Single-Story
For Sale
$650,000
20 NE 169TH Street # 2 Unit 1-2, North Miami Beach, FL 33162
Two-unit residential property with a compact single-level layout in North Miami Beach.
Property Size1,241 SF
Price / SF$523.77
Days on Market13
Property Features for 20 NE 169TH Street # 2 Unit 1-2
General Information
Standard status
Active
Size
1,241 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,873
Building Details
Building Size
1,241 SF
Year Built
1956
Stories
1
Listing Agency:
Grandiose Real Estate LLC
(954) 258-1435
Listed By:
Brian J McCarthy · License #3213610
Source:
Vanessafrankmiami
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 31 at 12:30AM
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 Grandiose Real Estate LLC
Investment Insights
Based on property information with market context.
This single-story duplex contains 1,241 square feet of finished living space arranged across two residential units. Built in 1956, the property offers a straightforward configuration within an established residential setting.
The building is located in North Miami Beach, Florida, with the address identified as 20 NE 169TH Street # 2, Unit 1-2. Its two-unit structure provides separate residential spaces within one compact property.
The building is located in North Miami Beach, Florida, with the address identified as 20 NE 169TH Street # 2, Unit 1-2. Its two-unit structure provides separate residential spaces within one compact property.
Key Highlights
- Two‑unit duplex configuration
- 1,241 square feet of finished living space
- Single‑story building layout
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
$20,687
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
3.18%
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%
$413,740
$413.7K
Cap Rate 7%
$295,529
$295.5K
Cap Rate 9%
$229,856
$229.9K
Market Conditions
NOI Build-Up for 1,241 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
$31.3K $25.20/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$29.6K $23.81/SF
− OpEx
−$8.9K −$7.14/SF
NOI
$20.7K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$413,740
Cap Rate 7%
$295,529
Cap Rate 9%
$229,856
Alternative Uses
Best Use
Multifamily LT 5
$295.5K
$258.6K – $344.8K
NOI $20,687 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$272.7K
$238.6K – $318.1K
NOI $19,086 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$629.6K
$550.9K – $734.6K
NOI $44,073 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,074
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?
Duplex - Two-unit residential property with a compact single-level layout in North Miami Beach.
Where is this duplex located?
The property is located at 20 NE 169TH Street # 2 Unit 1-2 North Miami Beach, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,241 square feet of finished living space; Single‑story building layout
