Four-Unit Townhome
For Sale
$2,950,000
16585 NE 3 Avenue, Miami, FL 33162
Built in 2014, this four-unit townhome property includes two 3-bedroom, 3-bath and two 3-bedroom, 2.5-bath residences with private patios.
Property Size5,850 SF
Days on Market236
Property Features for 16585 NE 3 Avenue
General Information
Standard status
Active
Size
5,850 SF
Property subtype
Quadruplex
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$16,962
Building Details
Building Size
5,850 SF
Year Built
2014
Tenancy
Multi
Listing Agency:
Bruckman Realty, LLC
Listed By:
Abdiel Ramos · License #3408230
(786) 447-2828
Source:
Silverleafrealtygroup
Added: Jan 12
Changed: Sep 2
Last Checked: Sep 5 at 5:34AM
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 Bruckman Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained four-unit townhome building was constructed in 2014 and is arranged as two spacious 3-bedroom, 3-bath townhomes and two 3-bedroom, 2.5-bath townhomes. Each unit features an open layout with generous natural light and contemporary finishes. Every townhouse includes a private patio for outdoor living.
The property is located in North Miami Beach with easy access to major regional roads, including the Florida Turnpike, I-95, the Palmetto Expressway, and Miami Beach, supporting convenient commuting and travel.
Additional highlights include separate utilities and low maintenance requirements, offering a practical setup for long-term occupancy.
The property is located in North Miami Beach with easy access to major regional roads, including the Florida Turnpike, I-95, the Palmetto Expressway, and Miami Beach, supporting convenient commuting and travel.
Additional highlights include separate utilities and low maintenance requirements, offering a practical setup for long-term occupancy.
Key Highlights
- Built in 2014, this 4‑unit townhome property offers modern construction and a low‑maintenance setup.
- Two townhomes are 3‑bed/3‑bath, and two townhomes are 3‑bed/2.5‑bath (4 total residences).
- Each residence includes a private patio for outdoor space.
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
$117,325
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
3.98%
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%
$2,346,500
$2.3M
Cap Rate 7%
$1,676,071
$1.7M
Cap Rate 9%
$1,303,611
$1.3M
Market Conditions
NOI Build-Up for 5,850 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
$179.0K $30.60/SF
− Vacancy
−$11.4K −$1.95/SF
EGI
$167.6K $28.65/SF
− OpEx
−$50.3K −$8.60/SF
NOI
$117.3K $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%
$2,346,500
Cap Rate 7%
$1,676,071
Cap Rate 9%
$1,303,611
Alternative Uses
Best Use
Multifamily LT 5
$1.68M
$1.47M – $1.96M
NOI $117,325 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $108,069 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$3.95M
$3.46M – $4.61M
NOI $276,415 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,022
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?
Quadplex - Built in 2014, this four-unit townhome property includes two 3-bedroom, 3-bath and two 3-bedroom, 2.5-bath residences with private patios.
Where is this quadplex located?
The property is located at 16585 NE 3 Avenue Miami, FL.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Built in 2014, this 4‑unit townhome property offers modern construction and a low‑maintenance setup.; Two townhomes are 3‑bed/3‑bath, and two townhomes are 3‑bed/2.5‑bath (4 total residences).; Each residence includes a private patio for outdoor space.
