New
For Sale
$990,000
221 NW 16th Ave, Miami, FL 33125
Residential Income, Miami, FL
Property Size1,890 SF
Price / SF$523.81
Days on Market2
Property Features for 221 NW 16th Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
6107
Bedrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 1
Parking
4
Subdivision
LAWRENCE ESTATE LAND CO
Lot features
< 1/4 Acre
Standard status
Active
APN
01-41-02-005-8220
Size
1,890 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
LAWRENCE ESTATE LAND COS SUB PB 2-46 N50FT LOTS 11-12 BLK 54 LOT SIZE 50.000 X 100 OR 15993-3636 0793 1 COC 25563-4936 04 2007 1
Tax Annual Amount
11634
Legal Description
LAWRENCE ESTATE LAND COS SUB PB 2-46 N50FT LOTS 11-12 BLK 54 LOT SIZE 50.000 X 100 OR 15993-3636 0793 1 COC 25563-4936 04 2007 1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Building Details
Year built
1952
Floors in Building
1
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Real Estate Sales Force
(305) 392-1497
Listed By:
Ismaris Texidor · License #3170107
(786) 647-0688
Added: Sep 25
Last Checked: Sep 26 at 3:06PM
MLS# A12095922
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.
Investment Insights
Based on property information with market context.
This Miami fourplex contains 1,890 square feet, with four bedrooms and four bathrooms. Built in 1952, the property has block construction and a shingle roof. T5L (Urban Center) zoning applies, and the site is served by public sewer; cable is available.
Located at 221 NW 16th Ave, the property is one block from loanDepot Park.
Located at 221 NW 16th Ave, the property is one block from loanDepot Park.
Key Highlights
- Fourplex with 1,890 square feet
- Four bedrooms and four bathrooms
- T5L (Urban Center) zoning
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
$37,905
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
3.83%
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%
$758,100
$758.1K
Cap Rate 7%
$541,500
$541.5K
Cap Rate 9%
$421,167
$421.2K
Market Conditions
NOI Build-Up for 1,890 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
$57.8K $30.60/SF
− Vacancy
−$3.7K −$1.95/SF
EGI
$54.1K $28.65/SF
− OpEx
−$16.2K −$8.60/SF
NOI
$37.9K $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%
$758,100
Cap Rate 7%
$541,500
Cap Rate 9%
$421,167
Alternative Uses
Best Use
Multifamily LT 5
$541.5K
$473.8K – $631.8K
NOI $37,905 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$498.8K
$436.4K – $581.9K
NOI $34,915 @ 7.0% cap · market cap 3.53%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,303 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,802
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
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Frequently Asked Questions
What type of property is this?
Quadplex - The building contains four bedrooms and four bathrooms.
Where is this quadplex located?
The property is located at 221 NW 16th Ave Miami, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Fourplex with 1,890 square feet; Four bedrooms and four bathrooms; T5L (Urban Center) zoning
