6-Unit Apartment
For Sale
$1,250,000
2561 SW 11th Street, Miami, FL 33135
Multifamily property offering a mix of one-bedroom and three-bedroom apartments.
Property Size3,693 SF
Days on Market12
Property Features for 2561 SW 11th Street
General Information
Standard status
Active
Size
3,693 SF
Property subtype
Triplex
Property Condition
Severity
Repairs Needed
Evidence
needs minimal rehab
Units
Unit Mix
4 x 1/1, 1 x 3/2, 1 x 3/1
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$12,500
Building Details
Building Size
3,693 SF
Year Built
1938
Listing Agency:
Julies Realty, LLC
(305) 440-7303
Listed By:
DeLonte Xavier Copeland · License #3385364
(305) 440-7303
Source:
Silverleafrealtygroup
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 24 at 1:10PM
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 Julies Realty, LLC
Investment Insights
Based on property information with market context.
This six-unit apartment building contains four one-bedroom, one-bath apartments, along with one three-bedroom, two-bath unit and one three-bedroom, one-bath unit. The property was built in 1938 and is configured as a small multifamily asset with varied apartment layouts.
The unit mix provides both compact and larger floor plans within the same property. The building is located at 2561 SW 11th Street in Miami, Florida.
The unit mix provides both compact and larger floor plans within the same property. The building is located at 2561 SW 11th Street in Miami, Florida.
Key Highlights
- Six total apartment units
- Four 1‑bedroom, 1‑bath apartments
- One 3‑bedroom, 2‑bath apartment
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
$68,222
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
5.46%
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%
$1,364,440
$1.4M
Cap Rate 7%
$974,600
$974.6K
Cap Rate 9%
$758,022
$758.0K
Market Conditions
NOI Build-Up for 3,693 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
$132.9K $36.00/SF
− Vacancy
−$8.9K −$2.41/SF
EGI
$124.0K $33.59/SF
− OpEx
−$55.8K −$15.11/SF
NOI
$68.2K $18.47/SF
Area
Miami, FL
Vacancy
6.70%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,364,440
Cap Rate 7%
$974,600
Cap Rate 9%
$758,022
Alternative Uses
Best Use
Apartment 5plus
$974.6K
$852.8K – $1.14M
NOI $68,222 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.49M
$2.18M – $2.91M
NOI $174,496 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,251
Businesses Nearby
Explore this area
Business Placement
Demographics for 33135, FL
36,232
Population
15,922
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
70%
High-School Grad
2.1 sq mi
ZIP Area
17,253
Density / Sq Mi
$37,757
Median Household Income
$28,850
Median Earnings
$1,315
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property offering a mix of one-bedroom and three-bedroom apartments.
Where is this apartment building located?
The property is located at 2561 SW 11th Street Miami, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Six total apartment units; Four 1‑bedroom, 1‑bath apartments; One 3‑bedroom, 2‑bath apartment
