Block-Built
New
For Sale
$1,000,000
242 NE 55th Ter, Miami, FL 33137
Residential Income, Miami, FL
Property Size1,620 SF
Price / SF$617.28
Days on Market4
Property Features for 242 NE 55th Ter
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
5700
Bedrooms
5
Full bathrooms
5
Half bathrooms
3
Rooms
Bedroom 5, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 6, Bathroom 5, Bedroom 4, Bathroom 1, Bathroom 8, Bathroom 7
Parking
4
Window features
Blinds
Exterior features
Fence, Lighting
Fencing
Fenced
Subdivision
DIXIE HIGHWAY TRACK
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-13-065-0720
Size
1,620 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
DIXIE HIGHWAY TR PB 5-24 LOT 7 BLK 6 LOT SIZE 50.00 X 95 COC 22644-1737 08 2004 5
Tax Annual Amount
6815
Legal Description
DIXIE HIGHWAY TR PB 5-24 LOT 7 BLK 6 LOT SIZE 50.00 X 95 COC 22644-1737 08 2004 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
Green Lands Realty
(305) 503-4121
Listed By:
Silvia Garaza · License #3307649
(786) 267-7248
Added: Sep 17
Last Checked: Sep 20 at 7:06PM
MLS# A11674866
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 1,620-square-foot quadplex was built in 1953 with block construction, tile flooring, shingle roofing, and electric heat. The property includes five bedrooms and eight bathrooms, along with fencing and exterior lighting. Public water and public sewer serve the site, while cable service is available.
Located in Miami, the property is identified within an opportunity zone. The asset’s residential income classification and four-unit configuration support its use as a multifamily property. Existing improvements provide a straightforward physical profile for review, including a fenced exterior, public utility connections, and established construction materials.
Located in Miami, the property is identified within an opportunity zone. The asset’s residential income classification and four-unit configuration support its use as a multifamily property. Existing improvements provide a straightforward physical profile for review, including a fenced exterior, public utility connections, and established construction materials.
Key Highlights
- 1,620 SF quadplex built in 1953
- Block construction with shingle roof
- Five bedrooms and eight bathrooms
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
Lease Details
4
Residential units
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
Check the figures for this property
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 - Miami multifamily property with tile flooring, public utilities, fencing, and electric heat.
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: 1,620 SF quadplex built in 1953; Block construction with shingle roof; Five bedrooms and eight bathrooms
