Renovated Furnished
New
For Sale
$675,000
234 NE 111th Street, Miami, FL 33161
Two updated residential units across from Barry University, with furnished interiors and rental use flexibility.
Property Size1,848 SF
Price / SF$379.21
Days on Market2
Property Features for 234 NE 111th Street
General Information
Standard status
Active
Size
1,848 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
5700
Units
Unit Mix
2 x 3BD/1BA
Multifamily Units
2
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$8,895
Amenities
shared washer/dryer
Building Details
Building Size
1,848 SF
Year Built
1947
Year Renovated
2025
Buildings
1
Listing Agency:
Cosmo International Investment Group
Listed By:
Emmanuel J Aldabe · License #3059018
(305) 796-6966
Source:
Laerrealty
Added: Sep 9
Last Checked: Sep 9 at 3:18PM
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 Cosmo International Investment Group
Investment Insights
Based on property information with market context.
This duplex contains two 3BD/1BA units and is offered fully furnished following a full renovation. Interior finishes include polished terrazzo flooring throughout, while both residences share a washer and dryer positioned at the rear of the property.
Major work completed in 2025 includes a new roof, electrical system, plumbing, appliances, and two new A/C systems. Built in 1947, the property is located at 234 NE 111th Street directly across from Barry University. The units are positioned for student housing as well as short-term or long-term rental use, and the configuration also supports an owner-occupant arrangement.
Major work completed in 2025 includes a new roof, electrical system, plumbing, appliances, and two new A/C systems. Built in 1947, the property is located at 234 NE 111th Street directly across from Barry University. The units are positioned for student housing as well as short-term or long-term rental use, and the configuration also supports an owner-occupant arrangement.
Key Highlights
- Two 3BD/1BA units in a single duplex
- Fully furnished and fully renovated
- 2025 upgrades include roof, electrical, plumbing, appliances, and two new A/C systems
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
$35,699
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
5.29%
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%
$713,980
$714.0K
Cap Rate 7%
$509,986
$510.0K
Cap Rate 9%
$396,656
$396.7K
Market Conditions
NOI Build-Up for 1,780 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
$54.5K $30.60/SF
− Vacancy
−$3.5K −$1.95/SF
EGI
$51.0K $28.65/SF
− OpEx
−$15.3K −$8.60/SF
NOI
$35.7K $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%
$713,980
Cap Rate 7%
$509,986
Cap Rate 9%
$396,656
Alternative Uses
Best Use
Multifamily LT 5
$510.0K
$446.2K – $595.0K
NOI $35,699 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$469.8K
$411.0K – $548.1K
NOI $32,883 @ 7.0% cap · market cap 4.87%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,106 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
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Business Placement
Demographics for 33161, FL
53,015
Population
18,912
Households
2.8
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
9,639
Density / Sq Mi
$55,265
Median Household Income
$34,311
Median Earnings
$1,494
Median Rent
$376,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated residential units across from Barry University, with furnished interiors and rental use flexibility.
Where is this duplex located?
The property is located at 234 NE 111th Street Miami, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two 3BD/1BA units in a single duplex; Fully furnished and fully renovated; 2025 upgrades include roof, electrical, plumbing, appliances, and two new A/C systems
