Electric, Window Unit(s)
Building Details
Year built
1953
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
BHHS EWM Realty
(305) 960-2400
Listed By:
Nelly David PA · License #0690899
(305) 807-0580
Added: Jun 29
Changed: Aug 26
Last Checked: Aug 28 at 7:06PM
MLS# A11850559
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,561-square-foot triplex, built in 1953, contains three separately entered residences: one with two bedrooms and one bathroom, another with three bedrooms and one bathroom, and a one-bedroom, one-bathroom unit. The property is block construction with tile flooring, a shingle roof, wall and window unit cooling, electric heating, fencing, and public sewer service.
Located at 163 NW 18th Ct in Miami, the property is near Marlins Stadium and public transportation, with access to major highways. Brickell, Downtown Miami, Coral Gables, Miami Beach, Wynwood, and Coconut Grove are identified as nearby destinations. The units are occupied on a month-to-month basis and the property is zoned Multifamily (2-9 Units).
Located at 163 NW 18th Ct in Miami, the property is near Marlins Stadium and public transportation, with access to major highways. Brickell, Downtown Miami, Coral Gables, Miami Beach, Wynwood, and Coconut Grove are identified as nearby destinations. The units are occupied on a month-to-month basis and the property is zoned Multifamily (2-9 Units).
Key Highlights
- 2,561‑square‑foot triplex with 3 separately entered units
- Unit mix includes 2 bd/1 bth, 3 bd/1 bth, and 1 bd/1 bth residences
- Zoned Multifamily (2‑9 Units)
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
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,333
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property offering separately accessed residences with a varied bedroom mix and month-to-month occupancy.
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: 2,561‑square‑foot triplex with 3 separately entered units; Unit mix includes 2 bd/1 bth, 3 bd/1 bth, and 1 bd/1 bth residences; Zoned Multifamily (2‑9 Units)
