Residential Income Corner Lot
For Sale
$819,000
Pending
1800 Northwest 18th Terrace, Miami, FL 33125
Spacious triplex with excellent tenants, ideal for investors.
Property Size2,636 SF
Days on Market154
Property Features for 1800 Northwest 18th Terrace
General Information
Standard status
Pending
Size
2,636 SF
Property subtype
Residential Income / Triplex
Taxes and HOA fees
Annual Taxes
$11,084
Building Details
Year Built
1925
Listing Agency:
UNIVERSAL REALTY GROUP, LLC.
(786) 625-4843
Listed By:
Mayelin Ortega Gonzalez · License #3497315
(786) 625-4843
Source:
Compass
Added: Mar 13
Changed: Aug 8
Last Checked: Jul 16 at 6:27AM
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 UNIVERSAL REALTY GROUP, LLC.
Investment Insights
Based on property information with market context.
This residential income property, perfect for investors, is situated on a spacious corner lot. The property features a triplex configuration, with each of the three units containing 2 bedrooms and 1 bath. Each unit includes a washer and dryer. The property is currently rented with tenants. Its location offers proximity to essential amenities such as a hospital, expressways, and schools.
Key Highlights
- Residential income property ideal for investors
- Three units, each featuring 2 bedrooms and 1 bath
- Each unit includes a washer and dryer
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
$52,866
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
6.45%
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%
$1,057,320
$1.1M
Cap Rate 7%
$755,229
$755.2K
Cap Rate 9%
$587,400
$587.4K
Market Conditions
NOI Build-Up for 2,636 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
$80.7K $30.60/SF
− Vacancy
−$5.1K −$1.95/SF
EGI
$75.5K $28.65/SF
− OpEx
−$22.7K −$8.60/SF
NOI
$52.9K $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%
$1,057,320
Cap Rate 7%
$755,229
Cap Rate 9%
$587,400
Alternative Uses
Best Use
Multifamily LT 5
$755.2K
$660.8K – $881.1K
NOI $52,866 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$695.7K
$608.7K – $811.6K
NOI $48,696 @ 7.0% cap · market cap 5.95%
Theoretical Best
Specialty Retail
$1.78M
$1.56M – $2.08M
NOI $124,552 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,038
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 - Spacious triplex with excellent tenants, ideal for investors.
Where is this triplex located?
The property is located at 1800 Northwest 18th Terrace Miami, FL.
What is the asking price?
The asking price for this property is $819,000.
What are key features of this property?
This property features: Residential income property ideal for investors; Three units, each featuring 2 bedrooms and 1 bath; Each unit includes a washer and dryer
