Duplex with Separate Utility
For Sale
$575,000
262 NE 111th St, Miami, FL 33161
Two residential units have individual electric meters and water heaters.
Property Size1,564 SF
Price / SF$367.65
Days on Market9
Property Features for 262 NE 111th St
General Information
Standard status
Active
Size
1,564 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,935
Building Details
Building Size
1,564 SF
Year Built
1948
Listing Agency:
EXP Realty LLC
Listed By:
Seyon Dunbar · License #3196976
(305) 761-4120
Source:
Casacollectiongroup
Added: Oct 16
Changed: Oct 21
Last Checked: Oct 23 at 4:16PM
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 EXP Realty LLC
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Investment Insights
Based on property information with market context.
This 1,564-square-foot duplex was built in 1948 and has separate electric meters and individual water heaters for its units. The two-unit configuration supports rental use or occupancy in one unit alongside rental of the other.
The property is at 262 NE 111th St in Miami, near Barry University and Miami Shores. Shopping, dining, and access to I-95 are also identified in the surrounding area.
The property is at 262 NE 111th St in Miami, near Barry University and Miami Shores. Shopping, dining, and access to I-95 are also identified in the surrounding area.
Key Highlights
- Two‑unit residential property
- 1,564 square feet; built in 1948
- Separate electric meters and individual water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,367
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,340
$627.3K
Cap Rate 7%
$448,100
$448.1K
Cap Rate 9%
$348,522
$348.5K
Market Conditions
NOI Build-Up for 1,564 SF
Gross rent
$47.9K $30.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$44.8K $28.65/SF
− OpEx
−$13.4K −$8.60/SF
NOI
$31.4K $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 Rate 5%
$627,340
Cap Rate 7%
$448,100
Cap Rate 9%
$348,522
Alternative Uses
Best Use
Multifamily LT 5
$448.1K
$392.1K – $522.8K
NOI $31,367 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$412.7K
$361.2K – $481.5K
NOI $28,892 @ 7.0% cap · market cap 5.02%
Theoretical Best
Specialty Retail
$1.06M
$923.8K – $1.23M
NOI $73,900 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
998
Businesses Nearby
Explore this area
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
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units have individual electric meters and water heaters.
Where is this duplex located?
The property is located at 262 NE 111th St Miami, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit residential property; 1,564 square feet; built in 1948; Separate electric meters and individual water heaters
