Renovated Triplex with Impact
For Sale
$1,168,000
2160 Nw 18th St, Miami, FL 33125
Three-unit multifamily property with updated appliances, private laundry, and full occupancy under one-year leases.
Property Size2,552 SF
Price / SF$457.68
Days on Market31
Property Features for 2160 Nw 18th St
General Information
Standard status
Active
Size
2,552 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,464
Amenities
new appliances
impact windows and doors
washer and dryer
Listing Agency:
Luxe Properties
(305) 809-7650
Listed By:
Nicole Trenk · License #3525425
(214) 909-3817
Source:
Exprealty
Added: Aug 12
Changed: Sep 10
Last Checked: Sep 10 at 3:10PM
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 Luxe Properties
Investment Insights
Based on property information with market context.
This 2,552-square-foot triplex includes three living units and has undergone renovation from floor to ceiling. Improvements include new appliances, impact-resistant windows and doors, and a dedicated washer and dryer for each unit. The property is fully rented, with each unit subject to a one-year lease.
The property is near Downtown and MIA airports. The rear unit has an outstanding City of Miami compliance issue that the buyer will assume and address. The cited items include fencing, electrical, and plumbing work. The property is documented as containing three living units in Dade County tax roll public records. Showings require advance coordination to accommodate the tenants.
The property is near Downtown and MIA airports. The rear unit has an outstanding City of Miami compliance issue that the buyer will assume and address. The cited items include fencing, electrical, and plumbing work. The property is documented as containing three living units in Dade County tax roll public records. Showings require advance coordination to accommodate the tenants.
Key Highlights
- 2,552‑square‑foot triplex with 3 living units
- Recently renovated with new appliances and impact windows and doors
- Each unit has its own 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
$51,182
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
4.38%
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%
$1,023,640
$1.0M
Cap Rate 7%
$731,171
$731.2K
Cap Rate 9%
$568,689
$568.7K
Market Conditions
NOI Build-Up for 2,552 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
$78.1K $30.60/SF
− Vacancy
−$5.0K −$1.95/SF
EGI
$73.1K $28.65/SF
− OpEx
−$21.9K −$8.60/SF
NOI
$51.2K $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%
$1,023,640
Cap Rate 7%
$731,171
Cap Rate 9%
$568,689
Alternative Uses
Best Use
Multifamily LT 5
$731.2K
$639.8K – $853.0K
NOI $51,182 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$673.5K
$589.3K – $785.7K
NOI $47,144 @ 7.0% cap · market cap 4.04%
Theoretical Best
Specialty Retail
$1.72M
$1.51M – $2.01M
NOI $120,583 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,124
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Three-unit multifamily property with updated appliances, private laundry, and full occupancy under one-year leases.
Where is this triplex located?
The property is located at 2160 Nw 18th St Miami, FL.
What is the asking price?
The asking price for this property is $1,168,000.
What are key features of this property?
This property features: 2,552‑square‑foot triplex with 3 living units; Recently renovated with new appliances and impact windows and doors; Each unit has its own washer and dryer
