Four-Unit Townhome
For Sale
$2,950,000
16585 NE 3 AVE, 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 Market283
Property Features for 16585 NE 3 AVE
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:
Vanessafrankmiami
Added: Jan 11
Changed: Oct 18
Last Checked: Oct 19 at 3:26PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$117,325
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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
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 AVE 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.
