Four-Unit Multifamily
For Sale
$1,000,000
242 NE 55th Ter, Miami, FL 33137
Duplex configured as four units with modern finishes and a history of low vacancy.
Property Size1,620 SF
Price / SF$617.28
Days on Market702
Property Features for 242 NE 55th Ter
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Duplex
Additional Details
Opportunity Zone
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,815
Building Details
Building Size
1,620 SF
Year Built
1953
Listing Agency:
Green Lands Realty
Listed By:
Silvia Garaza · License #3307649
(786) 267-7248
Source:
Batrare
Added: Oct 25, 2024
Changed: Sep 18
Last Checked: Sep 26 at 11:57AM
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 Green Lands Realty
Investment Insights
Based on property information with market context.
Built in 1953, this multifamily property is configured as a duplex operating with four units. The residences feature modern finishes and ample natural light, with the layout supporting separate tenant accommodations within the existing building. The property also has an established rental history and has operated with low vacancy.
Located at 242 NE 55th Ter in Miami, the property is within an opportunity zone and near parks, public transportation, restaurants, schools, and other local amenities.
Located at 242 NE 55th Ter in Miami, the property is within an opportunity zone and near parks, public transportation, restaurants, schools, and other local amenities.
Key Highlights
- Duplex operating as four units
- Built in 1953
- Modern finishes and ample natural light
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
$32,490
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
3.25%
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%
$649,800
$649.8K
Cap Rate 7%
$464,143
$464.1K
Cap Rate 9%
$361,000
$361.0K
Market Conditions
NOI Build-Up for 1,620 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
$49.6K $30.60/SF
− Vacancy
−$3.2K −$1.95/SF
EGI
$46.4K $28.65/SF
− OpEx
−$13.9K −$8.60/SF
NOI
$32.5K $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%
$649,800
Cap Rate 7%
$464,143
Cap Rate 9%
$361,000
Alternative Uses
Best Use
Multifamily LT 5
$464.1K
$406.1K – $541.5K
NOI $32,490 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$427.5K
$374.1K – $498.8K
NOI $29,927 @ 7.0% cap · market cap 2.99%
Theoretical Best
Specialty Retail
$1.09M
$956.8K – $1.28M
NOI $76,546 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,219
Businesses Nearby
Explore this area
Business Placement
Demographics for 33137, FL
25,763
Population
15,237
Households
1.7
Avg Household Size
37
Median Age
51%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
12,882
Density / Sq Mi
$82,798
Median Household Income
$53,519
Median Earnings
$2,338
Median Rent
$532,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Duplex configured as four units with modern finishes and a history of low vacancy.
Where is this quadplex located?
The property is located at 242 NE 55th Ter Miami, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Duplex operating as four units; Built in 1953; Modern finishes and ample natural light
