12-Unit Apartment
220 NW 11th Ter, Miami, FL 33136
For Sale
$2,100,000
Residential Income, Miami, FL
Property Size6,234 SF
Lot Size0.17 Acres
Price / SF$336.86
Days on Market121
Property Features for 220 NW 11th Ter
General Information
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Zoning description
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Lot features
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APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
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Building Details
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Listing Agency:
Compass Florida, LLC
(305) 851-2820
Listed By:
Arthur Porosoff · License FL #3160379
(305) 209-8866
Added: Jul 18
Changed: Nov 6
Last Checked: Nov 15 at 3:06AM
MLS# A12019487
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 12-unit apartment property in Miami’s Overtown neighborhood contains eleven two-bedroom/one-bath units and one one-bedroom/one-bath unit. The building provides approximately 6,234 square feet of rentable area on a 7,500-square-foot corner parcel. Built in 1960, the structure features block construction, vinyl flooring, central heating, central air, tile and flat roofing, public sewer, and cable availability.
The property is zoned T6-8-O, which permits development of up to 8 stories. Current occupancy is 83.3%. Its location in Miami’s urban core, combined with the corner parcel and development allowance, creates both an existing multifamily configuration and a zoning framework for future redevelopment.
The property is zoned T6-8-O, which permits development of up to 8 stories. Current occupancy is 83.3%. Its location in Miami’s urban core, combined with the corner parcel and development allowance, creates both an existing multifamily configuration and a zoning framework for future redevelopment.
Key Highlights
- 12‑unit apartment property with 11 two‑bedroom/one‑bath units and 1 one‑bedroom/one‑bath unit
- Approximately 6,234 square feet of rentable area on a 7,500 SF corner lot
- T6‑8‑O zoning permits development up to 8 stories
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,163
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,303,260
$2.3M
Cap Rate 7%
$1,645,186
$1.6M
Cap Rate 9%
$1,279,589
$1.3M
Market Conditions
NOI Build-Up for 6,234 SF
Gross rent
$224.4K $36.00/SF
− Vacancy
−$15.0K −$2.41/SF
EGI
$209.4K $33.59/SF
− OpEx
−$94.2K −$15.11/SF
NOI
$115.2K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,303,260
Cap Rate 7%
$1,645,186
Cap Rate 9%
$1,279,589
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,163 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.21M
$3.68M – $4.91M
NOI $294,559 @ 7.0% cap · market cap 14.03%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
12
Residential units
83.3%
Occupancy
Location Intelligence
Trade Area within ½ mile
5,157
Businesses Nearby
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Business Placement
Demographics for 33136, FL
15,439
Population
7,994
Households
1.9
Avg Household Size
36
Median Age
25%
College-Educated
73%
High-School Grad
1.4 sq mi
ZIP Area
11,028
Density / Sq Mi
$43,481
Median Household Income
$34,130
Median Earnings
$1,337
Median Rent
$352,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Miami, FL
Properties on Market for Apartment buildings in Miami
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Urban multifamily asset with a varied unit mix, corner-lot positioning, and T6-8-O zoning in Miami’s Overtown neighborhood.
Where is this apartment building located?
The property is located at 220 NW 11th Ter Miami, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 12‑unit apartment property with 11 two‑bedroom/one‑bath units and 1 one‑bedroom/one‑bath unit; Approximately 6,234 square feet of rentable area on a 7,500 SF corner lot; T6‑8‑O zoning permits development up to 8 stories
