Two-Unit Duplex with Private
For Sale
$730,000
2540 NE 181st St, North Miami Beach, FL 33160
Residential Income, North Miami Beach, FL
Property Size1,911 SF
Price / SF$381
Days on Market88
Property Features for 2540 NE 181st St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
3050
Bedrooms
5
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 5
Parking
2
Subdivision
OJUS SUB
Lot features
< 1/4 Acre
Standard status
Active
APN
30-22-04-009-0670
Size
1,911 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
OJUS PARK PB 14-47 LOT 6 BLK 6 LOT SIZE 50.000 X 125 73R-277038
Tax Annual Amount
9296
Legal Description
OJUS PARK PB 14-47 LOT 6 BLK 6 LOT SIZE 50.000 X 125 73R-277038
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
parking
fenced yard
Building Details
Year built
1970
Floors in Building
1
Flooring type
Tile
Building materials
Brick, Block
Roof type
Shingle
Listing Agency:
Beachfront Realty Inc
(305) 405-0615
Listed By:
Maytal Brosh · License #3267851
(305) 370-9365
Added: Jul 8
Changed: Sep 12
Last Checked: Oct 3 at 6:06AM
MLS# A11903391
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 1911-square-foot duplex contains two separately accessed residences: a three-bedroom, one-bath unit and a two-bedroom, one-bath unit. Each residence has its own FPL electric meter, and both are leased under annual terms. The property includes parking, a fenced yard, tile flooring, central heating and central air conditioning. Built in 1970, the building uses a shingle roof and connects to public sewer.
The property is positioned in North Miami Beach near Aventura Mall, Sunny Isles Beach, schools, parks, and major highways. Its two-unit layout, individual entrances, and separate electric metering provide a clearly defined configuration for residential income ownership.
The property is positioned in North Miami Beach near Aventura Mall, Sunny Isles Beach, schools, parks, and major highways. Its two-unit layout, individual entrances, and separate electric metering provide a clearly defined configuration for residential income ownership.
Key Highlights
- Two units totaling 1911 SF
- Unit mix includes one 3‑bedroom, 1‑bath residence and one 2‑bedroom, 1‑bath residence
- Both residences are leased on annual terms
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
$31,856
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
4.36%
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%
$637,120
$637.1K
Cap Rate 7%
$455,086
$455.1K
Cap Rate 9%
$353,956
$354.0K
Market Conditions
NOI Build-Up for 1,911 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
$48.2K $25.20/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$45.5K $23.81/SF
− OpEx
−$13.7K −$7.14/SF
NOI
$31.9K $16.67/SF
Area
Miami-Dade County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$637,120
Cap Rate 7%
$455,086
Cap Rate 9%
$353,956
Alternative Uses
Best Use
Multifamily LT 5
$455.1K
$398.2K – $530.9K
NOI $31,856 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$419.9K
$367.4K – $489.8K
NOI $29,390 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$969.5K
$848.3K – $1.13M
NOI $67,867 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,763
Businesses Nearby
Explore this area
Business Placement
Demographics for 33160, FL
44,085
Population
33,749
Households
1.3
Avg Household Size
48
Median Age
49%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
10,019
Density / Sq Mi
$62,413
Median Household Income
$43,035
Median Earnings
$1,990
Median Rent
$360,200
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully leased property includes separate electric metering, parking, and a fenced yard.
Where is this duplex located?
The property is located at 2540 NE 181st St North Miami Beach, FL.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Two units totaling 1911 SF; Unit mix includes one 3‑bedroom, 1‑bath residence and one 2‑bedroom, 1‑bath residence; Both residences are leased on annual terms
